crypto price today: Crypto Price Today: Bitcoin holds $17k; Dogecoin, Ethereum and Solana gain up to 4%

Synopsis

Bitcoin held the $17,000 mark, whereas Ethereum was marching towards the $1,300 mark. The Federal Open Market Committee would likely raise interest rates 50 basis points instead of continuing its current diet of 75 bps.

New Delhi: The crypto market remained firm during the early Asian hours on Monday as the investors were hopeful at a more dovish US Federal Reserve.

Bitcoin held the $17,000 mark, whereas Ethereum was marching towards the $1,300 mark. The Federal Open Market Committee would likely raise interest rates 50 basis points instead of continuing its current diet of 75 bps.

Barring the Tron, top crypto tokens were trading higher on Monday. Solana jumped more than 4%, whereas Etheruem, Dogecoin and Polkadot were 3% up each. Tron dropped over a per cent.

The global cryptocurrency market cap was up as much as 2% in the last 24 hours at $866 billion. The total trading volume jumped about 9% to $33.10 billion.

Did you Know?

S has launched a new enterprise on the Metaverse with the aim of accelerating cloud adoption among Indian firms. The interactive and immersive ‘cloud on wheels’ platform will enable customers to experience the full range of S ’s offerings and reimagine processes for improved business outcomes.

View Details » Global updates
Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won’t survive.

FTX’s digital currency futures and clearing house LedgerX is up for sale and has attracted interest from crypto firms including Blockchain.com, Gemini, Bitpanda and Kalshi, Bloomberg reported on Friday, citing sources.

Core Scientific, Bitfarms and Genesis Digital Assets are among miners that have direct and indirect exposures to the fallout.

The crypto exchange’s subsidiary has confirmed Japanese customer funds will remain separate from the ongoing bankruptcy proceedings in the US.

Print EditionPrint EditionMonday, 05 Dec, 2022Experience Your Economic Times Newspaper, The Digital Way!Read Complete Print Edition »

  • Front Page
  • Pure Politics
  • Companies
  • Companies & Sports
  • More
    • RBI may Opt for a Smaller Rate Hike this Week: ExpertsRBI may Opt for a Smaller Rate Hike this Week: Experts

      Easing inflation expectations both in India and abroad, indications of slower rate hikes in the US and worries over a global economic slowdown are likely to ensure a smaller interest rate increase by the Reserve Bank of India (RBI) this week, bankers and economists expect.

      Rules for Indian Financial Sector Need to be ReviewedRules for Indian Financial Sector Need to be Reviewed

      Reserve Bank of India (RBI) rules restrict Indian banks from lending to companies for takeovers. The Indian central bank always viewed lending against shares as a risky activity because a sudden collapse in stock prices could leave banks holding worthless paper. They can lend only up to Rs 20 lakh, a rule that was set after the so-called Harshad Mehta scam of 1992.

      Deadline for Filing Charge Sheet in FocusDeadline for Filing Charge Sheet in Focus

      A special CBI court judge, while dealing with a bail application in India’s biggest bank fraud case, called for legislation to extend the deadline for filing of charge sheets in “highly serious” cases, highlighting the difficulties faced by investigating agencies in completing complicated case probes.

    Source

    Updated: 12/05/2022 — 02:00