Tuesday, 4 April 2023

Market Summary

Market Summary 4 April 2023

Bitcoin Price: US$ 27,800.00 (-1.32%)
Ethereum Price: US$ 1,810.51 (+0.89%)  

 

After Twitter replaced its blue bird logo with Dogecoin’s Shiba Inu dog logo on its homepage, Dogecoin’s (DOGE) price surged by over 35%, peaking at $0.1046. Additionally, a rumor circulated about the CEO of Binance, Changpeng Zhao, receiving an Interpol Red Notice, which caused a drop in the prices of Binance’s BNB token and Bitcoin (BTC). However, the rumor was based on an encrypted message contained in a tweet that may have been a wild guess and not intended for public eyes.

Circle’s European policy lead, Teana Baker-Taylor, has stated that UK banks are “actively unbanking people, not just companies” due to their decision to buy “crypto assets that are perfectly legal.” Baker-Taylor claimed that the banks’ actions were not in the spirit of consumer protection, adding that it felt very patriarchal. In a separate news, Bitcoin’s correlation with gold tightened in March to around 50%, the strongest connection between the two assets in more than a year, according to blockchain analytics firm Kaiko. The correlation followed a banking crisis in the US that also affected European banks.

According to research conducted by Immunefi, the number of crypto attacks rose 192% year-over-year from 25 to 73 in the past quarter. However, the total amount of money lost fell by 64.4%, which can be attributed to market conditions. The report shows two categories of losses: those resulting from a contract flaw and those caused by human behavior such as a rug pull or fraud. BNB Chain was the most targeted by scams and exploits, with 73.3% of all rug pulls occurring on it. In another report, it was revealed that Saudi Arabia’s sovereign wealth fund has disclosed investments in nearly 40 US venture capital firms, including some with crypto, blockchain and Web3-related investments. Meanwhile, a survey by Brown Brothers Harriman & Co found that 48% of institutions plan to add crypto-related ETFs to their portfolios in 2023, down 6% from last year. However, a quarter of respondents already allocating to such funds said they expect to increase their exposure this year.

 

Source:
https://coindesk.com
https://blockworks.co
https://decrypt.co 

 

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