Ahead of the FOMC meeting on Wednesday, September 21, Bitcoin has come under severe selling pressure. As of press time, Bitcoin is trading 1.56% down at a price of $19,000 levels. Along with Bitcoin, other altcoins have also come under selling pressure.
XRP’s 24-hour performance in the crypto market would have lightened up the mood of its investors. According to CoinMarketCap, XRP had increased 10.11% in the last 24 hours. At press time, XRP was trading at $0.3785, while it gained against both Bitcoin [BTC] and Ethereum [ETH].
Next week, the House Financial Services committee will vote on legislation to regulate stablecoins. As per details, the draft bill proposes a complete two-year ban on algorithmic stablecoins like the TerraUSD.
Jamie Coutts, Crypto Market Analyst for Bloomberg Intelligence argues that “falsehoods” and “fear of the unknown” is what has been holding back traditional portfolio managers from investing in cryptocurrency.
Cryptocurrency trading and wallet app downloads have fallen by 55% year-over-year (YoY) through the third quarter due to sluggish market trends, says a recent Apptopia report.
The chief executive of a recently hacked decentralized finance (DeFi) platform is attempting to negotiate with presumed hackers after a $160 million attack.