24 Hrs Crypto Update,16 July: BTC hold $30K, other tokens mixed
- BNB, LINK, and ADA experienced significant declines within the last 24 hours, suggesting selling pressure on these popular cryptocurrencies
- Bitcoin recovered from the weekend losses, showing modest gains to remain above $30,000. Ethereum also rose slightly, though below $1,950. Altcoins displayed varied prices, but with a tendency towards the downside
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $30300 | 0.04% |
| ETHEREUM | $1925 | 0.41% |
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.26 T | 0.40% |
| TRADING VOLUME | $30.30 B | 52.95% |
| Indices | LTP | Change (%) |
|---|---|---|
| UniDex | $2.68 | 3580.02% |
| renBTC | $31896 | 131.05% |
| FutureCoin | $0.17 | 120.27% |
| Bread | $0.0098 | 80.48% |
| Populous | 0.052 | 53.73% |
| Indices | LTP | Change (%) |
|---|---|---|
| FINSCHIA | $6.71 | 79.43% |
| HectorNetwork | $1.21 | 64.35% |
| RIZON | $0.00036 | 63.16% |
| BombMoney | $0.0037 | 39.94% |
| dfohub | $0.00055 | 34.91% |
Bitcoin holds $30,000; Ethereum above $1,900; XRP rallies 6%
Bitcoin and other cryptocurrencies rebounded after weekend concerns, caused by profit-taking. Despite this, trading sentiment remains positive due to strong retail demand indicated by Toronto's Purpose Bitcoin ETF. Additionally, a favorable ruling from a US court further supported digital tokens.
Major Events Around the World
TerraUSD Classic (USTC), the algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, is experiencing a remarkable surge in interest today. The stablecoin has seen a substantial increase of 25.48% in the past 24 hours, reaching a value of $0.01624. Although the exact cause of this resurgence is uncertain, it is worth mentioning that the growth seems to be organic, evident from the overnight buying momentum.
The XRP lawsuit has generated significant discussion among industry observers and legal experts, particularly regarding the potential final outcome. Recently, Charles Gasparino, a prominent media personality and Senior Correspondent at Fox Business Network, took to Twitter to address the Ripple community, referring to them as "XRP pumpers." Gasparino acknowledged that Ripple may be rejoicing over the favorable disposition in the Summary Judgment (SJ), which determined that XRP does not qualify as an investment security. However, he emphasized that the blockchain payments company may still be required to make financial payments, potentially in the form of fines, if they happen to lose the case.
Binance, a leading cryptocurrency exchange, has successfully integrated the Bitcoin Lightning Network into its platform for seamless BTC withdrawals and deposits. This significant development was officially announced by Binance in a blog post on July 17th. With this integration, Binance users now have the option to utilize the layer-2 scaling solution for their Bitcoin transactions.
COIN GABBAR Views:Could the crypto market be entering a consolidation phase? Is there a possibility of BTC mirroring XRP's trajectory and reaching $40,000 by the end of July? Despite this, can we still perceive positive trading sentiment due to robust retail demand indicated by Toronto's Purpose Bitcoin ETF? Furthermore, could a favorable ruling from a US court continue to provide support for digital tokens? Stay tuned for the latest news at www.coingabbar.com
Also read: FTX Sues Founder and Former Leaders, Seeking $323M Refund
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.
