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24 Hrs Crypto Update, 20 July: Bitcoin under $30K, Ethereum near $1.9K

Key Takeaways
  • XLM, LINK, and DOT experienced a remarkable surge in the last 24 hours, suggesting a substantial rise in demand for these popular cryptocurrencies
  • UK's Financial Conduct Authority launching Digital Sandbox on Aug. 1, supporting fintech product development. Kuwait bans almost all crypto transactions, reiterates "absolute prohibition" on related activities
21-Jul-2023 By: Lokesh Gupta
24 Hrs Crypto Update
BENCHMARK
Indices LTP Change (%)
BITCOIN $29839 0.45%
ETHEREUM $1890 0.10%
CRYPTO STATS(24H) 
Indices VALUE Change (%)
MARKET CAP $1.25 T 0.00%
TRADING VOLUME $47.40 B 21.22%
TOP 5 GAINERS
Indices LTP Change (%)
Xfinance $46.63 3492.59%
Unitrade $0.021 347.12%
PalGold $0.00042 217.43%
ANGLE $0.072 147.68%
Universe.XYZ 0.00024 102.39%
TOP 5 LOSERS
Indices LTP Change (%)
renBTC $2974.59 90.32%
YOLOcash $0.00061 61.42%
HaloDAO $0.0000000075 37.33%
Hector network $1.75 34.38%
Fantohm $2.20 29.72%

Bitcoin stays below $30K, Ethereum trades higher near $1.9K.

Crypto tokens had a mixed day, breaking key psychological levels as excitement waned over Ripple's legal victory and Bitcoin ETFs. The market awaits economic data and events for a clearer direction.

Major Events Around the World

FTX Trading has filed a new lawsuit in the Delaware bankruptcy court against its founder, Sam Bankman-Fried, and other former executives. The aim is to recover over $1 billion in funds from questionable transactions. Co-founder Gary Wang, former CTO, Nisha Singh, former director of engineering, and Caroline Ellison, co-chief executive of Alameda Research LLC, are specifically named in the lawsuit.

SEC Chair Gary Gensler is focused on emerging technologies like AI and their impact on market dynamics. He warned against AI misuse for personal gain and assured the SEC's commitment to taking action against such behavior. Speaking at The National Press Club, Gensler cautioned about potential market manipulation and panic created by malicious actors using AI, stating the SEC's readiness to respond appropriately.

Attorney Jeremy Hogan believes that the XRP community's victory in the U.S. Securities and Exchange Commission vs. Ripple lawsuit is highly unlikely to be reversed. Judge Analisa Torres ruled that XRP is not a security and emphasized the importance of considering the overall context of digital asset transactions. The next move from the US SEC is eagerly awaited. In December 2022, Hogan anticipated that the SEC might seek reconsideration of the summary judgment, followed by a potential appeal by the federal regulatory agency, as he predicted at that time.

COIN GABBAR Views: Are altcoins surging? Could the downtrend ever end? Is a substantial drop needed for a market reversal? Will Bulls make a comeback? What's the FED's decision on FUND Rate, will it increase or not? Stay tuned for the latest news at www.coingabbar.com

Also read: Unraveling Crypto Controversies: Is it Time to Fire the SEC Chairman?

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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