Welcome to the latest market news, the topics we will be discussing include, crypto, blockchain, Defi, Cefi, NFT, Ai, Web 3.0, and the global economy in general.
Here you will read about the latest events in the global economy and crypto every day, including important things such as market changes, new regulations imposed by governments for crypto and the adoption of crypto by banks and new Crypto projects, developments in Blockchain technology
1. General Market Status
* The total market cap is currently $3.25 trillion, while the total market volume traded in the last 24 hours is 195.81 billion. ◦ Market Dominance is currently held by Bitcoin with a 59.1% market share while Altcoins hold a 43.91% market share
* Altcoin Season Index is at 32%, indicating that altcoins are gaining traction
* Fear and Greed index is at 16%, indicating that investor sentiment is declining. ◦ Stablecoins such as USDT and USDC continue to play a significant role in the cryptocurrency market. USDT has a total volume of $147.10 billion in trading volume today, while USDC has a total volume of $19 billion.
* Bitcoin (BTC) is the most valuable cryptocurrency and is currently worth $95,636.21
* Ethereum (ETH) is the second most valuable cryptocurrency and has the most powerful blockchain. Its current price is $3,161.89
* Binance Coin (BNB) - is a coin owned by Binance and is used to pay for platform services. Its current price is $935.10
* Ripple (XRP) is a coin that belongs to Ripple that can be used to send money internationally quickly and cheaply. Its current price is $2.25
* Solana (SOL) - is a popular cryptocurrency and has the most popular blockchain. Its current price is $140.91.
2. Regulation & Market Policy
* The US Department of Justice (DOJ) has shut down a money laundering ring
* $15 million in USDT was seized during the operation.
* The United States' laws against money laundering are getting tougher. * The move has sparked further fears for the crypto market.
* Other countries are considering tightening regulations on crypto transfers.
3. ETFs & Institutional Investment
* A significant amount of money has been flowing out of Bitcoin ETFs today.
* Large institutions have reduced their exposure due to the Fed’s rate hikes.
* Some BTC ETFs have seen their worst performance this month.
* The strategies of some BTC holdings are beginning to be rethought. 4. New Coins Expected to Arrive on the Market
* Zcash (ZEC) is up over 16% today.
* Rumors in the altcoin market indicate that people are turning to new, cheaper tokens.
* New projects are in presale, and some are expected to go live this week.
5. Whale Investments Affecting the Market
* Many whales have started selling BTC on the market.
* Large cash movements have been recorded in Bitcoin addresses.
* Some whales have switched to stablecoins to avoid losses.
* Some whales are increasing the liquidity of specific altcoins.
6. Projects in Progress on the Market
* Many Web3 projects have been put on hold due to market downturns.
* Some crypto startups say they will receive new funding.
* DeFi projects have begun to update their security. 7. Blockchain Technology ◦ Growth in the use of Zero-Knowledge Proofs continues.
* New blockchain scalability developments are being tested.
* Some L2 networks have increased speed and low gas costs.
* New research suggests that blockchain can spread to African governments.
8. AI &
Web 3.0
* AI-based projects related to blockchain are receiving more funding.
* Many Web3 applications are moving to AI-driven analytics.
* Web3 data mining is being improved with AI automations.
* There is a strong debate about the future of AI connected to decentralized networks.
9. NFT &
DeFi
* NFTs have been somewhat weak in the market due to the overall crypto downturn.
* DeFi total value locked (TVL) has dropped significantly.
* DeFi projects have warned users to be cautious.
* Some creators have moved to AI-NFT generative art to increase usage.
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