The global crypto market capitalisation was down by 2.17 per cent to $1.28 trillion in the last 24 hours. The total crypto market volume over the last 24 hours is $48.62 billion, down by 14.85 per cent.
Square, one of the world’s biggest fintech companies, with a market capitalisation of $107 billion, wants to build a Bitcoin hardware wallet to make Bitcoin custody mainstream.
Jack Dorsey, CEO of Square, announced on Twitter that the wallet would be built entirely in the open, from software to hardware design, and in collaboration with the community.
Pakistan has seen a boom in trading and mining cryptocurrency. According to a Reuters report, thousands of Pakistanis are eager to learn how to mine and trade cryptocurrency.
“We are slowly moving into a consolidation after an intense selloff the past week. We usually witness an indecisive day across the markets after an intensely volatile week. The next 24 hours from now would be crucial,” said said Edul Patel, CEO and Co-founder, Mudrex “Once the market breaches either levels, the momentum is bound to shape up.”
The stand taken by the Enforcement Directorate (ED) on cryptocurrencies can unsettle crypto trading and all bourses in India.
Tech View by Siddharth Menon, COO, WazirX
Bitcoin
Bitcoin price is trading in a rectangle pattern, Break out above $41330 may lead to buying momentum and breach of $28805 may show the selling pressure. The RSI is still trading below the trendline which indicates the buying momentum is lacking.
Ethereum
Ether is trading above the multi week trendline, Support of $1711 looks strong but if breached Eth may see further sell pressure, Weakness in Ether should impact the Alt coins. And if the resistance of $2410 is broken, we may see buying momentum in Eth and uptick in the Alt cycle.
Time is in UTC and the daily time frame is 12:00 AM – 12: 00 PM UTC
(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)