so it looks like one twitter account is responsible for most of the FUD coming out about USDC in the last couple of days. @CryptoInsider23 has made multiple post about the coming collapse of USDC, the biggest post has the following image attached. https://preview.redd.it/7gqttfkt8z891.jpg?width=2340&format=pjpg&auto=webp&s=767233183255649551addb9bd1c9d9911e6fcad3 these post have been countered by other people calling it…
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As of June 28, the bitcoin price fluctuated slightly above the $20K mark. However, toward the end of the day, it eventually dropped to $20K. The market watch also noted the bearish state in the price of most altcoins. These include DOGE, AVAX, SOL, and many others. Drawing from June 29 data, Bitcoin’s price has finally plunged below the $20K mark. Many renowned cryptos like the Ethereum, Shiba Inu, and Doge tokens also feel the heat of the bearish turn in the market. Bitcoin Lost The $20,000 Price Mark According to the news last week, Bitcoin made several attempts to come off the loss in value. During that time, its price shot from $17,500 to $21,000. This was a recovery from its 18-month low price mark. It sustained this $21K price mark until it hit its 10-day high price, a little over $21,800. Suggested Reading | Bitcoin Slides Under $20K – Another Collapse In The Offing? The journey to a higher price became abortive for BTC, and it eventually dipped lower than $21K. It attempted to hit this price, but all attempts proved unsuccessful. BTC’s unsuccessful attempts to appreciate eventually turned into a bearish trend toward $20K. According to the news on June 28, it managed to get slightly above the $20K benchmark. From today’s market watch, the price of Bitcoin has plunged below $20,000. At the time of writing, it is still fluctuating below this price, bringing its market cap below $400B. The Effect On Other Digital Tokens The bearish movement of Bitcoin’s price affects the rest of the digital tokens. This explains the several red bars in the crypto market chart. During the last weekend, Ethereum attempted to go higher amid the bearish state of the market. At the time, ETH was trading at $1,200. However, this did not last too long as Ethereum’s price currently sells at $1,116, about a 6.5% daily decline in price. According to the altcoins price data from CoinMarketCap, BNB now trades at $219. This is about a 7.5% 24 hours plunge in its price. There are other altcoins down trend records like SOL, DOGE, SHIB, and XRP, to mention a few. Suggested Reading | Ethereum (ETH) Hammered Down To $950 As Crypto Selloff Deepens Also, despite the slight appreciation of the LEO, Tron, and Cardano tokens, they remain in the chart’s red zone. So, judging from the current state of all crypto assets from 2 days back, the total dump in the overall market cap sums up to $60B. Adding this figure to the total drop in the market cap since the beginning of the bearish trend equates to $900 Billion. Featured image from Pexels, chart from TradingView.com
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SAND was up by over 15% on Friday, as crypto prices rebounded following sell-offs during Thursday’s trading session. SAND fell to a one-week low yesterday, with MATIC, another notable gainer, dropping to nearly a ten-day low on Thursday. Overall, crypto markets are up 1.30% as of writing. The Sandbox (SAND) SAND was one of the […]
Argentinian tax dodgers are seeing their cryptocurrency wallets seized by the local tax authority.
Is there a risk-free way to keep cash for crypto in the US? -It doesn't seem like any exchange is fully FDIC insured with USD. -Can't trust any stables in cold storage at the moment -All exchanges that I'm aware of take several days for bank transfers to clear before sending coins off of exchange.…
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If I decided to purchase 32 ETH, what would be the next steps towards becoming a consistent validator? Would it be a good investment right now with ETH prices heading towards $1000? submitted by /u/carmichael104 [link] [comments]
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The leading cryptocurrency in the world, Bitcoin (BTC), saw its worst quarter-over-quarter drop in 11 years. According to data from CoinGecko, BTC has lost over 57.43% in the second quarter of 2022. Additionally, by selling below $19,000 on the final day of Q2, Bitcoin had its most significant quarterly loss in more than a decade. The current state of the Bitcoin market is not good. The position was favorable even at the end of Q1 when it was approaching close to $50,000. But after that, things became more complex, and the price kept dropping. Related Reading | TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100 From $45,524 at the beginning of the year, bitcoin slid to a low of $17,593.2 on June 18. It recorded its worst-performing quarter as a result of its persistently negative price moves, which have seen it drop below $20,000 several times in June. According to CoinGecko data, BTC dropped by 38% over the month of June and is currently trading at $19,447.62. Since its launch in January 2009, the price of bitcoin has been on an up-and-down Ferris wheel. Like Q2 2021, the second quarter of 2022 will be referred to as the “Bloodiest Quarter In Crypto. Quarter 2 of last year lost more than 40% of its value. Concerns About Risks Due To Market’s Downturn Situation After the news that the Federal Reserve is preparing to reduce liquidity in the financial markets, Bitcoin fell precipitously and the downturn continued. Investors avoided riskier assets because of rising inflation and interest rates. As a result, the market lost huge profits. Throughout the quarter, several significant problems have surfaced. For example, Celsius; recently, the firm decided to halt all account withdrawals, raising concerns that the business would soon go bankrupt. Cryptocurrency exchange CoinFlex also stopped customer withdrawals on June 23, due to the harsh market conditions. CEO of CoinFlex, Mark Lamb stated: Due to extreme market conditions last week & continued uncertainty involving a counterparty, today we are announcing that we are pausing all withdrawals. Moreover, on the other hand, regulators have become ever more concerned about cryptocurrencies’ hazards. Everyone is terrified due to the recent failure of TerraUSD (UST) and the issues experienced by crypto lenders, including Celsius. In order to address the possible threat that crypto-assets can bring to the financial system, the European Systemic Risk Board (ESRB) urged urgent regulation to solve the situation. Related Reading | Avalanche Might Continue Its Downtrend As Price Slips To $16 In a report on June 30, the EU stated: While potential systemic implications stemming from these market segments currently seem limited, systemic risks could materialise quickly and suddenly. Europe is not the only one. There are 103 countries listed in November 2021 whose governments urged their financial regulatory agencies to set legislation and policies for financial institutions concerning cryptocurrency. Including France, Germany, Japan, Mexico, and many others. Featured image from Flickr, chart from Tradingview.com
