Top cryptocurrency prices today: Avalanche drops 3%; Bitcoin, Solana, Shiba Inu sheds 2% each – Economic Times
New Delhi: Major crypto tokens were back in red but prices remained in a tight range. Traders are waiting for a clear direction in the economy before making their mind.
Crypto prices, which have largely correlated to stocks, dovetailed again with major indices. Rising inflationary worries and looming fears of recession continued to weigh on investor sentiments and cryptos are struggling to get …….
New Delhi: Major crypto tokens were back in red but prices remained in a tight range. Traders are waiting for a clear direction in the economy before making their mind.
Crypto prices, which have largely correlated to stocks, dovetailed again with major indices. Rising inflationary worries and looming fears of recession continued to weigh on investor sentiments and cryptos are struggling to get over them.
Barring the stablecoin USD Coin, majority of the tokens were trading lower on Thursday. However, the losses were capped. Avalanche plunged 3 per cent, followed by a 2 per cent fall in Bitcoin, Solana and Shiba Inu each.
The global cryptocurrency market cap was trading lower at the $1.24 trillion mark, dropping as much as 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume plunged more than 21 per cent to $66.44 billion.
Expert take
Darshan Bathija, CEO and Co-Founder, Vauld, said though Bitcoin saw a slight surge, the digital asset was back trading near the $30,000 level.
“ETH blockchain’s testnet – Ropsten – transitioned to Proof-of-stake on Wednesday. This is an important development as the Ropsten Merge marks an important milestone towards Ethereum’s mainnet Merge, which is slated for later this year,” he added.
Global updates
Crypto investment firm Arrington Capital, which has more than $1.6 billion in assets under management, has partnered with the Moonbeam Foundation for a new $100 million ecosystem fund for Polka Dots EVM-compatible Moonbeam parachain.
France should recognize decentralized autonomous organizations and non-fungible tokens in its legal system, a leading lawmaker said in a report published, hitting out at European crypto regulation, whose approach, he said, has largely been defensive.
Skolem Technologies has raised $20 million in Series A funding that was led by Galaxy Digital, according to a statement Wednesday.
A wide-reaching, bipartisan crypto bill emerged Tuesday from U.S. Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand, who are seeking to extend a comprehensive set of regulations across digital assets in the U.S. and have given industry lobbyists something meaty to debate.
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