As for the rest of the market, Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE) are trading with moderate increases over the last 24 hours.
As for the rest of the market, Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) have seen moderate increases in the last 24 hours.
The market of cryptocurrencies shows its resilience despite recent challenges. Bitcoin (BTC) registers a moderate increase in the last 24 hours and remains above 26,200 DollarsMeanwhile he Ethereum (ETH) is around US$1,620.
The leading cryptocurrency maintains its position, and the others ‘altcoins‘have managed to contain their profits, despite the fact that the Delaware Bankruptcy Court granted permission to FTX to liquidate their holdings of crypto assets, valued at US$3.4 billion. The bankrupt crypto exchange’s plan is to sellr up to 200 million dollars weekly in the market, which initially raised concerns among investors about the possible impact on digital asset prices.
However, the market reaction It has been less drastic than expected. In fact, coins like Solarium (SOL) and the native cryptos of its blockchain have not suffered major falls. SUN It has even seen a 5% increase in the last 24 hours and has maintained relative stability since the initial crash following the announcement of FTX’s intentions.
Bitcoin: the market analyzes the movements
These movements seem to confirm the opinion of some experts who suggest that the initial market reaction could have been exaggerated., especially when it comes to ‘altcoins’. Additionally, some analysts believe that the real selling pressure could be related to bitcoin, possibly due to Mt. Gox selling rather than FTX liquidations.
In any case, a month has passed since BTC suffered a sharp drop below $29,000. Since then, the cryptocurrency leader has oscillated between US$25,000 and the US$26,000 points, with some occasional drops below this range. Investors are awaiting possible approval of exchange-traded funds (ETFs) BlackRock and other companies, which could boost the price.
On the other hand, concerns about inflation They do not seem to give comfort to the leading cryptocurrency. Despite August’s rising reading, the Federal Reserve (Fed) shows no signs of loosening monetary policy, disappointing some analysts who expected a looser stance from the Fed. Fed could be a catalyst for Bitcoin after a series of negative news for the cryptocurrency industry.
As for the rest of the market, Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) have seen moderate increases in the last 24 hours.
Source: Ambito
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