Apr 27: BTC back above $29k, and other tokens extend gains
- The market has rallied for the second consecutive day, with Bitcoin experiencing a 2.00% increase and currently trading near $29,426. Meanwhile, Ethereum has remained relatively stable, trading flat above $1,906
- In the last 24 hours, there has been a massive rise in roller coaster trading activity for some of the most prominent cryptocurrencies, including BTC, SOL, DOGE, and XRP
On Thursday, the cryptocurrency markets experienced
BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $29426 | 2.00% |
| ETHEREUM | $1906 | 0.01% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.26 T | 1.10% |
| TRADING VOLUME | $55.60 B | 30.41% |
TOP 5 GAINER
| Indices | LTP | Change (%) |
|---|---|---|
| RariGovernance | $1.35 | 957.69% |
| AVINOC | $0.99 | 148.16% |
| SINOVATE | $0.00059 | 103.63% |
| Digitex | $0.000038 | 98.25% |
| Axe | $0.0056 | 93.45% |
TOP 5 LOSER
| Indices | LTP | Change (%) |
|---|---|---|
| GazeTV | $0.000080 | 49.96% |
| DOEX | $0.00025 | 42.35% |
| Wabi | $0.0014 | 31.19% |
| MobieCoin | $0.000027 | 40.00% |
| Plasma Finance | $0.0026 | 37.54% |
a significant surge in trading. Bitcoin saw a 2.00% increase, reaching $29,426, while Ethereum remained steady at the $1,900 level. Despite the recent turmoil in the US banking sector and the slowing growth of the world's largest economy, other crypto tokens were trading on a mixed note. Nevertheless, most digital tokens were able to maintain their gains. As traders eagerly anticipate the US Fed's meeting next week, the market remains optimistic about the future of cryptocurrency.
Major Events Around the World
Coinbase Global Inc. has issued a formal response to the Wells Notice received from the Securities and Exchange Commission (SEC), in which it firmly stated that it has not violated any securities laws while operating in the United States. The California-based cryptocurrency exchange was recently notified by the SEC that it was under investigation for its Earn product, wallet service, and exchange operations.
The Federal Bureau of Investigation (FBI) carried out a search warrant at the Maryland residence of Ryan Salame, a former high-ranking executive at FTX. The investigation alleges that former CEO Sam Bankman-Fried (SBF) orchestrated a massive fraud scheme that resulted in the loss of billions of dollars and ultimately led to the downfall of the cryptocurrency exchange.
Patrick Hansen, Director of EU Strategy and Policy at Circle, a stablecoin issuer, has shared some crucial insights regarding the proposed Central Bank Digital Currency (CBDC) for the European Union. Although the Digital Euro, as it is also known, has not yet been launched, Hansen predicts that it will exist in three distinct forms if it is launched. During his participation in a roundtable discussion on the Digital Euro, he shared his predictions. According to him, the Central Bank Digital Currency (CBDC) will initially serve as an alternative to cash and will be available as a tokenized bank deposit. Furthermore, the Digital Euro will be issued as a stablecoin or regulated e-money.
COIN GABBAR Views: Where are we and where is BTC heading? Is a Bitcoin bull run imminent? The Hong Kong Central Bank has issued a crypto advisory for banks. As traders eagerly anticipate the upcoming US Federal Reserve meeting, the market remains optimistic about the future of cryptocurrency. In order to successfully navigate the ever-changing and unpredictable markets, it is imperative to remain informed and knowledgeable about the latest trends, breaking news, technical and fundamental analysis, as well as expert opinions. Please stay tuned with us www.coingabbar.com
Also read: Meta's Reality Labs Suffers $4B Loss in Q1 2023 After $13B Loss in 2022
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.
