Claim Giveaway Token Proof of Reserve

Crypto Daily Roundup, 22 Sep: Crypto jitters amid Fed's hawkishness

22-Sep-2023 By: Lokesh Gupta
Crypto Daily Roundup

Cryptos with the highest trends in the past 24 hours

TOP 5 Trending Coins

Indices LTP Change (%)
Bitcoin $26643 $1.41%
Pepe $0.000000613 1.81%
Solana $19.64 0.79%
XRP $0.5095 0.50%
Ethereum $1593 1.63%

Crypto News Key Highlights:

Bitcoin's price dropped to $26,500 from early-week gains, driven by increased put options as 22,000 BTC options near expiration. On-chain data shows a drop in whale holdings but rising retail buying. BTC faces resistance at $27,000 and $27,050, with potential for a move towards $28,800.

China's capital outflows hit $49 billion in August, the highest in nearly eight years, potentially benefiting Bitcoin due to a weakening yuan. Experts suggest that as the Chinese economy weakens, investors may seek opportunities abroad, with cryptocurrency being one of the few accessible options despite strict capital controls.

The House Financial Services Committee has passed the CBDC Anti-Surveillance State Act, preventing the Federal Reserve from issuing a central bank digital currency (CBDC). Representative Tom Emmer, supported by 60 members of Congress, aims to protect privacy and individual sovereignty, differentiating CBDCs from decentralized cryptocurrencies.

Shibarium network has seen a decline in total value locked (TVL) from $1.47 million on August 29 to $630,012 on September 20, indicating a loss of confidence. SHIB, the native token, has consolidated at $0.00000734 amid market uncertainty, while large-holder netflows for Shiba Inu have declined by 756%, signaling unease among major investors.

A crypto whale named "0xb154" moved over $8.1 million worth of Ethereum from Binance to a non-custodial wallet on September 21. This move signals confidence in Ethereum despite its recent price drop and increased volatility. The whale has also been actively involved in NFT transactions.

A Binance-associated cryptocurrency wallet, "Binance 14," experienced a surge in transactions, leading to unusually high gas fees on the Ethereum network. Gas fees briefly spiked from less than 10 gwei to over 330 gwei per transaction, resulting in approximately 530 ETH (about $850,000) in gas fees on the wallet.

CoinScan, backed by Shalom MecKenzie, aims to provide free, unbiased token data and scam prevention tools to crypto traders. It recently secured $6.3 million in funding and plans to become a trusted hub for real-time crypto analytics and blockchain data, offering features like safety checks and social sentiment indicators.

Elon Musk's ownership of Twitter (now X) has led to various changes, including introducing paid features like X Blue Tick and upcoming services like payments, video calls, and job searches. Musk's interest in cryptocurrency also raises speculation about a potential crypto payment service on the platform.

Also read - 24 Crypto Update, 21 Sep: BTC, ETH and top-10 crypto dip amid sell-off

Related News
Related Blogs