Bitcoin outperformed most altcoins, at around $30,000. However, market experts said Bitcoin is in a danger zone as sentiment for risky assets takes off.
On Wednesday, crypto tokens traded with mixed hints. Tron was up more than 6%, while Bitcoin and BNB gained 3% each. Polkadot, Avalanche and Shiba Inu were among the big losers.
The global cryptocurrency market cap traded higher at $1.29 billion, up more than 2% in the past 24 hours. However, the total cryptocurrency trading volume fell by about 15% to $71.64 billion.
“Somnium Space is developing a ‘live forever’ mode, which will allow you to save your movements and conversations as data,” said WazirX Trade Desk.
“This data would then be removed to an avatar that moves, talks and talks like you. This avatar can then persist and communicate with others long after you die. It could be a step towards immortality,” he added.
Darshan Bathija, co-founder and CEO, said the crypto fear and greed index has hit its second lowest level in the index’s history in the past week.
“The bearish sentiment is likely to continue as long as BTC price levels do not register bullish trends above key price levels,” he added. “Over the past few days, altcoins have underperformed BTC, indicating lower risk appetite among traders.”
South Korean financial authorities are trying to take steps to put more scrutiny on crypto exchanges in the wake of Terra’s collapse, according to a report by the Korea Times.
After the death spiral of UST and LUNA wiped $40 billion off the books, many conference attendees were understandably concerned about where the contagion might spread and who was to blame.
The annual meeting of the World Economic Forum has begun in Davos, Switzerland. Cryptocurrency proponents opened the festivities on Sunday with bitcoin pizza stalls and blockchain pavilions with flashy banners lining the famed boardwalk.
Bitcoin (BTC) posted its eighth straight week of investor losses for the first time in its history amid weak macroeconomic sentiment, inflation concerns, systemic risk within the crypto industry and the lack of immediate catalysts that could boost growth.
Flowcarbon said it has raised $70 million to develop a protocol that will tokenize carbon credits in an effort to encourage investment in projects that remove carbon dioxide from the atmosphere.
Buy Ucoin cryptocurrency exchange
TRON is rallying to reach nearly 100 million accounts. TRON (TRX), the 14th largest cryptocurrency by market capitalization, is one of the few cryptocurrencies to show a strong uptrend in the past week after a long downtrend.
The main reason for the TRX rally is the key data released by TRON DAO that points to a healthy and growing network. TRX posted impressive gains of 5.08% in the last 24 hours and nearly 16.5% a week earlier.
Core data shared by the network showed that the total number of transactions on TRON reached $3.21 billion, while the transaction volume reached $9.2 billion. In addition to the optimism, Fireblocks, a platform for building digital asset companies, has partnered with TRON to support its blockchain.
(The views and recommendations in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in said assets.)