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24 Hrs Crypto Update, Apr 20: Investors Dumping Altcoins As Crypto Rally Pauses

Key Takeaways
  • On Thursday, the value of cryptocurrencies experienced a significant decline, continuing the downward trend from the previous session. The global market capitalization of cryptocurrencies currently stands at $1.25 trillion, with a trading volume of $57.8 billion over the past 24 hours. Bitcoin and other leading cryptocurrencies lost their momentum on Thursday, with significant drops in their value
  • Over the last 24 hours, the market value of several prominent cryptocurrencies, including BTC, ETH, XRP, and DOGE, has taken a significant dip
21-Apr-2023 By: Simran Mishra
24 Hrs Crypto Update

On Thursday, Bitcoin and other leading cryptocurrencies experienced a significant decline in value. This was due to a combination of factors, including the release of inflation data from the UK that negatively impacted market sentiment, as well as a large sell order on Binance. As a result, these top crypto tokens lost their momentum and suffered significant losses.

Major Events Around the World


Indices LTP Change (%)
BITCOIN 28217 2.53%
ETHEREUM $1944 0.35%


Indices VALUE Change (%)
MARKET CAP $1.25 T 1.20%
TRADING VOLUME $57.80 B 21.57%


Indices LTP Change (%)
Cryptopay $0.039 6736.88%
AVINOC $0.35 45.78%
Phoenix Finance $0.0014 41.78%
Polymath $0.24 29.00%
Verox $47.05 28.29%


Indices LTP Change (%)
AidosKuneen $0.016 45.29%
CVNX $0.0039 32.56%
Porta $0.00025 31.01%
Auto $38.91 27.56%
Mercurial $0.00087 25.47%

The highly anticipated inaugural flight of SpaceX's Starship rocket ended in a fiery explosion just minutes after takeoff. This unfortunate event marked a disappointing setback for Elon Musk, the company's founder and CEO, who has ambitious plans for the spacecraft to eventually embark on deep-space missions. Despite the setback, Musk remained optimistic, taking to Twitter to express that SpaceX had learned valuable lessons from the failed test flight and that the company would attempt another launch in the coming months.

On Thursday, April 20th, the Texas House of Representatives passed a pivotal bill that requires crypto exchanges to provide Proof-of-Reserves for accountability and transparency to their users. This new legislation mandates that digital asset service providers submit a report to the Texas Department of Banking no later than the 90th day after the end of each fiscal year. This measure is a significant step towards ensuring the safety and security of cryptocurrency transactions in Texas. By requiring exchanges to provide Proof-of-Reserves, users can have confidence that their assets are being held securely and that the exchange is operating in a responsible manner. This legislation is a positive development for the cryptocurrency industry and demonstrates Texas' commitment to fostering a safe and transparent environment for digital asset transactions.

According to the Labor Department's report on Thursday, the number of Americans filing for unemployment benefits increased last week, but it still remains at a historically low level. Specifically, U.S. jobless claims rose by 5,000 to 245,000. However, the four-week moving average of claims, which smooths out weekly fluctuations, decreased by 500 to 239,750. It is worth noting that at the beginning of the year, weekly claims were hovering around 200,000, and they have since gradually increased.

COIN GABBAR Views: Investors are selling altcoins as the crypto rally slows down. Bitcoin and Ethereum are both dropping, and it's unclear if the correction will continue. The price of Bitcoin is now below $30K. Investors are concerned about inflation and interest rates, which has led to a decline in the market. It is essential to stay up-to-date on the latest market trends, news, technical and fundamental analysis, and expert opinions before making any investment decisions. Please stay tuned with us

Also read: Crypto Bot Makes $1M+ With "Sandwich Attacks" on Meme Coins

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.

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