Crypto

Crypto Market Analysis

Crypto Market Analysis | 9 July 2024  

Crypto Market Analysis

With Bitcoin trading below the critical resistance level at $58.4k, bears are looking to strengthen their grip even as the German government has already sold more than 50% of its originally held 50,000 BTC as per the data from Arkham Intelligence. ETH is just able to sustain above $3,000 even as the ETF trading of the world’s second-largest crypto is expected to begin shortly.

In a significant development, asset manager BlackRock’s BUIDL token, backed by US Treasuries, surpassed half a billion dollars in AUM—showing the need for real-world asset tokenization on blockchain. It took only four months for this product to achieve the feat.

The biggest gainer of the day remained NOT, as Telegram’s tap-to-earn gaming token pumped more than 50% in the last couple of days, becoming the highest gainer in the top 100 category.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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