Bitcoin held the $19,000 mark, while Ethereum slipped below the $1,300 mark. Cryptos followed stock markets, which were charting miserably amid mounting fears.
Major crypto tokens were trading mostly lower on Monday. Except for stablecoins, BNB and Tron were the only altcoins in green. XRP plunged more than 5%, while Etheruem, Cardano, Solana, Dogecoin and Avalanche lost 2% each.
The global cryptocurrency market capitalization traded slightly lower at $928.34 billion, falling about 1% in the past 24 hours. However, total trading volume soared by 24% to nearly $45.24 billion.
What’s cooking in India
Amid the current global economic downturn, crypto exchange WazirX has reportedly laid off 40% of its workforce. A total of 50 to 70 employees out of the exchange’s 150 workers were invited to attend, IANS reported, citing sources.
Uzbekistan now requires licensed crypto companies in the country to pay a monthly fee which will mostly go to the state budget, an official document released.
Crypto exchange Binance has been registered as a financial services provider in New Zealand and has launched Binance New Zealand, according to an emailed announcement.
Adam Todd, founder of crypto futures and cash exchange Digitex, has been indicted by the Commodity Futures Trading Commission for multiple violations of the Commodity Exchange Act.
Crypto investment firm Paradigm led an $11.8 million fundraising round in Blowfish, a firewall provider looking to help Web3 companies combat cyberattacks that can often affect their products and services.
Technology company MicroStrategy is looking to recruit a Software Engineer to build a software-as-a-service (SaaS) platform based on Lightning Network.
Technical Analysis by Proassetz Exchange
After a breakout at $6.60 and an exit from the boundary zone, the link may rise. Currently, a good $0.6.60 and $7 support zone is active. The resistance level is around $8.00 and $8.65. Any break above that can lead to $9.50. A strict support level of $6 is still important
(The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in any assets mentioned.)