Ether Tentative Ahead Of Shanghai Upgrade
By Laxmikant Khanvilkar
The virtual digital asset or VDA space is witnessing a rather sanguine moment as traders await for fresh cues.
As earnings season approaches, analysts expect some more shake up in the U.S. banking space. We will hear from the banks in less than two weeks and could hear more concerns about turmoil. The banking crisis is far from over and that still could prove to be positive for private digital currencies.
Bitcoin, the largest private digital currency by market value, was last struggling to stay over $28,000 mark.
Ether (ETH), the native token of the Ethereum blockchain, circled above $1,900 for much of Wednesday, a week before the Shanghai hard fork.
The second-largest cryptocurrency by market capitalization was recently trading at $1,899.05, down 0.7%. Earlier in the day ETH surged to $1,941, its highest level since last August.
The global crypto market capitalization stands at $1.19 trillion, a decline of 0.49% in the last 24 hours. The total crypto market volume during this period was $43.66 billion, representing a 2.95% increase. Decentralized finance (DeFi)’s share of the entire crypto market volume is $4.70 billion, amounting to 10.77%. Stablecoins have a total volume of $37.93 billion, which is 86.87% of the total crypto market volume. Bitcoin’s dominance currently stands at 45.62%, a reduction of 0.27% from the previous day.
Meanwhile, Michael Saylor’s MicroStrategy (MSTR) purchased an additional 1,045 bitcoin (BTC) for a total of $23.9 million, or an average price of $28,016, between March 23 and April 4, according to a Securities and Exchange Commission filing. This latest purchase brings the company’s bitcoin holdings up to approximately 140,000, worth roughly $4 billion at the current price.
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