Bitcoin Stable Near $29.3K; Court Revoke SBF’s Bail
By Laxmikant Khanvilkar
Leading virtual digital assets (VDA) were largely seeing listless trade during the Asian session Monday morning, even after FTX founder Sam Bankman-Fried returned to jail ahead of the trial. Judge Lewis Kaplan has revoked SBF’s bail.
Bitcoin (BTC) was holding up very well with its price anchored near $29,300 mark. Recently, BTC was trading 0.63% lower at $29,240.76. The largest cryptocurrency by market capitalisation has led the consolidation among crypto following the PayPal’s decision to launch its own stablecoin.
Analysts have maintained that the price stability is a positive sign, indicating consolidation around these levels that can potentially support another leg up.
Ether, the second largest crypto in market value, retreated lower as well. It was recently changing hands at $1,839.01, a fall of 0.58%.
The market is stuck whilst it awaits new fundamental information, analyst added.
The global crypto market cap, decreased 0.45% to $1.17 tn, over the last 24-hours. On the other hand, the total crypto market volume rose 18.07% to $19.47 bn. The total volume in DeFi is currently $2.19 bn and all stablecoins $17.98 bn, representing 11.24% and 92.39% respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance reduced 0.01% to 48.73%.
IC15 index, the barometer of top fifteen tokens, eased 0.43% to 38,560.
Meanwhile, FTX founder SBF was slated to attend a court hearing today. In other news, SEC has pushed out decision on Cathie Wood’s Ark 21Shares Bitcoin ETF application.The regulator is reviewing more than a dozen spot bitcoin and ether future ETF applications.
An interesting update is received from Shiba Inu’s native token SHIB. It’s future contracts has topped $100 million for the first time since February.
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