The cryptocurrency market had a mixed day on Wednesday as investor confidence remained precarious in the wake of the most recent inflation warnings and ahead of US Fed data on price increases.
Although Federal Reserve officials recently reaffirmed their commitment to combating inflation as the top threat to the economy, they acknowledged that the data may affect pricing. economy.
At $919.50 billion, the market capitalization of all cryptocurrencies had slightly increased over the previous day. The overall trade volume, however, decreased by roughly 12% to $48.55 billion.
Top crypto assets traded in a varied manner on Wednesday. In addition to Bitcoin and Ethereum, Dogecoin increased by 3%. Following a 3% loss in each of XRP and Solana, Shiba Inu and Polygon experienced a 1% decline.
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The majority of cryptocurrencies were trading at lower prices, according to Sathvik Vishwanath, co-founder and CEO of Unocoin, which decreased the market capitalisation of all cryptocurrencies.
With the exception of bitcoin, which could become bullish due to its quick gain and considerable to the difficulty of its mining network, bearish sessions at the beginning of the week have historically persisted long enough to reach the weekend.
Worldwide Updates Over $100 million has been invested in Mango, a decentralised financial network run on the Solana blockchain. The initial Twitter report of the exploit.
Early next year, Google will begin taking cryptocurrency payments for cloud services. The internet behemoth said it would accept cryptocurrency payments through a connection with cryptocurrency exchange Coinbase during Google’s Cloud Next conference. This week, a hard fork will be performed on the BNB (BSC) smart chain to remedy the October 6 exploit that caused the platform to lose approximately $100 million.
The oldest lender in the United States and the largest custodian bank in the world, Bank of New York Mellon (BK), now offers cryptocurrency custody services. Despite the present winter chill that shrouds much of the cryptocurrency business, cryptocurrency payment provider Ripple Labs has established new relationships in France and Sweden. This is part of its continued march toward Europe.
technical perspective from cryptocurrency exchange BuyUcoin Terra Classic (LUC) grows after updating to version 3. One of the few cryptocurrency assets to have experienced a big increase during the past 24 hours is LUNC. The most recent v3 upgrade development is anticipated to enhance the coin’s supply and may significantly affect values.
Supporters of Agencies Network (Terra Rebels) also revealed LUNC’s relaunch strategy, which boosted confidence in the coin. However, given that inflation data is expected this week, the growth impetus could be fleeting. Macroeconomic variables will determine the direction of future events.
News Summary:
- Bitcoin barely maintains a price of $19,000; Dogecoin increases by 3%; XRP and Solana decline
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