Thursday, Oct 06, 2022
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After Huge Fall Last Week, Bitcoin, Ethereum, Cardano, Shiba Inu Recover Slightly

Bitcoin is up by 1.15%, Ethereum is up by 1.53%, Cardano is up by 1.63% while Shiba Inu is up by 2.16% as of 8.42 am, as per coinmarketcap data.

ETHEREUM
ETHEREUM

The global crypto market cap has managed to recover slightly over the last 24 hours amid rising volatility. It was up by 1.36 per cent at $1.63 trillion at 8.42 am. The crypto trading volume, however, fell by 35.61 per cent at $83.9 billion, showed Coinmarketcap data.

The Joe Biden administration may release an executive order on cryptocurrencies as early as next month, reported Bloomberg. The said report also outlined that the US government’s strategy initially would be to ask various federal agencies to outline the risks and opportunities associated with cryptocurrencies. Until now, the US had no official stance on crypto despite pressure from industry stakeholders and its citizens. Hopefully, this executive order may put the US in a lead role for regulation of cryptocurrencies, said the same report.

Prices of the world’s oldest cryptocurrency, Bitcoin (BTC), are up by 1.15 per cent at $35,337.27.

“Bitcoin went below $34,400 but made a small comeback, trading about $36,000 over the weekend. Investors remain hesitant and the trading volume across exchanges is currently low. The crypto market and its correlation with speculative markets were prominently witnessed over the weekend,” says Gaurav Dahake, CEO and founder, Bitbns.

The price of Ethereum (ETH) has been trading with gains of 1.53 per cent at $2,441.86.

Among other major coins, Cardano (ADA) was up by 1.63 per cent at $1.08. Algorand (ALGO), which is known as the Ethereum killer, is down by 0.25 per cent at $0.9463; its market cap is now at $6,169,591,764. Binance Coin (BNB) is up by 2.56 per cent at $372.32, while Solana (SOL) is down by 2.24 per cent at $91.94 and Polkadot (DOT) fell 2.07 per cent to $17.81.

Today’s top gainer was Obsidium (OBS), which is up by 2686.42 per cent at $0.5794. The top loser was AutoMatic Network (AUMI), which is down by 99.81 per cent at $0.003263.

Meme Coins And DeFi

Dogecoin (DOGE) is up by 2.9 per cent at $0.1393. Its volume to market cap ratio stands at 0.04845. Rival Shiba Inu (SHIB) is also up by 2.16 per cent at $0.00002203.

Dogelon Mars (ELON) is trading with a massive gain of 18.84 per cent at $0.0000008223. Floki Inu (FLOKI), however, crashed by 9.71 per cent at $0.00003763, while Samoyed Coin (SAMO) is also down by 5.13 per cent at $0.01352.

In the DeFi segment, YFI (yearn.finance) was trading with a gain of 4.83 per cent at $24,293.59. Terra (LUNA) is up by 2.97 per cent at $66.30, Avalanche (AVAX) is up by 3.4 per cent at $61.70, Uniswap (UNI) is down by 2.25 per cent at $10.83, while Aave (AAVE) is up by 2.79 per cent at $150.87.

Current Updates

Opera, the Norwegian internet browser service provider has announced a new project called ‘Crypto Browser Project’. In a separate blog post, Opera has explained how this project is going to help crypto users and various stakeholders and how Opera is going to help developers make web3 more mainstream than now. An excerpt from their blog read, “It’s specifically designed to work with a variety of decentralized apps as well as provide deeper functionality than a traditional browser that has a basic web wallet add-on.”

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