BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $28070 | 1.97% |
| ETHEREUM | $1878 | 1.98% |
CRPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.23 T | 0.40% |
| TRADING VOLUME | $42.50 B | 27.22% |
TOP 5 GAINER
| Indices | LTP | Change (%) |
|---|---|---|
| Rome | $13.29 | 256.85% |
| Work Quest | $0.0047 | 151.62% |
| Asian Fintech/td> | $0.0018 | 77.79% |
| Fractal | $0.031 | 61.09% |
| Recast1 | $0.0000044 | 56.19% |
TOP 5 LOSER
| Indices | LTP | Change (%) |
|---|---|---|
| FairGame/td> | $0.00014 | 87.08% |
| Yee | $0.000015 | 86.93% |
| YOYOW | $0.00033 | 80.03% |
| Wabi | $0.0024 | 55.63 |
| CyberMiles | $0.0010 | 52.83% |
On Thursday, the crypto market experienced a significant drop following the release of new macroeconomic data. The unexpected increase in unemployment claims has added to the growing concerns about an impending recession. This news has caused a ripple effect throughout the market, resulting in a decline in cryptocurrency prices.
Major Events Around the World
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The United States Department of Labor (DOL) released its weekly statistics on Thursday, revealing that approximately 228,000 initial unemployment claims were filed in the week ending April 1. This figure was lower than the market's anticipated 200,000 and followed the previous week's estimate of 246,000, which was later corrected from 191,000.
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On Thursday, the CEO of Binance Australia provided an explanation to clear up any confusion regarding the cancellation of their derivatives licence. It was previously reported by CoinGape that the Australian Securities & Investment Commission (ASIC) had cancelled Binance's Australian financial services (AFS) licence. However, CZ, the CEO of Binance, clarified that only the Binance Australia Derivatives business is being closed, while the spot exchange will continue to operate in the country. It's important to note that the derivatives business is separate from the spot exchange, which allows users to buy and sell cryptocurrencies at the current market price. This clarification should alleviate any concerns about the future of Binance's operations in Australia.
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On Thursday, the United States Department of Treasury released a statement revealing that Decentralized Finance (DeFi) has become a hub for North Korean hackers, ransomware attackers, thieves, and scammers. These nefarious actors are utilising DeFi to transfer and launder the proceeds of their illegal activities. This news highlights the growing concern surrounding the use of DeFi for illicit purposes. The decentralized nature of DeFi platforms makes it difficult for authorities to track and prevent criminal activity. As a result, it is crucial for regulators and law enforcement agencies to work together to develop effective strategies to combat these threats.
COIN GABBAR Views: Earlier today, the U.S. stock market experienced a decline due to disappointing labour market data. Investors are now eagerly anticipating Friday's jobs report as it may serve as an indicator of the Federal Reserve's tightening policy, which could potentially push the economy towards a recession. Given this uncertain economic climate, many are wondering which cryptocurrencies are the best to invest in at this time. Can you offer any insights? Rest assured, we will keep you informed with the latest updates and information on this evolving situation. Please stay tuned with us www.coingabbar.com
Also read: MAS and Banks Collaborate on Crypto Standards in Singapore
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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