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24 Hrs Crypto Update,17 July: Bitcoin remains above 30k mark

Key Takeaways
  • Popular cryptocurrencies BTC, ETH, and LTC have witnessed substantial declines in the past 24 hours, indicating heightened selling pressure on these digital assets
  • In early Asian trade, Bitcoin managed to maintain its position above $30,000 before staging a recovery. Meanwhile, Ether and other cryptocurrencies in the top 10 experienced declines, and there was also a noticeable slump in NFT trading volume
18-Jul-2023 By: Lokesh Gupta
24 Hrs Crypto Update
BENCHMARK
Indices LTP Change (%)
BITCOIN $30176 0.41%
ETHEREUM $1913 0.62%
CRYPTO STATS(24H) 
Indices VALUE Change (%)
MARKET CAP $1.25 T 0.70%
TRADING VOLUME $46.70 B 54.12%
TOP 5 GAINERS
Indices LTP Change (%)
Darkness Share $0.00012 140.15%
Hextor Network $2.60 115.99%
Dypius $0.16 53.31%
Life Crypto $0.000024 52.35%
Ormeus Ecosystem 0.0000098 48.83%
TOP 5 LOSERS
Indices LTP Change (%)
Torum $0.00023 98.68%
SmartCash $0.00024 49.99%
Hoge Finance $0.0000078 49.10%
Anji $0.000017 48.76%
Geist Finance $0.0013 45.87%

BTC and ETH hold $30,000 and $1,900, SUI leading the pack.

Bitcoin shows an upward trend on weekly highs and lows but registers a decline on the close and open. It briefly touched $30,000 before recovering in Asian Tuesday trading. Ether and the majority of top 10 non-stablecoin cryptocurrencies experienced declines, with Solana leading the losers.

Major Events Around the World

Binance, the world's leading cryptocurrency exchange, has recently made the decision to reduce employee benefits as part of its cost-cutting measures amidst the current market conditions. This move comes as the company faces legal challenges in various jurisdictions, including the United States. In June 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance for alleged violations of securities laws.

Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), has expressed his disappointment with Judge Analisa Torres' classification of Ripple-affiliated digital currency XRP as a "non-security" in the ongoing case between Ripple and the SEC. Gensler made this statement during his speech at the National Press Club Headliners Luncheon, where he was questioned about the potential impact of the recent court ruling on the cryptocurrency industry.

Sources familiar with the matter have revealed that Coinbase CEO Brian Armstrong is scheduled to meet with House Democrats on Wednesday, July 19. This meeting marks Armstrong's first interaction with lawmakers since the US Securities and Exchange Commission (SEC) filed a lawsuit against the cryptocurrency exchange last month. Reports indicate that Armstrong will engage in a private discussion with members of the New Democrat Coalition, focusing on cryptocurrency legislation and various interconnected concerns such as national security, privacy, climate, and taxation.

COIN GABBAR Views: When might crypto break free from its sideways trend? How will the recent weekend fluctuations influence the crypto market in the upcoming week? Is there a possibility that the crypto market is entering a consolidation phase? Additionally, could a positive verdict from a US court sustain the support for digital tokens? Stay tuned for the latest news at www.coingabbar.com

Also read: FSB Introduces Global Crypto Regulations: Same Risk, Same Regulation

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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