Oluwapelumi Adejumo · 2 hours ago · 3 min read The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.3 min read Updated: April 27, 2023 at 12:38 pm Cover art/illustration via CryptoSlate In the last 24 hours, the cryptocurrency market cap saw net outflows of $10 billion and currently stands at $1.20 trillion — down 0.96% from $1.21 trillion.Bitcoin’s market cap rose 0.43 % to $563.18 billion during the period, while Ethereum’s market cap fell 1.24% to $227.40 billion.The top 10 cryptocurrencies saw mixed performance during the reporting period.The biggest gainers were Cardano and Bitcoin, which posted meager gains of less than 0.5%, respectively.Others like Dogecoin, BNB, Solana, Polkadot, Litecoin, and XRP lost more than 2%, respectively.
The market cap of Tether (USDT) and USD Coin (USDC) slightly grew to $81.61 billion and $30.73 billion, respectively.In contrast, Binance USD (BUSD) fell to $6.30 billion.Bitcoin In the last 24 hours, Bitcoin increased 0.1% to trade at $29,008 as of 07:00 ET.Its market dominance grew to 47% from 46.6%.During the reporting period, Bitcoin’s volatility wiped off over $300 million after rumors emerged that the U.S.government and bankrupt crypto exchange Mt.Gox were selling the asset.
CryptoSlate Insight reported that the wild price swings were due to an illiquid market.Ethereum Over the last 24 hours, Ethereum declined 1.52% to trade at $1,886 as of 07:00 ET.Its market dominance fell to 19.0% from 19.1%.The wild market performance saw ETH trade near $2,000 before bottoming at $1,792.
Top 5 Gainers RSK Infrastructure Framework RIF is the day’s biggest gainer, growing 12.64% over the last 24 hours to $0.13968 as of press time.The filesharing token is down 10% in the previous 30 days.Its market cap stood at $134.1 million.MultiversX EGLD grew 11.73% over the last 24 hours to $45.4320 as of press time.The Binance Chain-based token has risen over 13% in the previous seven days.Its market cap stood at $1.15 billion.inSure SURE gained 10.73% to trade at $0.00626 at the time of writing.Despite today’s upside, the blockchain network has been down 21% in the past month.
Its market cap stood at $167.61 million.Kaspa KAS rose 9.64% to $0.03001 over the last 24 hours.The token has increased by nearly 10% in the previous 30 days.Its market cap stood at $545.47 million.
Injective INJ is on the top gainer’s list for the second consecutive day.The token is up 8.7% to $8.15165 as of press time.
Its market cap stood at $713.13 million.Top 5 Losers tomiNET TOMI is the day’s biggest loser, falling 17.66% to trade at $2.98535 at the time of writing.The privacy token is up more than 30% in the last 30 days.Its market cap stood at $118.35 million.Hex HEX declined 6.71% to $0.00589 over the reporting period.Its market cap stood at $9.89 billion.
ssv.network SSV plunged 6.49% to trade at $0.23853 as of press time.The token has risen by more than 100% in the previous year.Its market cap stood at $264.43 million.Solar SXP decreased 6.15% to $0.57118 over the reporting period.Its market cap stood at $321.3 million.Threshold T dropped 5.81% to trade at $0.03166.
The Ethereum-based token is down 22% over the last 30 days.Its market cap stood at $272.98 million.
