Crypto market update
Yesterday came a correction to the cryptocurrency markets, which resulted in around $100 billion wiped off the total capitalization. Bitcoin’s price came crashing towards $44K and most altcoins followed the lead. The correction still continues at press time. PlatonCoin slid only slightly as some investors decided to collect their profits.
Bitcoin (BTC) is now trading at 44,111 USD down by 4,4% in 24h
Ethereum (ETH) is now for 3,274 USD down by 3.9% in 24h
PlatonCoin (PLTC) is now for 0,789 USD down by 1.3% in 24h
Total marketcap is currently at 2.175 trillion USD down by 4.0% in 24h
(all data valid at the time of publishing, from Coingecko.com)
Daily news update
Bitcoin and S&P 500: As the S&P 500 closed out the first quarter down 5.5%, bitcoin (BTC) closely followed, with the world’s largest digital asset tied to the S&P 500 as closely as ever. Bitcoin closed the quarter down 2%, tightening the correlation with the S&P to nearly 0.9 (1 is perfect correlation, -1 is perfectly inverted).
Bored Apes Yacht Club and hackers: The Discord server of Bored Ape Yacht Club — the largest NFT collection by market cap — was compromised today, the team confirmed in a Twitter post. An unknown hacker gained access to the official Discord meant to host members of Bored Ape Yacht Club, Mutant Ape Yacht Club and Mutant Ape Kennel Club, three NFT collections from Yuga Labs.
Japan and crypto regulations: Authorities in Japan are planning to introduce tougher new rules for crypto operators as part of efforts to prevent Russia from using cryptocurrencies to evade sanctions. The legislative initiative comes after Tokyo asked digital asset exchanges to strengthen transactions monitoring this month.
U.S. Senate and CBDC: U.S. Sen. Elizabeth Warren says it’s time for the U.S. to create its own central bank digital currency (CBDC). Warren spoke with NBC’s Chuck Todd on “Meet the Press Reports.” Warren in March announced a new bill to block cryptocurrency companies from conducting business with sanctioned companies. The Digital Assets Sanctions Compliance Enhancement Act would allow the U.S. president to add non-U.S.-based crypto companies to sanctions list if they support sanctions evasion.
China and digital yuan: Residents in five more Chinese cities were able to access digital yuan wallets starting Thursday, marking a major development for central bank digital currency (CBDC) in China.