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Coin Monitor
Leading virtual digital assets (VDAs) prices continue to trend lower in the past 24-hours, on prospect of higher interest rates for a longer period, which is likely to roil global financial markets.
IC 15 index of cryptocurrencies was trading down by 0.32% at 35,550 points.
Price of Bitcoin (BTC), the largest cryptocurrency by market capitalisation, is little changed at $28,400 despite roughly 1% declines in the S&P 500 and Nasdaq.
The start of the business week was quite positive for the primary cryptocurrency, which pumped by around a grand on Monday morning after a sluggish weekend. Furthermore, one of the most notable price pumps in months came later that day amid false reports claiming that the US SEC had finally approved a spot Bitcoin ETF.
The bulls tried to initiate a few more price pumps the following days, which culminated in another challenge of $29,000 yesterday. However, the cryptocurrency failed to overcome that level and has lost several hundred dollars since then.
Meanwhile, the altcoins have turned red on a daily scale now. The only exceptions from the larger ones are LEO, UNI, and MNT.
In an interesting update, Bitcoin miner Marathon Digital will stash some of its digital assets with Fidelity Digital Asset, adding a second custody partner in an attempt to diversify.
The global cryptocurrency market cap was at $1.08 trillion-mark decreasing 0.57 per cent in the last 24 hours. The total trading volumes decreased by around 15.5 percent to $38 billion.
Bitcoin’s strong showing drove its market share among all cryptocurrencies – also known as the Bitcoin Dominance Rate – to over 51%.
Most alternative coins mimicked BTC’s pump and dump following the fake reports but are now trading in the red.
Interestingly, Morgan Stanley Wealth Management said in a post on its website examining whether the recent bear market in digital assets has run its course.
“Based on current data, signs indicate that crypto winter may be in the past and that crypto spring is likely on the horizon,” the post said.
U.S Stock futures traded lower as earnings season gained steam and market participants focused on further key financial reports.
Futures tied to the Dow Jones Industrial Average gained 16 points.S&P 500 futures and Nasdaq-100 futures added 0.08% and 0.24%, respectively.
Bitcoin was trading at $26,450 up 0.2%
Ethereum the second largest crypto was down by 1.9% trading at $1,550
BNB was down by 1.3% to trade at $210
Avalanche AVAX was trading at $8.9 lower 2.3%
Doge the popular meme coin was trading down by 1.27% at $0.058
Ripple’s XRP token traded at $0.48 down by 1.58%
Solana SOL was down 0.20% and was trading at $23.96
Cardano’s ADA token was down by 1.6% to trade at $0.24
Polygon MATIC was trading down by 2.12% to trade at $0.51
Shiba Inu was trading down by 2.60% at $0.000007
Polkadot was down by 1.94% to trade at $3.62
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