Bitcoin Remain Flat; Solana Jumps On Visa Stablecoin Announcement
By Laxmikant Khanvilkar
The leading virtual digital assets or VDAs prices remain largely unchanged during Wednesday’s early trade in Asia as there was little news flow to drive the markets.
Bitcoin (BTC) was hovering near the flatline while Ethereum (ETH) managed to edged up after underperforming the markets in the last two sessions.
BTC, the largest cryptocurrency by market capitalisation, was recently trading 0.11% up at $25,789. ETH, the second largest crypto in market value, was quoting 0.50% higher in the last 24-hours to $1,633.31.
Elsewhere, in stablecoins, Solana blockchain native token SOL jumped after Visa announced it will expand its stablecoin capabilities to the Ethereum alternative.
Visa, the payment giant, will soon introduce settlement of the USDC stablecoin over the Solana network to improve the speed of cross-border settlement.
The global crypto market cap rose 0.16% to $1.04 tn, over the last 24-hours. Simultaneously, the total crypto market volume gained 1.72% to $24.62 bn. The total volume in DeFi is currently $2.13 bn and all stablecoins $23.77 bn, representing 8.66% and 96.55% respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance eased 0.06% to 48.24%.
IC15 index, the barometer of top fifteen tokens, edged up 0.24% to 33,831.89.
Meanwhile, Ethereum whales have begun to send large amounts of ETH to centralized exchanges. Santiment report posted on the X (formerly Twitter) platform has shown that Ethereum whales may be looking to exit stage at this time. The whales have moved 300,000 ETH to Coinbase. Elsewhere, the Grayscale has asked SEC to expedite its Spot Bitcoin ETFs application approval process.
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