Coin Monitor- Coin Updates
By Shubham Joshi
Virtual digital assets or VDA markets continued to trade lower as investors stayed cautious ahead of key economic data and a healthy correction after recent surge to several months high. Bitcoin hovered around $27,500 levels.
IC 15 index of cryptocurrencies was trading down by 0.1% at 37,860 points
In another interesting news,the world’s largest cryptocurrency exchange Coinbase sued the Securities and Exchange Commission for clarification on the regulation of digital assets. However, Coinbase CEO Brian Armstrong sponsored an NFT project that sought to express unity for the crypto community seeking sensible crypto policy.
On the same day that Coinbase Global Inc. announced it was suing the Securities and Exchange Commission, Ark Invest, an American investment management company led by CEO Cathie Wood purchased nearly $8.6 million of Coinbase shares, reports said.
Meanwhile, analysts continue to back BTC as an asset class without counterparty risk and enjoying a more compelling value proposition amid the turmoil recently experienced in the banking sector. A confirmation to the BTCs price prospect was provided by the CitiBank report as well.
Last week, ethereum layer 2 companion networks’ total value locked reached $10 billion, the highest level yet. However,data from layer 2 analytics website L2Beat reveals that although TVL has since fallen amid a plunge in cryptocurrency values, it is still worth roughly $9.29 billion, more than twice where it was at the beginning of the year.
The global cryptocurrency market cap was trading around $1.15 trillion, decreasing 0.5% in the last 24 hours. However, the total crypto market volume increased by 4% to stand at $36 billion.
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