Leave a Reply [Cancel reply](/bitcoin/cryptoslate-wmarket-update-market-volatility-swings-bitcoin-price-wildly-in-the-last-24-hours/#respond) Leave a Reply Allegations Seoul Prosecutors Believe Terra Co-Founder Do Kwon Still In Possession Of $100 Million Held In Swiss Bank Account In the wake of the recent legal action against ten associates of Terraform Labs, which included the co-founder Shin Hyun-seong, known to many as Daniel Shin, it appears that prosecutors from Seoul are convinced that Terraform Labs and co-founder Do Kwon are still in possession of a considerable sum of money, specifically 130 billion won ($100 million), held in a Swiss bank account.South Korean Prosecutors Claim Do Kwon and Terraform Labs Still Own $100 Million Tucked Away in a Swiss Bank Account, SEC Complaint Backs Theory As reported by Park Beom-soo, a local journalist, following the Terraform Labs indictment, Do Kwon and his associates allegedly transferred 10,000 bitcoin (BTC) to a fintech bank headquartered in Switzerland.Sygnum Bank, a digital asset financial institution based in Zurich, was reportedly the recipient of this sizable transfer.It has since come to light that the Seoul Southern District Prosecutor’s Office has been closely monitoring the movement of Terra-linked bitcoin and has revealed this information during a press conference held to discuss the recent indictment.
The prosecutor’s office’s spokesperson stated, “We are actively tracking the bitcoin owned by LFG (Luna Foundation Guard), but some of it has been converted into cash and deposited into the Signum account.As outlined in the SEC complaint, the amount transferred is approximately 100 million dollars (about 130 billion won).” It would appear that the investigation into Terraform Labs and Do Kwon’s financial dealings is ongoing, and further details may come to light concerning this matter.Onchain Researcher: LFG ‘Failed to Account for the Trail of Bread Crumbs Left by the Change Outputs’ Just before Terra collapsed, Terra’s Luna Foundation Guard (LFG), an organization created to defend the blockchain stablecoin UST’s dollar peg, accumulated a massive amount of bitcoin.The funds were meant to protect UST from dropping below the $1 parity but the fallout was so bad, LFG and Terra’s leaders like Do Kwon could not save it.After the collapse, it was speculated that LFG did not use all the funds to defend the stablecoin, and LFG fired back by releasing an audit that claimed the group used more than 80,000 BTC to defend the coin’s peg.However, OXT researcher Ergo BTC discovered that the blockchain “tells a different story” in a Twitter thread from October 2022.
Ergo said that while LFG may have declared ownership of a single wallet holding 313 BTC, their actions have left a breadcrumb trail of evidence that could be easily followed.Ergo discovered a group of fifteen significant Binance withdrawals made to a single address.
The coins were then consolidated and used in a series of transactions spanning several months.Shortly after the first withdrawal from Binance, 665 BTC were spent on Kucoin, and on May 16, the remaining 313 BTC were transferred to the new LFG address, providing evidence of their association.Ergo further said that the sequence of transactions continued for many months and “unfortunately for the LFG, these (reused addresses) were active prior the depeg event, providing additional clues for investigators.” The researcher further added that while the LFG may argue that the pseudonymity of BTC provides them with a veil of anonymity, it is clear that the activity the researcher observed is “directly related to the funding of the LFG treasury.” Park Beom-soo’s report further confirmed to Ergo that the onchain activity the OXT researcher monitored aligns more closely with the Seoul prosecutor’s report than the story told by Do Kwon and the LFG audit.Tags in this story Allegations, Bitcoin, Cryptocurrency, do kwon, Investigation, legal action, luna foundation guard, prosecutor, Seoul, Stablecoin, Swiss bank account, terraform labs What are your thoughts on the ongoing investigation into Terraform Labs and the allegations that the company and co-founder Do Kwon are still in possession of a substantial sum of money? Do you believe that the findings from the U.S.SEC and the Seoul Southern District Prosecutor’s Office align? Share your thoughts about this subject in the comments section below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.
Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.
Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Bitcoin price saw a couple of wild moves above the $28,500 pivot level.
BTC is now rising and showing positive signs above the $28,800 level.- Bitcoin climbed sharply and then nosedived to revisit the $27,250 support.
– The price is trading above $28,000 and the 100 hourly Simple moving average.- There is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).- The pair could continue to rise if it clears the $29,400 and $29,500 resistance levels.
Bitcoin Price Regains Traction Bitcoin price started a major increase from the $27,000 support zone.
BTC climbed over $2,000 and broke the $29,250 resistance zone.It even tested the $30,000 resistance before the bears appeared.
