BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $26793 | 0.27% |
| ETHEREUM | $1810 | 0.71% |
CRPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.17 T | 0.30% |
| TRADING VOLUME | $27.50 B | 25.67% |
TOP 5 GAINER
| Indices | LTP | Change (%) |
|---|---|---|
| MakiSwap | $0.0031 | 92.82% |
| JadeCurrency | $0.0022 | 71.81% |
| MobieCoin | $0.000062 | 54.44% |
| dfohub | $0.00089 | 45.33% |
| Kampay | $0.0043 | 42.89% |
TOP 5 LOSER
| Indices | LTP | Change (%) |
|---|---|---|
| NFT Aet Finance | $0.000000000051 | 75.32% |
| SmartCash | $0.00015 | 64.12% |
| AnRKey X | $0.00045 | 54.34% |
| Potent Coin | $0.00040 | 53.19% |
| Piccolo Inu | $ 0.0000000087 | 47.57% |
On Friday, the cryptocurrency markets experienced a downturn. BTC plummeted below the $27,000 mark, while ETH remained above the $1,800 level. Other leading crypto tokens also experienced a decline, with Solana and Cardano dropping by nearly 2%. BNB, Polkadot, and Litecoin were also trading lower.
Major Events Around the World
The Chairman of the U.S. Federal Reserve, Jerome Powell, recently stated that the banking system in the country is robust and able to withstand any challenges. He emphasised that the Fed has provided liquidity support to banks as needed, without compromising on the monetary policy of the United States. However, Powell also acknowledged that credit stress may have an impact on the Fed's plans for rate hikes. Despite this, he remains confident in the strength of the banking system and the ability of the Fed to navigate any potential challenges.
On Friday, Ripple, a US-based provider of cryptocurrency solutions, announced a new addition to its Board of Directors. As the company responsible for the popular cryptocurrency XRP, Ripple is currently in the spotlight as the crypto market eagerly awaits the summary judgement in the U.S. Securities and Exchange Commission (SEC) lawsuit. If Ripple emerges victorious in the lawsuit, it could gain a significant advantage by having fought the regulators early on in the crypto adoption phase.
The XRP community is currently speculating whether the recent one-week extension for filing unredacted versions of cross motions, which includes the Bill Hinman emails, is part of a larger strategy in the ongoing Ripple Vs SEC lawsuit. On Friday, Ripple and the SEC filed a Joint Letter requesting an extension to file the documents, citing the extensive amount of materials involved. The Court's recent order denying the SEC's request to seal the Hinman documents has sparked a debate in the crypto market about whether this development could accelerate the Summary Judgement.
COIN GABBAR Views: Is the volatility of Bitcoin, Ethereum, and other top cryptocurrencies a direct response to Federal Reserve Chair Jerome Powell's indications of a possible halt to rate hikes? Stay tuned for updates and the latest news us at www.coingabbar.com
Also read: Bittrex CEO: Crypto Expected to Integrate into Traditional Finance in 5-10 Years
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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