Market Will go Down After The US CPI is Announced: Poll
A poll on Cointelegraph asks readers to vote on what they think will happen to the cryptocurrency markets once the US consumer price index is released.
Crypto market
VeChain Foundation’s Q2 Reserves Down by 44% Over Q1
VeChain Foundation’s financial report disclosed $535 million in crypto reserves for the Q2 of 2022. Read CNL to learn more.
NY Times: Worldwide Currencies Tumbles Except Bitcoin
While global major assets plunges, Bitcoin slightly increased. Major currencies all over the world weakened over the strong US dollar. Bitcoin saw an increase of 6.5 percent during this week. Over the past few weeks, currencies all over the world tumbles against the US dollar, forcing an increase in the prices of basic necessities, the rate of debt payments, and the risk of a global recession by 2023. A strategist at Morgan Stanley outlined that the latest rally of the US dollar will start an “untenable situation” for risky assets that could lead to a financial or economic crisis. Earlier
CMC: The Market Is Finally Greener
According to Coinmarketcap`s Daily Chronicle, “it’s finally green”. The overall market has seen a Total Market Capitalization of $929.44 Billion. Bitcoin is up by 3.68 percent. The current crypto downturn has seen individual traders, as well as organizations and cryptocurrency pairs, suffer severe losses in their operations. However, according to Coinmarketcap`s Daily Chronicle, “it’s finally green.” The CMC media team believes that even when the changes are minor, it’s still getting green. This comes after the overall market has seen a Total Market Capitalization of $929.44 Billion which is significantly a 0.65 percent increase over the last 24 hours. The
Nomura Has Launched a Crypto-Focused VC Unit
Nomura is establishing a new venture capital division. The unit will invest in businesses within the digital ecosystem. Steven Ashley and Jez Mohideen will lead the new division. One of Japan’s largest investment banks, Nomura, is establishing a new venture capital division to make investments in the cryptocurrency market. According to a statement released by Nomura on Wednesday, the unit will invest in businesses within the digital ecosystem with a focus on web3, blockchain infrastructure, decentralized finance (DeFi), and centralized finance (CeFi). The first offering from Nomura’s new digital assets division, Laser Digital, which was given the name today, will
JP Morgan Execs Make Opposing Statements on Crypto
JP Morgan CEO Jamie Dimon claims cryptocurrencies are decentralized Ponzi schemes. Global Head of Payments Takis Georgakopoulos revealed that they are seeing a decline in the use of crypto for payments. Head of Global Operations Marko Kolanevic believes crypto will rally in 2023 alongside stocks. JP Morgan executives have made strong — and albeit contradictory statements — about cryptocurrency in the last couple of days alone. On one side of the ring, CEO Jamie Dimon blasted cryptocurrency, claiming that it is nothing short of a decentralized Ponzi scheme. In congressional testimony last January 21, Dimon said that he remains a
BitGo On Galaxy Lawsuit: $1.2B Takeover Would be ‘Financially Unpalatable’
Galaxy Digital was sued for $100M for discarding the BitGo takeover deal. BitGo holds Galaxy accountable for the bad faith the merger agreement brought. Damages to BitGo claimed to be not less than $100 million. Last Tuesday, BitGo Inc. filed a lawsuit on seal against Galaxy Digital Holdings Ltd. for walking away from its $1.2 billion takeaway deal. BitGo, a digital asset custodian, seeks at least $100 million in damages, as per the civil complaint in Delaware chancery court. According to the court filing made public last Thursday, Galaxy “deliberately and illegitimately caused the failure of the Merger,” because “acquiring
Cryptocurrency market value slumps under $1 trillion
Global cryptocurrency market cap falls under $950,000,000,000. Investors sold out riskier assets in the previous two months. The technology that underpins cryptocurrencies has significant uses in industries. According to the statistics website CoinMarketCap, the value of the cryptocurrency market on Monday dropped below $1 Trillion for the first time since January 2021, dropping as low as $950,000,000,000. The market for cryptocurrencies as a whole reached a peak of $2.9 trillion in November 2021, but it has since sputtered. Due to soaring inflation and concerns that central bank interest rate increases will stifle growth, investors sold out riskier assets in the
Current Bear Market Could Be Best and Last Chance to Buy
One investor says now is the ebay time to buy crypto assets. They remember what previous dips were like and how they preceded massive bull runs. Many are buying every month as they await the bull run. The last few months have been more than challenging for the crypto market and the crypto community is looking everywhere for signs of hope. The overall sentiment seems to be to buy the super dip, but is the super dip truly here? According to a discussion on the CryptoCurrency thread on Reddit, one user advises the crypto community to buy what they feel
$69B out of the crypto market cap in the past 24 hours
$69 billion was lost in the cryptocurrency market within a single day. Bitcoin prices plummeted by nine percent, hovering around the $20,300 mark. S&P 500 is down over four percent from last week. According to reports, the cryptocurrency market has seen $69 billion of its value wiped out in 24 hours alone as leading cryptocurrencies continue an almost week-long sell-off. Bitcoin dropped by nine percent to around $20,300, its lowest price since July 2021, while Ether dropped six percent to $1,611 its lowest price since late July. Bitcoin has also been compared to “digital gold,” a potential safe-haven asset and
More Than 500M New Consumers Could Buy Crypto By 2030
An estimated 500 million more investors will enter the financial market by 2030. In 2017, there were only less than 7 million crypto investors. The price of Bitcoin is currently $22k per unit. According to a news story shared by economic and macro analyst Alex Krüger, 500 million more investors will enter the financial market by 2030, bringing the total number of investors to 2.6 billion, according to his calculations. According to the data in the study, a new layer of investors will develop in Asian and African countries. The two primary regions that provided most of the capitalization for
S&P 500 Bounced Off Support, Crypto Rally Underway?
The level of the S&P 500 stock index demonstrated a rebound off the support. Cryptocurrency at large has proved resilient in the past months. Sustained trading above the 100 SMA might result in fresh multi-month highs. According to a market analysis by a Twitter analyst, Lark Davis, the cryptocurrency rally is underway. This comes after the S&P 500 stock index level showed a bounce off of the support. This indicates a positive trend in the market which has been in bearish sentiment for the past few months. Even after Wednesday’s rise, markets are still mostly declining. Some investors are staying