There was a sharp decline from the $30,037 high.Bitcoin dived over $2,000 and retested the $27,250 support where the bulls emerged.
The price is now rising and trading above $28,000.It is also above $28,200 and the 100 hourly Simple moving average.Besides, there is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC/USD pair.The bulls pushed the price above the 50% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low.
Immediate resistance is near the $29,400 level.Source: BTCUSD on TradingView.com The 76.4% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low is also near the $29,400 zone.The next major resistance sits near the $29,500 zone.A close above the $29,500 resistance could send Bitcoin toward $30,000.Any more gains could open the doors for a test of the key barrier at $31,000.Fresh Decline in BTC? If Bitcoin’s price fails to clear the $29,400 resistance, it could again start a fresh decline.
Immediate support on the downside is near the $28,650 level.The next major support is near the $28,000 zone or the trend line.A downside break and close below the $28,000 support might push the price toward the $27,500 support.Any more losses might take Bitcoin toward $27,250.Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $28,650, followed by $28,000.Major Resistance Levels – $29,400, $29,500, and $30,000.Aayush Jindal Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist.He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer.
He also founded an IT company and works rigorously in providing high-quality software services.Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets.Follow him on Twitter @AayushJs.134986 txs Bitcoin Mempool Overwhelmed With 134,000 Unconfirmed Transactions Amid Price Volatility Amidst the buzz surrounding bitcoin’s latest price surge, a significant number of transactions are currently clogging up the mempool.As of writing, 134,986 unconfirmed transactions await confirmation, and block times are lingering above the usual ten-minute mark.
Bitcoin Transactions Backlogged as Mempool Reaches Higher Levels On the morning of Wednesday, Bitcoin.com News brought to light the decrease in Bitcoin’s global hashrate over the past 24 hours, currently hovering just above the 300 exahash per second (EH/s) range.Meanwhile, block intervals have slowed down and surpassed the average ten-minute mark, with the most recent block taking a total of ten minutes and 50 seconds to be validated.Even though bitcoin’s price initially soared past the $30K mark earlier today, by 4:00 p.m.Eastern Time (ET) on April 26, 2023, the value had regressed back to a low of $27,242.Since then, the price managed to jump back above the $28K zone.
At present, the mempool remains packed with transactions, awaiting their turn to be confirmed.In essence, the Bitcoin network’s mempool acts as a repository of unconfirmed transactions that must be incorporated in the next block of the blockchain.
Every transaction in the mempool comes with its own unique transaction ID, fee, and other pertinent information.Since miners prioritize transactions that offer higher fees, users tend to compete by offering increased fees to expedite the confirmation of their transactions.At 4:30 p.m.
ET on Wednesday, data obtained from the web portal mempool.space reports 134,986 unconfirmed transactions.
Meanwhile, transaction fees vary, with a no-priority transaction costing a 2 sat/vB or $0.08 per transaction, a low-priority transaction setting users back 29 sat/vB or $1.15 per transfer, and a high-priority transaction currently priced at 35 sat/vB or $1.38 per transfer.Bitinfocharts.com supplies additional data indicating that the average fee for transactions today is 0.000072 BTC or $1.99 per transaction.The same website also reveals a median-sized fee of 0.000035 BTC or $0.97 per transaction.Tags in this story 134986 txs, Bitcoin, Bitinfocharts.com, block times, Blockchain, Cryptocurrency, Fees, market, Mempool, mining, Network Congestion, price surge, transaction prioritization, Unconfirmed Transactions What do you think could be the reason for the sudden surge in bitcoin transactions? Share your thoughts about this subject in the comments section below.
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.
It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.
Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Top posts European Union5 mins ago EU banking regulator suggests the following to reduce risk in crypto sector The European Banking Authority Chair emphasized the diversification of stablecoin reserves for robust risk management.He also stated that while…altcoin35 mins ago Solana enters the AI space, but how has SOL reacted to the news The Solana Foundation announced a $1 million fund for AI and launched a ChatGPT plugin.SOL’s development activity increased while…
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