is slowing down. The biggest digital assets have already lost around 5% of their value, including Ethereum, Bitcoin and XRP.The 20% rally XRP has showed us in the last few days did not transform into a full reversal as some market participants expected. Unfortunately, the coin stopped at the local resistance level of $0.4.Coincidentally, the psychological resistance level stayed around the 50-day moving average that acts as a serious barrier for assets that are moving in a sharp downtrend.
The"macro" reason would be the European Central Bank's first rate hike since 2011. The majority of financial analysts were expecting a similar decision from the European regulator, considering the inflation rally that caused the parity of the Euro with the U.S. Dollar, which is something we have not seen for the last 20 years.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Blockchain.com Cuts 25% Workforce Amid Crypto Bear MarketThe crypto trading firm said it would be closing down its Argentina-based offices and halting team expansion plans in several countries.
Source: CoinDesk - 🏆 291. / 63 Read more »
Data reveals users don’t exit the crypto market but rather diversify their portfoliosMuch attention has been paid to the phenomenon of users exiting the cryptocurrency market in the wake of the market... Continue reading
Source: CryptoPanicCom - 🏆 563. / 51 Read more »
'Singapore-based' Crypto Firms Leading Market Meltdown Were Not Regulated, Central Bank Chief Says'In reality, these so-called 'Singapore-based' crypto firms have little to do with crypto-related regulation in Singapore,' MAS_sg Chief Ravi Menon said of why 3AC, Terra_money and VauldOfficial aren't overseen by his agency. By iamsandali MAS_sg terra_money VauldOfficial iamsandali I'm not surprised 😸
Source: CoinDesk - 🏆 291. / 63 Read more »
Crypto Market Hits 1 Trillion in Cap Again with Stablecoin Share Falling; Up Trend?Сrypto market cap reaches $1 trillion again; сonsidering stablecoin share's drop, this may be bullish BTC Bitcoin ETH
Source: Utoday_en - 🏆 295. / 63 Read more »
Crypto exchange Zipmex halts withdrawals due to 'volatile market conditions'Zipmex joins Celsius, CoinFLEX, Vauld and Babel Finance in freezing client funds amid stresses in crypto markets. Zipmex? Lmao what’d you expect Not your keys not your crypto !!!
Source: TheBlock__ - 🏆 464. / 53 Read more »
Crypto Exchange Zipmex Suspends Withdrawals, Citing Market VolatilityThe Zipmex cryptocurrency exchange on Wednesday blocked users from taking direct custody of their coins, citing volatile market conditions godbole17 reports godbole17 Not your keys not your coins godbole17 🤔 godbole17 Another confirmation that you need to use only large and proven exchanges, and you should keep there as little money as possible
Source: CoinDesk - 🏆 291. / 63 Read more »