Hold on to your hats, crypto fans! It's time for your daily dose of Coinpedia crypto news.
Crypto market is on fire! The global market cap skyrocketed to a whopping $1.23 trillion, and guess what? Bitcoin (BTC) is back in action! BTC managed to break through the $30,000 mark for the first time since June last year, and it's causing quite a stir in the crypto community.
But that's not all! The bull run is spreading its magic to other top altcoins like Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC), as they all managed to land in the greens across the board. It's an exciting time for crypto traders and investors alike!
But wait, there's more! The real showstopper is Render Token (RNDR), which emerged as the biggest gainer with an impressive 24-hour jump of over 17 percent! RNDR is definitely making waves and catching the attention of savvy investors.
And with the recent collapse of Silicon Valley Bank and other crypto-friendly institutions fading into the distance, investor confidence is soaring in the crypto sector. It's a thrilling time to be in the crypto market, with bullish momentum and exciting gains.
So, buckle up and stay tuned for more updates as the crypto market continues to rock and roll! We'll keep you posted on all the latest happenings in the crypto world. Happy trading!
Bitcoin (BTC) surges over 80% in value in 2023, surpassing $30,000 for the first time since June 2022.
Market optimism grows as concerns about banking turbulence ease and investors anticipate potential monetary policy loosening by the U.S. Federal Reserve.
BTC's current price at $30,237 reflects a 6.75% increase in the last 24 hours.
Market analysts predict a slowdown in economic growth and bond market behavior as factors contributing to BTC's rally.
Ethereum (ETH) witnesses unrealized losses on Beacon Chain at around $5 billion, potentially reducing selling pressure.
Scheduled for an upgrade in Shanghai on April 12, allowing withdrawal of all staked ETH since Beacon Chain launch.
On-chain data from Glassnode shows mixed behavior among Ethereum depositors, with recurring depositors dominating the staking pool but one-time depositors surging during major events like the Shanghai upgrade.
Some analysts predict that not all validators will withdraw all their ETH, mitigating selling pressure after the upgrade.
Vishal Gupta, senior director of product management at Coinbase, leaves the company after a year and a half, as reported by Jinse Finance.
Gupta, who previously worked at Goldman Sachs, departs from Coinbase to work on a new project, with details undisclosed.
Gupta's departure marks a notable change in leadership within Coinbase's product management team.
The industry closely watches for potential impacts on Coinbase's product strategy and direction.
SHIB's consolidation continues with minimal trading activity and low volatility.
Futures open interest on SHIB rises, indicating active positions in derivatives contracts.
Minimal liquidation despite high open interest suggests a lack of significant price swings.
Bears may be lurking as SHIB price remains sideways, with indicators suggesting a potential shift towards the bearish side. Traders keep a close eye on SHIB's movement in a low-volatility market.
XRPL (XRP) offers liquidity and auto bridging, automatically connecting order books on the ledger using XRP as a middleman, reducing costs and adding liquidity to the XRP token.
XRPL and XRP have a stake as an Automated Market Maker (AMM), improving token liquidity and trading.
XRPL's strong liquidity leads to increased DEX volume and higher token value.
XRPL provides unique functionalities that other technologies may not have, making it challenging for users of those technologies to migrate to XRP, showcasing its unique advantages.
That’s it for Today’s Coinpedia! Stay tuned for more updates, and let’s see where the market takes us next.
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