Barring a few tokens, major top crypto tokens were trading lower. Polygon plunged 5%. Cardano, Solana and Polkadot shed 3% each. Among the gainers, XRP was 4% up.
The global cryptocurrency market cap was trading lower around $829 billion, dropping more than a per cent in the last 24 hours. However, the total trading volume was lower, plunging 23% to $47.87 billion.
What’s cooking in India
Indian crypto exchange CoinDCX has published its Proof of Reverses (PoR) in partnership with Nansen. With this, CoinDCX’s on-chain and off-chain asset balances and complete list of wallet addresses are available for public viewing and verification with the click of a button.
The PoR data will be readily available, and CoinDCX plans to post monthly updates on R2L ratio, to give customers complete confidence in the health of the company’s business and the safety of investments.
Expert Take
“Bitcoin traded sideways in the past 24 hours following the latest Federal Open Market Committee’s minutes. Despite the rise in Bitocin’s price, buyers could not hold the gained initiative,” said Edul Patel, CEO and Co-Founder of Mudrex.
It trades around the $16,500 level and if it falls below the current level, the next support would be at the $16,200 zone, he said. “Ethereum has not entered the bullish zone and remains below the $1,300 level despite the recent growth,” he added.
Global Updates
Kraken’s chief operating officer said that crypto’s future will be based on self-custody and clear regulatory standards. Dave Ripley is the current COO of the crypto exchange and has been named to replace CEO Jesse Powell when he steps down.
Brendan Blumer, the founder and CEO of EOS developer Block.One, has bought 9.3% of crypto bank Silvergate Capital (SI), while Block.One bought an additional 7.5%, according to Securities and Exchange Commission documents filed.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
