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Crypto Prices April 23: Crypto Market Awaits Home Sales Data

Key Takeaways
  • Bitcoin is currently trading above $66,000, with Ethereum holding steady around $3,200
  • The cryptocurrency market experienced a moderate 0.80% uptick, propelling the overall market capitalization to $2.57 trillion
23-Apr-2024 By: Lokesh Gupta
Crypto Prices April

Cryptocurrency market rises 0.80%, reaching $2.57 trillion

  • Bitcoin rebounded to $67,000 from $60,000, likely due to eased tensions in the Middle East and reduced transaction fees post-halving.

  • Matt Hougan, CEO of Bitwise, shared his insights on the International Monetary Fund's report regarding cross-border Bitcoin transactions.

Major Events To Watch

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Crypto Fear and Greed Index:

fear and greed index

Presently, the "Fear and Greed Index" stands at 71/100, indicating optimism and hinting at continued upward momentum above 70.

Latest Market Update: 

  • #Bitcoin ($BTC), the top cryptocurrency, stayed steady around $66,000 on Tuesday morning.

  • Minor fluctuations were observed in the prices of #Ethereum ($ETH), #Dogecoin ($DOGE), #Ripple ($XRP), #Solana ($SOL), and #Litecoin ($LTC).

  • The #PENDLE token saw the most significant increase, jumping over 11% in the last 24 hours.

  • Conversely, #ONDO experienced the largest decline, dropping over 5% in the same period.

  • Crypto market volume in the last 24 hours surged to $67.64B, marking an 11.48% increase.

  • DeFi volume stands at $5.63B, comprising 8.32% of the total crypto market's 24-hour volume.

  • Stablecoins contribute $63.24B to the total volume, representing 93.49% of the 24-hour crypto market volume.

  • Bitcoin's dominance stands at 53.58%, up by 0.05% compared to the previous day.

Major Worldwide News Update:

  • Mt. Gox, once a major Bitcoin exchange, has begun repaying creditors from its $9 billion Bitcoin reserve. Creditors receive updates on claims, including repayment amounts and dates. Despite progress, specific repayment dates remain undisclosed. Mt. Gox's breach in 2011 led to bankruptcy, with creditors awaiting reimbursement since 2014.

  • In the Middle East, cryptocurrency trading is surging, with 500,000 daily traders. The UAE leads in crypto-friendly regulations, while other nations are adapting. Retail investors favor memecoins, while institutions lean towards Bitcoin. Despite modest volume compared to global levels, the region's liberal regulations attract miners amidst China's crackdown.

  • The SEC aims to fine Terraform Labs and co-founder Do Kwon over $4.7 billion for civil case misconduct. Terraform suggests a $3.5 million penalty, while Kwon argues for $800,000. The SEC also seeks Kwon's disqualification as an officer and full asset disclosure. Pending court approval, these penalties target fraudulent crypto market practices.

  • Despite approving Bitcoin ETFs, the US is pushing stringent regulations, including a proposed 30% excise tax on Bitcoin mining electricity. This move, criticized by Senator Cynthia Lummis, could prompt miners to leave. The tax risks stifling innovation and driving the industry offshore, undermining environmental goals.

  • Venezuela's PDVSA is increasingly using stablecoins like Tether (USDT) for oil exports amid US sanctions. USDT mitigates risks of seized proceeds due to sanctions. Oil minister considers digital currencies for payments. PDVSA mandates USDT payments, boosting exports. Traders find compliance challenges with USDT transactions.

  • A 71-year-old Indian digital artist was swindled by scammers posing as NFT art dealers. Promised a substantial sum for his artwork, he lost $1895 in fees. Despite attempts to withdraw earnings, he was asked for additional payments. He filed charges under Indian cyber laws, seeking justice amidst rising cryptocurrency scams.

  • A legal pad note bearing the handwritten message "Buy Bitcoin," famously associated with Janet Yellen's testimony, has sold for nearly $140,000 in online bidding. Crafted by Christian Langalis and gaining prominence in 2017, the piece drew attention when Langalis, offering 5 BTC for the original, decided to put it up for auction. Preserved as a historical artifact, the item features Langalis's annotations and will be unveiled at Pubkey, a Bitcoin-themed restaurant.

COIN GABBAR Views: Will Bitcoin rally soon or is it poised for another drop to $60K? When can we anticipate the post-halving surge? Are bets on a price surge triggered by the Bitcoin halving, with speculations of hitting $100,000? Could the coin crash by over 50% as the FOMO rally fades? To get latest news Stay tuned us at coingabbar

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also Read: Crypto Prices Today 22 April: BTC $66K, Altcoins Wild Ride

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