Bitcoin fell in early Tuesday trading in Asia, dropping to $28,000 before breaking below its support line late in the morning.Ether and other top 10 non-stablecoin cryptocurrencies fell, with Polkadot and Solana leading the losers.The three major US stock futures indices fell after the month started with another bank failure in the US.Overnight cryptocurrency trading volumes increased, but stock trading was thin ahead of his Fed interest rate decision on Wednesday and more data on the state of the US.US economy coming later this week.
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Crypto
Bitcoin fell 4.1% in Hong Kong to $28,058 in the 24 hours to 8am, according to data from CoinMarketCap.With this drop, the world’s largest cryptocurrency recorded a modest rise of 1.97% in his seven days.uncertainty about
US banking system Whether more failures will follow remains to be seen, even though most investors are wary of cryptocurrencies and other assets.Recent predictions Big price increase for bitcoin this year.
Ether fell 2.16% to $1,830, down 0.6% this week.The token’s price is now back to the value seen in early April, giving up most of the profits associated with the Shanghai hard fork on April 12th when it was released.
billions of dollars In Ether drawn from the staking pool.
Solana fell 3.45% to $21.97.This could be a profit-taking after the recent buzz surrounding the debut of blockchain’s first smartphone, Saga, scheduled for May 4th.
Tokens are up 2.7% for her again this week.Polkadot fell 3.73% of her to $5.67 for him and 3.81% to her in 7 days.
Cryptocurrency market cap fell 3.21% to $1.16 trillion over the past 24 hours, while trading volume increased 28.9% to $40.97 billion.
NFTs
The Index is a proxy measure of the performance of the global NFT market.they are managed by
crypto slamis a sister company of Forkast.News, which is part of Forkast.Labs.
In the non-fungible token (NFT) market, the Forkast 500 NFT Index fell 0.86% to 3,717.16 in the 24 hours to 8am in Hong Kong, down 1.16% in a week.
While the index is falling, the development of the overall NFT market is picking up pace.Sotheby’s, a leading art auction house,
reportedly It has processed approximately $120 million in NFT sales and currently offers peer-to-peer trading of NFT art between collectors on its platform via the Ethereum and Polygon networks.
Blur is currently the largest NFT marketplace by trading volume,
Said On Monday, we will launch a peer-to-peer NFT lending protocol called “Blend”.This will allow the user to provide collateral to purchase her NFTs.According to its developers, the service uses the same principle as mortgages to buy homes, bringing more cash and users to the market.
stock
US stock futures fell at 8am in Hong Kong, giving direction to the market when Wall Street opened later on Tuesday.Dow Jones Industrial Average futures fell 0.11% and the S&P 500 futures index fell 0.14%.
Nasdaq 100 futures fell 0.15%.
All three indices closed lower in Monday’s regular trading, but were overshadowed by the First Republic Bank collapse over the weekend, marking the fourth time in the US this year after Silvergate, Silicon Valley and Signature Bank.became bankrupt.
US regulators took control of First Republic after reporting that about US$100 billion, or more than 40% of its deposits, had been withdrawn in April, sending its stock price plummeting.
JP Morgan won a bid to buy the bank’s remaining assets, the Wall Street investment bank said.
press release on monday.
Amid dark clouds in the industry, Morgan Stanley said Monday it will cut another 3,000 jobs in the second quarter.
ReutersTreasury Secretary Janet Yellen warned on monday If Congress does not raise the debt ceiling, the US government could default by June 1st.
Other indicators of U.S.economic and corporate health to be released this week include Thursday’s earnings for Apple, the world’s largest company by market capitalization, and Friday’s April jobs numbers.
Before that, though, the focus is on the Fed’s next rate move, scheduled for May 3.The Fed has hiked rates repeatedly over the past year to bring inflation down to its 2% target range.I went.
With U.S.
inflation still hovering around 5%, CME Group analysts now see an 85.5% chance that the Fed will raise rates by 25 basis points this week, which is the market’s best guess.heavily woven.Interest rates in the world’s largest economy are now between 4.75% and 5%, the highest since June 2006.
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