Crypto Market Analysis | 08 May 2024

Crypto Market Analysis

Markets were lower for the second day after BTC failed to cross the $65k mark a couple of days back. The next immediate line of support for BTC stays around the $62k mark, which, if breached, could take the price back to the recent low of $57k.

In positive news, Ethereum L2 Arbitrum achieved a significant feat with the total traded volume on Uniswap hitting $150 billion, making it the only layer 2 to do so. Arbitrum also has the largest TVL among all L2 solutions.

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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