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24 Hrs Crypto Update,14 July: BTC and other tokens are losing momentum

Key Takeaways
  • ETH, BTC, SOL, ADA, and LTC plummeted in the past 24 hours, indicating profit-taking on these popular cryptocurrencies
  • BTC and other cryptocurrencies experience profit-taking following a significant rally. According to the WSJ, Binance may reduce its workforce by up to one-third, previously consisting of around 8,000 employees
15-Jul-2023 By: Lokesh Gupta
24 Hrs Crypto Update
BENCHMARK
Indices LTP Change (%)
BITCOIN $30344 3.40%
ETHEREUM $2013 3.97%
CRYPTO STATS(24H) 
Indices VALUE Change (%)
MARKET CAP $1.26 T 3.20%
TRADING VOLUME $64.40 B 30.00%
TOP 5 GAINERS
Indices LTP Change (%)
UkraineDAO Flag NFT $0.073 2339.60%
Tombshares $137.80 306.58%
MobieCoin $0.0000072 91.35%
Hector Network $2.87 88.03%
SmartMFG 0.0013 79.87%
TOP 5 LOSERS
Indices LTP Change (%)
Rook $0.57 97.77%
Kepple[OLD] $0.0045 85.08%
Geist Finance $0.00045 73.73%
TOR $0.28 59.88%
SmartCash $0.00023 56.22%

Crypto market slumps post major gains, indicating a decline.

Bitcoin and altcoins undergo consolidation after a strong two-day rally, but overall sentiment remains bullish. Binance may downsize its workforce by approximately one-third, as per WSJ's report.

Major Events Around the World

David Schwartz, the outspoken Chief Technology Officer (CTO) of American blockchain payments firm Ripple Labs Inc, has expressed his apparent regret following the recent favorable ruling on the status of XRP by Judge Analisa Torres. In a tweet to his extensive following of over 450.3k followers, Schwartz admitted that his initial reaction should have been to invest in the shares of the publicly traded cryptocurrency trading giant, Coinbase Global Inc (COIN).

The Terra Luna Classic community is actively taking various measures to revive LUNC and restore USTC to its original value of $1. These efforts include conducting burns, encouraging staking, and relying on developers to enhance utility and garner support from the broader crypto community. Notably, the renowned crypto exchange Binance, along with its CEO "CZ," has extended their support to the Terra Luna Classic community. They have committed to burning LUNC spot and margin trading fees on a monthly basis. With this backing, the community now aims to seek Binance's assistance in the USTC repeg through a market module.

Cardano, the layer-1 Proof-of-Stake (PoS) blockchain protocol, has revealed the next steps for its highly anticipated improvement proposal CIP-1694 in its weekly edition of the developmental report. This proposal, known as the passport for Cardano to enter a highly functional and inclusive governance system, has prompted community representatives from across the globe to collaborate on a Minimum Viable Governance (MVG) framework. Over the course of this year, a total of 50 workshops have been conducted, engaging approximately 1000 community members who have actively participated in discussions regarding the proposal's intricacies.

COIN GABBAR Views:Can the crypto market's rally sustain following positive outcomes for Bitcoin, other cryptocurrencies, and Ripple's legal win? Or will there be a reversal from current levels? Stay tuned for the latest news at www.coingabbar.com

Also read: U.S. federal judge: XRP Tokens is a Security for Firms, Not for Public

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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