Crypto Price Today: Bitcoin Regains $19K; BNB, Ethereum, Solana get up to 5%
As Russia escalated its unprovoked invasion of Ukraine and the prospect of a severe global recession rose exponentially, Bitcoin, the largest cryptocurrency by market capitalization, traded above $19,000.
Apart from the US dollar-pegged USD coin, all the top crypto tokens traded sharply higher on Thursday. BNB zoomed more than 5 percent, while Bitcoin, Solana and Ethereum gained 4 percent each. XRP and Polygon were up 3 percent.
The global cryptocurrency market capitalization traded significantly higher at $941.75 billion, jumping as much as 3 percent in the last 24 hours. However, total trading volume fell over 12 percent, close to $82.32 billion.
What is cooking in India
India’s Enforcement Directorate has frozen cryptocurrency worth around Rs 12.8 crore ($1.5 million) as part of a money laundering investigation linked to a gaming app called E-Nuggets, according to a press release. In other news, Jumbish has enlisted galleries and curators to enable non-fungible tokens (NFTs) in physical art forms alongside digital art, thus promoting a Phygital platform in reality.
Expert roofing
This week, the global crypto market capitalization saw rapid changes with key cryptocurrencies including Bitcoin and Ethereum plunging below reserve prices, but only to make corrections as spot volumes increased, said Prashant Kumar, Founder and CEO, weTrade.
“Almost a fortnight after the merger, Ethereum is trading at $1,300,” he added. “The strengthening US dollar, increased rate hikes and calls for broader stablecoin regulations from the US Federal Reserve Chairman are all impacting the market.”
Global updates
AQUA, a Web3 community platform for gamers, has launched its flagship marketplace for trading in-game assets. The startup also announced a $10 million investment from DIGITAL, an investment firm backed by Steve Cohen.
Bitcoin (BTC) recovered from daily lows after the Bank of England (BOE) said it will take steps to address the liquidity crunch in the government bond market.
Solana-based developer Coral has raised $20 million in a strategic funding round led by the venture capital arm of FTX and Jump Crypto. The capital will be used to develop the first flagship product, Backpack.
Technical Analysis of Giotto’s Crypto Platform
Harmony (ONE) is a popular blockchain ecosystem that allows users and developers to create, host and manage DApps using tools packed with features that enable scalability and interoperability.
The platform runs on Ethereum, and positions itself as a solution to Ethereum’s challenges with scalability and costs. Its token – ONE – has been on a roll in 2021, going from $0.0004 to $0.035.
However, the crypto bear market erased some of its gains, as it has traded near $0.02 for much of the last quarter. However, this could be a rally, meaning the token could be ready for a positive move soon.
AgenciesIn September, it corrected from $0.024 to $0.18, creating several Fibonacci levels that become potential resistances that EN can overcome to start another bull run. If bullish sentiment returns to the market, an immediate attempt to overcome resistance at $0.021 (in conjunction with the 50-day moving average) and then $0.024 is possible.
This will result in a change in market structure that should propel ONE to targets of $0.028 and $0.031. If a market structure does not change, ONE could see new lows below $0.18 support in the near term.
Great levels
Support: $0.018, $0.0175
Resistance: $0.021, $0.024, $0.028, $0.031
(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial advisor before taking any position in the asset(s) mentioned.)
