Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
Digital coins are mixed
On Monday, major digital coins were generally intact, with minor price movements in both directions.
Eventually, Bitcoin managed to surge by 0.19% concluding the trading session at $3,930.3. The number one crypto asset is definitely braced for testing the $4,000 mark having recovered from a tumble to $3,700 the previous week.
Additionally, XRP surged by 0.10% reaching $0.31367.
As for Ethereum, the number two crypto asset decreased by 0.53% coming up with an outcome of $136.07. Litecoin dipped by 0.23% being worth 57.089, becoming the top crypto performer for the last seven days, with its 20.71% leap.
The crypto market capitalization kept soaring, surging to $135 billion, adding nearly $4 billion from the beginning of March.
Market participants noted that a crypto arm for financial services giant Fidelity, Fidelity Digital Asset Services went live. Undoubtedly, it has become the most crucial news in the crypto world on Monday.
Some financial analysts ascertain that institutional interest in digital coins was still high notwithstanding the bearish crypto market.
In addition to this, Mercado Bitcoin, a Brazil-based crypto exchange managed to win a case versus Banco Santander that was ordered by a Brazilian court to have up to $350,000 returned to the crypto exchange.
The financial institution had the crypto exchange’s account closed and also froze its funds, telling that its activities were violating its policies. However, the judge who oversaw the proceedings told even although crypto trading appears to be a risky undertaking, Brazil’s major bank hasn’t prohibited the buying and selling of crypto assets within the country’s borders.
As the ruling states, the bank needs to return the funds in addition to interest of 1% a month. Moreover, it should also deal with the legal expenses of the crypto exchange as well as legal fees amounting to 10% of the conviction’s value.
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.