Aside from stablecoin USD Coin, the majority of tokens traded higher on Wednesday. Cardano gained more than 10 percent while Avalanche gained 6 percent. Bitcoin, Ethereum and XRP each gained 5 percent.
The global cryptocurrency market cap traded significantly lower at the $1.26 trillion mark, up more than 4 percent in the past 24 hours. However, total cryptocurrency trading volume increased by about 4 percent to $84.4 billion.
Charles Tan, Chief Marketing Officer, Atato, a crypto custody wallet, said that overall crypto market sentiment was on the positive side, even as Bitcoin fell below the $30,000 mark before hitting the $31,000 mark. Reclaimed brand.
“The crypto market needs some relief, which could come from cooling inflation and the Fed easing monetary policy and interest rates. It is important to note that the US will release a consumer price index next Friday,” he added.
MoneyGram is partnering with the Stellar Development Foundation to launch a service that will allow users to seamlessly send stablecoins and convert them to fiat, WazirX Trade Desk said.
“Users with Stellar network wallets will be able to convert their crypto to Circle’s USD coin once the service is launched (USDC). You can then withdraw the stablecoin through the MoneyGram network,” it added.
A sweeping, bipartisan crypto bill was presented Tuesday by U.S. Senators Cynthia Lummis and Kirsten Gillibrand, seeking to expand a comprehensive rulebook for digital assets across the U.S. and giving industry lobbyists something pithy to debate.
The Metaverse may be in its infancy, but it could represent a revenue opportunity of up to $13 trillion and have major implications not only for major tech players but also for cryptocurrencies, according to a report by Citi.
The use of public blockchains leads to fragmentation, meaning crypto could never be a viable means of payment, said economists at the Bank for International Settlements (BIS).
IRA Financial Trust, the crypto retirement account provider that lost $37 million to theft in February, has sued Gemini — its custodian and trading partner — for allegedly shoddy security protocols, which it claimed led to its customers’ accounts being drained became.
A letter detailing the benefits of bitcoin and stablecoins for people facing political oppression and economic hardship has been sent to the US Congress by 20 human rights activists.
Indonesian cryptocurrency exchange Pintu has raised $113 million in a Series B funding round with investments from venture capital firms Intudo Ventures, Lightspeed Venture Partners and Pantera Capital, and investment advisory firm Northstar Group.
Tech view of BuyUcoin cryptocurrency exchange
Chainlink rises on Solana integration. Chainlink (Link) has seen double-digit growth over the past 24 hours, mainly due to the Solana integration and long-term staking strategy. One link has rallied more than 11 percent and is currently trading around the $9 level, indicating increased interest from the investment community.
The recent Solana integration is expected to bring many Defi projects to Chainlink to use its price feeds, and the fact that the Solana Defi ecosystem is a fast-growing ecosystem is also expected to fuel the growth of advance link.
The current uptrend could gain momentum if the broader macroeconomic factors surrounding the crypto market improve, but investors should trade with caution as the market is currently in a corrective phase.
(The views and recommendations contained in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in the assets mentioned.)