After a speedy recovery on the weekend, the cryptocurrency market was back in red, which reminded the dreary days of September when the recession and inflation worries hurt the market a lot. Bitcoin coin of crypto held the $ 19,000 mark when Ethereum was slipping below the $ 1,300 mark. Amid rising fears, crypto tracked equities markets.
Top cryptocurrency tokens traded lower mostly on Monday; if you notice, the stablecoins, Tron, and BNB were the only altcoins in green on the chart. XRP moved over 5 percent, whereas Cardano, Ethereum, Solana, Avalanche, and Dogecoin shed 2 percent each.
The global crypto market cap was trading lower marginally at $928.34 billion, dropping about a percent in the last twenty-four hours. If you analyze the total, trading volume zoomed as much as 24 percent, which is close to $45.24 billion.
Global Updates About Cryptocurrency
In the middle of the global economic slowdown, crypto exchange WazirX has reportedly laid off 40 percent of its workplace. A total of 150 workers at the exchange were asked to go as per the sources.
Uzbekistan needs licensed crypto companies in the country to pay the monthly fees. This monthly fee will go to the Budget. Cryptocurrency exchange Binance has registered as a financial service provider in New Zealand and also launched Binance New Zealand.
Adam Todd, founder of crypto futures and also spot market exchange Digitex, has been charged by the Commodity Futures Trading Commission with multiple violations of the Commodity Exchange Act.
The crypto investment firm paradigm led to the funding of an $11.8 million round in Blowfish. A firewall provider is looking to help Web3 firms fight cyberattacks that can plague their services and products.
MicroStrategy, a technology company, is looking to recruit a software engineer to build a lightning Network-based software as a service platform.
Top Cryptocurrency tokens were trading lower, whereas now BNB, Tron, and XRP reached 5 percent, while Cardano, Solana, Ethereum, Dogecoin, and Avalanche shed 2 percent each.
There are top Cryptocurrency gainers on the chart updated by Crypto Corner. Decentralized social, Ergo, Maker, Constellation, Polymath, Baby Doge Coin, and Flux are the high gainers in the chart.
Cryptocurrency & Stock Market
Chilliz, Kirobo, Huobi, Terra Luna Classic, XRP, Evmos, and Stellar are the Cryptocurrency losers in the updated chart. The most active cryptocurrency volume includes Tether, Bitcoin, Binance USD, Ethereum, XRP, Terra Luna Classic, and USD coin. According to the chart, the top Cryptocurrency by MCap is Ethereum, Bitcoin, USD coin, XRP, BNB, Binance USD, and Tether. On 3rd October, Bitcoin was ₹ 15,70,974, and Ethereum was ₹ 1,05,664.
Last week, Bitcoin struggled for direction, trading between $18,000 and $25,000. Bitcoin has faced this since mid-June after the crash saw about $2 trillion wiped off the entire cryptocurrency market since its peak in November.
While controlling inflation also insolvency issues, the market decline was driven by interest rate rises from central banks. Digital currencies have been closely correlated to U.S. stock markets this year, while Crypto investors have been watching monetary policies.
Bitcoin was sliding back under $19,000 as the stock market was also falling deeper into a bear market. Cryptocurrency bitcoin topped $20,000 on Tuesday last week, which is considered its highest level in more than a week. Bitcoin is still struggling to make its condition in its tight trading range.
This was last week’s overview of Bitcoin and cryptocurrency, which fluctuate every week. Traders need to update every week about crypto, and the economic trade gets benefits sometimes. Sometimes downfall in crypto causes a lot of problems for the stakeholders and investors.