The global cryptocurrency market cap is trading above $ 1.28 trillion, jumping more than 3 percent in the last 24 hours. However, the total cryptocurrency added about one percent of the trading volume to $ 82.39 billion.
Acceptance of experts
Edul Patel, co-founder and CEO of Mudrex, says Bitcoin, Ethereum and most cryptocurrencies have risen after witnessing a sharp fall. Bitcoin is currently trading above the 30,000 mark as buyers respond to the over-selling condition, he added.
Patel said Bitcoin could face resistance above $ 33,000, while support is at $ 27,000. The upward trend may be limited as the momentum still seems to be negative on the chart.
Kunal Jagdale, founder of BitsAir Exchange, says rising inflation concerns and concerns about the global economic downturn are affecting the perception of risky assets, including crypto.
“In the crypto market, Bitcoin has been able to move beyond the pessimism and move closer to the $ 30,000 level. Only time will tell if it can swim against the tide of emotion,” he added.
Tether, the world’s largest stablecoin, said Thursday that it has increased its holdings in U.S. government debt as it cuts exposure to risky assets, a first look at its reserves since the token was pushed by recent sales in the crypto sector.
Do Cowan, founder of Terraform Labs, announced an on-chain governance proposal on Wednesday morning, and even the results of the initial online vote on a hard fork plan have garnered minimal support among community members.
Nomura’s new digital-asset subsidiary, announced earlier this week that Japanese investment banks could overtake US and European rivals, will begin focusing on cryptocurrencies, said Jazz Mohidin, the unit’s newly appointed CEO.
Blockchain gaming company Azra Games has raised বী 15 million in a seed funding round led by Andresen Horowitz, a venture capital firm also known as a16z.
Capital Azra’s first game, a science fiction / fantasy collectible and mass war role-playing game code-named project will help fund Arcanas.
BuyUcoin Tech View by Cryptocurrency Exchange
Kusama rallied to announce the unlocking. Kusama (KSM), the native token of the Kusama network, has risen nearly 12% since the news spread on the Internet that 1.1 million KSM tokens have been unlocked by its parent network. The increased supply of tokens has led to massive buying from investors which has led to the best assemblies of KSM in recent times.
Two years ago, KSM traded at less than a dollar, and today it is close to $ 80, the data suggests that KSM’s early investors are sitting on huge profits right now.
Kusama is part of a larger polka dot unit and many projects are using it for live testing of their applications. The future of KSM looks promising and its future success will depend on the macroeconomic factors surrounding the financial markets.
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