Cryptocurrency prices Bitcoin and Ethereum are up and Shiba Inu is down.
Cryptocurrency prices Bitcoin and Ethereum are up and Shiba Inu is down. The cryptocurrency market was trading with minor gains on Wednesday, ahead of US President Joe Biden’s much-anticipated executive order.
Investors were anticipating Biden’s long-awaited crypto executive order, which will outline the country’s approach to regulation.
The conflict between Russia and Ukraine kept the upside in check.
Cryptocurrency prices Bitcoin and Ethereum are up and Shiba Inu is down.,
With the exception of meme coin Shiba Inu, all of the top digital tokens were trading higher.
Terra increased by 14 percent, followed by Ethereum, which increased by 3 percent. Bitcoin increased by 2%.
The global cryptocurrency market cap has risen to $1.77 trillion, up nearly 3% in the last 24 hours.
The total volume of cryptocurrency trading fell by more than 8% to $78.95 billion.
“In the cryptocurrency space, industry regulation frequently divides the community,” WazirX Trade Desk explained.
“Biden’s order will also be a significant step toward regulating the cryptocurrency space.”
The pro-regulation side claims that it will increase investor protection, reduce money laundering and tax evasion, and attract money from conservative investors.
Cryptocurrency prices Bitcoin and Ethereum are up and Shiba Inu is down.,
The anti-regulation group claims that regulation goes against the spirit of cryptocurrency.
that the government may make bad decisions due to a lack of knowledge in the space, stifling innovation.
“After cryptocurrency was mentioned as a potential tool to circumvent sanctions on the Russian government and oligarchs,
the US government mentioned that president Joe Biden will sign the executive order on cryptocurrency in the coming few days,” it added.
Authorities in the United States have filed criminal charges against a cryptocurrency executive as well as civil charges against him and his sister,
accusing them of defrauding retail investors out of millions of dollars using a digital token known as Ormeus Coin.
Thailand is relaxing tax rules for cryptocurrency trading until the end of 2023 in order to boost the industry,
according to the country’s finance minister, who spoke at a cabinet meeting on Tuesday.
Bain Capital, an investment firm with approximately $155 billion in assets under management,
announced the launch of a $560 million fund dedicated solely to the crypto ecosystem.
The Avalanche Foundation announced a major push to entice top projects with a cache of 4 million AVAX tokens worth approximately $290 million.
The XRP Relative Strength Index indicates a lack of confidence, resulting in a small intraday increase of 1-5 percent. Gains are expected to rise by $0.75 to $0.76 per share.
Price movement is being pushed up against a $0.76 or $0.78 ceiling, indicating a bullish squeeze. If the price breaks above $0.78, it could see a very quick punch-through move towards $0.84.
Expect a return to $0.70, with bears increasing their short positions depending on the strength of the current market movement.
The bears will try to catch the bulls in a trap and squeeze them out as far as they can with that move, so a drop to $0.65 or $0.62 is not out of the question.
Cryptocurrency prices Bitcoin and Ethereum are up and Shiba Inu is down.,
Bitcoin surpassed $40,000 on Monday, following yet another weekend of price swings triggered by tweets from Tesla CEO Elon Musk,
who defended his market influence and stated that Tesla sold bitcoin but may resume transactions using it.
Since Tesla announced a $1.5 billion bitcoin purchase in February and stated that it
would accept the cryptocurrency as payment, bitcoin has fluctuated in response to Musk’s views for months.
He later stated that the electric car manufacturer would not accept bitcoin due to concerns about how mining the currency consumes a lot of energy and contributes to climate change.
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