The crypto market is currently searching for stability.
Tuesday saw Bitcoin and other crypto tokens trading within a confined range, marked by a negative undertone. Regulatory actions, legal disputes, and an enduring market downturn have characterized recent weeks. Additionally, macroeconomic signals are poised to impact token markets.
The decline in BTC/USD is tied to evolving economic predictions, as expectations of rate hikes are postponed until March 2024. The forthcoming Jackson Hole Symposium gains significance, particularly Fed Chair Jerome Powell's address, as it influences the outlook that aligns with the FOMC's probable decision to hold rates steady in September.
Top Crypto Currency Updates:
Bitcoin (BTC)
As of the current writing, the price of Bitcoin is $26,019 showing a 24-hour loss of 0.10 percent. In India, the value of Bitcoin is Rs 23,27,000.
Ethereum (ETH)
At the time of writing, the price of Ethereum was $1,663, showing a 24-hour loss of 0.80 percent. In India, the price of Ethereum stood at Rs 1,47,000.
Binance (BNB)
At the time of writing, the price of Binance was $209 showing a loss of 3.10% in 24-hour. In India, the price of Binance stood at Rs 18,352.
Cardano (ADA)
At the time of writing, the price of Cardano was $0.2610, showing a 24-hour loss of 3.00 percent. In India, the price of ADA stood at Rs 24.00.
Dogecoin (DOGE)
DOGE recorded a 24-hour loss of 1.50 percent, with its current price at $0.06255. In India, the price of Dogecoin stood at Rs 5.57.
Litecoin (LTC)
Litecoin registered a 24-hour increase of 0.30 percent. As of the current time, it was trading at $66.22. In India, the price of LTC stood at Rs 5890.
Ripple (XRP)
XRP's price, recorded at $0.5208, experienced a 24-hour loss of 1.60 percent. In India, Ripple's price stood at Rs 46.02.
Solana (SOL)
The price of Solana was recorded at $21.01, reflecting a 24-hour decrease of 2.20 percent. In India, the price of SOL stood at Rs 1856.
Major Event to be watch
Crypto Fear and Greed:
Over the past day, the cryptocurrency markets have shown signs of fear, causing a 1-point down in the crypto greed and fear index. The index now stands at 37 out of 100.
Worldwide News Update:
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NFTs are distinct from regular cryptocurrencies like Bitcoin, representing digital art, collectibles, and more. High sales, like Beeple's $69M artwork, highlight potential value. Debate centers on lasting impact or speculative bubble, sparking global digital ownership conversations.
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BIT collaborates with the Indian Army for secure veteran communication via BitMemoir. Encryption, decentralized storage, NFTs ensure integrity. Partnership signals blockchain's mainstream advancement in tech acceptance.
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Google swiftly tackles child data tracking allegations on YouTube, offering privacy reassurances. Prioritizing kids' safety, Google highlights platforms like YouTube Kids. Debate over privacy surfaces alongside AI integration, underscoring data protection importance.
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Coinbase invests in USDC issuer Circle amid increased regulatory scrutiny. Positive for both as USDC's market share declined. Joint revenue sharing based on holdings and interest income emphasized.
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SEC charges NY's Titan Global Capital Management for false performance metrics in ads and compliance breaches. Misrepresentation and multiple failures alleged by the Securities and Exchange Commission.
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With Sam Bankman-Fried's trial nearing, the billionaire aims to shift defense strategy. His lawyers suggest an "advice-of-counsel" approach, often used to shift liability by substantiating guidance reliance with documented proof.
COIN GABBAR Views: Will the Bitcoin price experience a rebound following the recent bearish trend? Could the approval of a Spot Bitcoin ETF potentially propel BTC price beyond $100,000 within a year? Is there a possibility for Bitcoin to stage a comeback and reignite the 2023 bull run? Stay tuned for the latest news at www.coingabbar.com
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.
For More News: NFTs the Future of Art and Digital Ownership or a Passing Fad?
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