Let’s get right into the fascinating realm of cryptocurrencies to learn more about what has been going on lately. Prepare yourself for some quick updates on the Fintech and cryptocurrency sectors.
Hold onto your hats because the global market cap for cryptocurrencies is still standing with market cap $1.10T, a 1.82% decrease over the last day.
Now, let’s talk about Bitcoin, the OG of cryptos. It’s been facing a bit of a hurdle trying to surpass the $27,000 mark.Bitcoin continues to trade below $27,000 mark and is traded at $26,200.22.
The next is Ethereum, the biggest altcoin and ETH drops below $1,800 mark and is traded at $1,783.64currently. The descending pattern continues to persist as the global market conditions are worsening every new day.
The other altcoins like ADA, XRP etc., trade sideways, waiting for a major event to push the prices higher.
BTC & ETH Drops as UK CPI Hits after Ages
Bitcoin and other major cryptocurrencies fell due to poor UK performance in broader equity markets. With Bitcoin dropping below $27k during Asia trading and markets reacted to poor UK inflation figures. UK surprises as CPI (Customer Price Index) rose to 6.8% since 1992, surpassing the forecast of 6.2%. UK banks ongoing pressure in an interest rate hike, Bitcoin drops 2% in the past 24 hours, trading below the $27k resistance level and reversing earlier gains. Ether traded around $1,800 while SOL & BNB tokens show a loss.
Solana Labs’ Plugin Unites Blockchain with AI
On Tuesday Solana Labs released the launch of its ChatGPT. The company asserts that their product, which can be obtained via Github — is the initial download of its kind to merge AI with blockchain Technology at the layer 1 level. Solana’s tweet about the roll-out got more than 10k views and retweets. The response reflects increasing concern over AI’s impact on daily life, adding cybersecurity risks to ChatGPT rapid change and transforming it to complex to avoid future risks.
Morgan DF Fintoch Exit scammed $31.6M, Says ZachXBT
ZachXBT tweeted about Morgan DF Fintoch’s (an investment scheme) a possible exit scam. He reported, Morgan DF Fintoch promised a 1% daily ROI, claimed to be owned by Morgan Stanley. They may take 31.6M USDT on BSC (a BNB chain), funds transferred to Tron/Ethereum hindering withdrawals. Fintech’s team page lists “Bobby Lambert” as CEO, he is a paid actor. This is another “Red Flag” for investors. Morgan Stanley stated that Fintoch is using their trade name without permission and they aren’t responsible for any resulting transactions.
Some Crisp News -
Bitfinex Backs Terra Classic Tax Burn Hike to 0.5%
Binance has announced that it will no longer offer trading services for 21 trading pairs
Japan to Enforce Crypto Anti-Money Laundering Measures From June
Bitpanda and Coinbase Join Forces to Bring Cryptocurrency Services to European Banks.