Coin Monitor 14th September 2023
The leading virtual digital assets or VDAs prices have maintained steady posture on Thursday Asia trade, after the bankruptcy court allowed bankrupt crypto exchange FTX to sell its crypto assets. Also, slightly higher-than-expected headline inflation data in the U.S. barely moved the needle in favour of bear cartel which has turned active since last few days.
IC15 Index was trading up by 34,117 points by 1%.
Stock futures climbed Thursday morning as traders prepared for the August producer price index, a measure of wholesale inflation. Futures tied to the Dow Jones Industrial Average added 60 points or 0.23%. S&P 500 futures ticked up 0.29%, while Nasdaq 100 futures inched 0.27% higher.
Altcoins like Ethereum have seen a slight increase in value, while other altcoins like Binance Coin, Ripple, Cardano, Dogecoin, Tron, Polkadot, and MATIC have seen minor gains. Larger-cap alts like Solana and Litecoin have seen the most significant gains.
In another news, A U.S. Bankruptcy Court judge has approved FTX’s motion to sell and invest its crypto holdings to repay creditors. Judge John Dorsey approved the motion and overruled opposing objections, allowing FTX to sell, stake, and hedge its holdings worth over $3.4 billion. The decision was supported by a lawyer for the ad hoc committee of FTX customers and a representative of the unsecured creditors committee.
Furthermore, Sui Network, a layer-one blockchain, has simplified Web3 onboarding by allowing users to sign up for Sui-powered apps without managing an external crypto wallet or seed phrase. The Sui Foundation announced that users can now login into decentralized applications using Google, Facebook, and Twitch login details via a new zkLogin feature, eliminating the need for Web3 wallets.
Moreover, Western Union CEO Hikmet Ersek has announced that the company is exploring a collaboration with Ripple (XRP), a move that has gained attention in the cryptocurrency community. The collaboration could potentially improve Ripple’s situation after losing its affiliation with Moneygram International due to the Ripple case. The XRP chart has been bullish since Ersek hinted at it, and analysts predict a significant rally towards $0.800 before the year ends.
The stablecoin sector has seen net outflows, with Tether (USDT) dominating the market to nearly 70%, according to a report by on-chain analytics firm Glassnode. In addition Opera, a mobile web browser, plans to introduce a non-custodial stablecoin wallet, MiniPay, for its African user base. The wallet, based on the Celo blockchain, will allow users to send or receive stablecoins using their pre-existing mobile numbers. With over 100 million users in Africa, Opera plans to roll out MiniPay in Nigeria in the coming months.
Bitcoin was trading at $26,343 up 0.7%
Ethereum the second largest crypto was up by 1.4% trading at $1,623
BNB was up by 0.2% to trade at $212
Solana SOL was up 3.8% and was trading at $18.8
Cardano’s ADA token was up by 0.24% to trade at $0.24
Avalanche AVAX was trading at $9.3 higher 0.6%
Doge the popular meme coin was trading up by 0.35% at $0.061
Shiba Inu was trading up by 0.1% at $0.000007
Ripple’s XRP token traded at $0.48 up by 0.1%
Polkadot was up by 0.4% to trade at $4.3
Polygon MATIC was trading up by 0.8% to trade at $0.51
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