BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $26405 | 0.34% |
| ETHEREUM | $1725 | 0.40% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.10 T | 0.40% |
| TRADING VOLUME | $22.30 B | 39.00% |
TOP 5 GAINERS
| Indices | LTP | Change (%) |
|---|---|---|
| Risitas | $0.0006916 | 1170.84% |
| VRES | $0.009025 | 583.43% |
| MetaOctagon | $0.03616 | 372.25% |
| ALYATTES | $0.01187 | 122.43% |
| YUKKY | $0.03813 | 113.21% |
TOP 5 LOSERS
| Indices | LTP | Change (%) |
|---|---|---|
| Poope | $0.0000001602 | 87.99% |
| ARAW | $0.002342 | 87.32% |
| WaykiChaim | $0.007921 | 67.78% |
| CakeMonster | $0.0004052 | 49.91% |
| ETHAX | $0.04527 | 45.39% |
Following a weekend rebound, Bitcoin experienced some profit booking, resulting in the largest crypto token dropping by approximately half a percent and remaining below the $26,500 mark. Ethereum, Bitcoin's largest peer, also experienced a slight drop and remained below the $1,750 level. The price action in the altcoins was mixed.
Major Events Around the World
In the midst of widespread fear and uncertainty surrounding crypto enforcement actions in the United States, investor and television personality Marc Cuban shared a fascinating anecdote about his attempt to register a crypto token. Cuban approached the U.S. Securities and Exchange Commission (SEC) in search of guidelines on how to register a crypto token. Through this experience, he discovered the true reason why crypto firms struggle to register with the agency under the current rules. This revelation could serve as a compelling case for discussions with lawmakers on crypto, particularly as we approach the upcoming election year.
Renowned macro expert Raoul Pal believes that the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is not intending to shut down all crypto businesses in the United States. However, there is a growing concern that Gensler's selective bias towards mainstream companies is negatively impacting the crypto market. While Wall Street giants like JP Morgan and Blackrock have already entered the crypto space, it remains unclear how long it will take for U.S. regulators to establish a clear path for crypto regulation. Furthermore, the upcoming 2024 U.S. presidential election could pose a significant obstacle to progress in this area in Washington DC.
Ripple Labs has received a boost in its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC) thanks to the support of Mike Belshe, CEO of BitGo, a prominent digital asset custodian. Belshe has made it clear that his backing of Ripple's legal victory is not based on any personal attachment to XRP, but rather a desire to promote regulatory reform. He believes that a favourable outcome for Ripple would set a precedent for regulatory frameworks that encourage innovation, much like Bitcoin (BTC) was able to flourish without being hampered by regulatory obstacles during its early stages.
COIN GABBAR Views: There is significant speculation surrounding the potential end of the cryptocurrency market's 10-week declining trend. While Bitcoin concluded the week with a bullish tone, altcoins sustained losses and continued their downward trajectory. The upcoming week holds significant importance as it will play a crucial role in determining the market's future direction. Stay tuned for updates and the latest news us at www.coingabbar.com
Also read: CBDCs: Unlocking a New Era of Secure and Efficient Payments
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.from Coin Gabbar News https://ift.tt/0XNcMIF
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