Crypto Price Today Live: Bitcoin barely holds $19k; Dogecoin rises 3%, XRP & Solana drop

Synopsis

“In the past, bearish sessions at the beginning of the week have lasted long enough to reach the weekend, so there may be an opportunity for planned averaging except for bitcoin which could turn bullish due to its sudden and significant difficulty increase in its mining network,” he added.

New Delhi: Crypto market was trading mixed on Wednesday as investor sentiments remain fragile over the latest inflation signals ahead of the US Fed data on rising prices.

The data could move prices, although Federal Reserve bankers in their recent remarks have reiterated their commitment to prioritize staunching inflation, which they view as the biggest threat to the economy.

Top crypto tokens were trading mixed on Wednesday. Dogecoin gained 3 per cent, Bitcoin and Ethereum were also up. XRP and Solana shed 3 per cent each, followed by a one per cent slump in Shiba Inu and Polygon.

The global cryptocurrency market cap was trading flat at $919.50 billion, rising maringally in the last 24 hours. However, the total trading volume dropped almost 12 per cent to $48.55 billion.

Did you Know?

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Expert’s take
Sathvik Vishwanath Co-Founder and CEO, Unocoin said that the majority of cryptocurrencies were trading down, pushing down the market capitalization of all cryptocurrencies lower.

“In the past, bearish sessions at the beginning of the week have lasted long enough to reach the weekend, so there may be an opportunity for planned averaging except for bitcoin which could turn bullish due to its sudden and significant difficulty increase in its mining network,” he added.

Global Updates
Mango, a decentralized finance platform hosted on the Solana blockchain, has been exploited for over $100 million. The exploit was initially reported on Twitter.

Google will start accepting crypto payments for cloud services early next year. Announced at Google’s Cloud Next conference, the tech giant said it will receive crypto payment via an integration with crypto exchange Coinbase.

The BNB Smart Chain (BSC) will this week perform a hard fork as a fix for the exploit on Oct. 6 that drained an estimated $100 million from the platform.

The world’s largest custodian bank and the oldest lender in the US, Bank of New York Mellon (BK), has added cryptocurrencies to its custody services.

Cryptocurrency payments company Ripple Labs has formed new partnerships in France and Sweden, continuing its march into Europe despite the current wintry freeze enveloping much of the crypto industry.


Tech view by BuyUcoin cryptocurrency exchange

Terra Classic (LUNC) surges on v3 upgrade. LUNC is one of the few crypto assets which has witnessed a significant jump in the last 24 hours. The latest development of v3 upgrade is expected to increase the supply of the coin and may have a significant impact on its prices.

Charrt-LUNC
The network supporters (Terra rebels) have also announced the revival plan for LUNC which has created a positive sentiment around the coin. However, the growth momentum may be short lived as the inflation numbers are expected this week. The macroeconomic factors will decide the future course for the majority of crypto assets.

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)

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Updated: 10/12/2022 — 02:00