According to the minutes of their last meeting, released Wednesday, US Federal Reserve officials indicated that they would have to raise interest rates by 0.5% at each of the next two meetings. follow.
The global crypto market capitalization is trading lower at $1.26 trillion, down more than 2% in the past 24 hours. However, total crypto trading volume fell 4% to $69.12 billion.
What to cook in India
Tax compliance and crypto portfolio tracking platform CoinTracker on Wednesday announced its foray into the Indian market.
The company’s move also comes amid a government mandate to levy a 30% tax on such transactions effective April 1.
The CoinDCX Research Team Says The Fed’s Recent Openness To Be Aggressive When It Comes To Economic Policies Saw The Stock Market Rise This Morning Though Cryptocurrency Still Lots Of Bands Research CoinDCX said.
“The lack of economic catalysts and prolonged inflation have led many to believe that a recession is imminent, with funds cautious and cautious in deploying more capital,” it added.
Market corrections can’t necessarily be negative – they can also be healthy in re-establishing market valuations and investor expectations for a long-term market move.
Darshan Bathija, Co-Founder and CEO, Vauld, says that US Fed Reserve publish the minutes of their committee meetings; “we can expect a 50 basis point rate probably in the next few meetings.” This step was taken to address inflation concerns.
Bitcoin continues to show little volatility and sideways, he added. “The bullish sentiment on the price impact of the merger is likely to be tempered by broader macroeconomic conditions.”
Federal Reserve Vice President Lael Brainard said that creating an official digital version of the US dollar could help ensure the stability of the financial system as crypto assets and cryptocurrencies Digital currencies developed by other countries are becoming increasingly popular.
Ukraine, ravaged by three months of war, plans to continue attracting crypto investors to help raise funds after plunging prices dented the country’s fundraising efforts in May.
Scott Minerd, chief investment officer at Guggenheim Investments, has not hesitated over the past few years when it comes to bitcoin (BTC) price predictions.
Featured with innovative branding in February, Ignite (formerly Tendermint), the original company behind the Cosmos blockchain ecosystem, announced that it is splitting into two entities: Ignite and NewTendermint.
Snapshot of Terra blockchain is scheduled to take place later this week ahead of the launch of “Terra 2.0,” the so-called revival of the Terra ecosystem following the collapse of the algorithmic stablecoin terraUSD (UST) earlier this month.
Tech View of Giotto Crypto Exchange
Axie Infinity Shards (AXS) is the governance token of the popular Pokemon encounter cryptocurrency game Axie infinity. AXS is an ERC-20 token with which holders can claim rewards for paying games, stake their tokens, and participate in the governance of the platform.
Despite being the top performing cryptocurrency in 2021, it has lost more than 85% of its value since the beginning of 2022. AXS lost a key long-term support trendline at $38 at the end of April. and has lost 46% of its value since then.
The token made several attempts to recover from the fall in May, making several lower highs to eventually move sideways in a narrow range, forming an ascending triangle. On May 23, AXS lost another support trendline at $21.4 and appears to have broken out of a descending triangle formation.
AXS price was rejected at the .238 ($21.5) retracement level yesterday, which is currently acting as a short-term resistance. AXS will have to break above the psychological $23 resistance to arrest the next downside. Conversely, in the event of a continuation of the decline, it will have to test the support at $16.40.
Resistance: $21.5, $24.6, $27.0
Support: $20.0, $16.4
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