Major coins traded in the red on Monday amid growing concern from investors closely watching the price Federal Committee of the Free Market (FOMC) meeting scheduled for next week.
| cryptocurrency | Profits (+/-) | Price (Recorded at 9:30pm EST) |
| Bitcoin BTC/USD | -1.06% | $27,460 |
| ether ETH/USD | -1.70% | $1,840 |
| Dogecoins DOGE/USD | -1.12% | $0.078 |
What happened: In the light of Shanghai upgrade for the ether In the log, we’ve seen an influx of stakers reinvesting their rewards, resulting in record-breaking inflows. However, despite this surge in activity, ETH’s position has remained relatively unchanged. According to the latest data dashboard from Dune Analytics, investors have deposited 571,950 ETH tokens into staking contracts, worth $1 billion.
At the time of writing, the global crypto market cap was $1.16 trillion, down 1.35% from the last day.
See more: Best Crypto Day Trading Strategies
The US stock market saw a mixed reaction on Monday as traders waited for earnings reports from several big tech companies and consumer discretionary names, as well as the release of new economic data. Especially the Nasdaq Composite, known for its heavy focus on technology stocks, was modestly down 0.29% during the regular session. In contrast, the S&P 500 improved slightly, up 0.09%.
News Highlights: coin base COIN has taken legal action by filing a petition in a US federal court. The goal of this petition is to enforce it Securities and Exchange Commission (SEC) to provide a definitive response to Coinbase’s call for improved regulatory guidance in the sector. Notably, the exchange’s July 2022 petition contained 50 precise requests regarding the regulatory treatment of certain digital assets. The exchange is determined to get a simple “yes or no” answer from the SEC.
Analyst Notes: “Bitcoin Remains Heavy Until Investors Clarify US Regulatory Path to…
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