By Alicia Maher
Discover an overview of recent changes in the crypto market today.
Bitcoin Price
The 24-hour chart reveals that the Bitcoin price peaked at $40,600. It is the first time it has reached this price range in eight weeks. Unfortunately, it couldn’t maintain that price and declined to about $37,239 after the close of trades yesterday after creating a long upper wick.
The good news is that technical signals indicate bullishness. The moving average convergence divergence (MACD) is rising and is almost moving into the positive region. Also, the relative strength index (RSI) is over 50, while the stochastic oscillator shows a bullish cross.
Market Cap and Altcoins’ Movement
After rising to about $1.58 trillion yesterday, the market cap declined by 4% today and now hovers around the $1.53 trillion range. While most altcoins still maintain double-figure increments for the week, most of them retracted slightly after yesterday’s rise.
After gaining 14%, Swissborg (CHSB) is the highest gainer of the past 24 hours and is back among the top 100 cryptocurrencies based on market cap. Thus, CHSB has now gained almost 41% this past week.
Internet Computer (ICP) was the biggest loser after declining by about 14% in the period under review. ICP price is now below $39. It is remarkable to note that ICP has lost almost 90% of its value after being listed for around $500 two months ago.
Crypto News All Over The World
Shopify sellers can now sell NFTs on the platform. Shopify president, Harley Finkelstein, revealed this news via a Twitter thread, and the first NFT has been launched already. This NFT is the legacy collection of the basketball team, the Chicago Bulls. With more than 1.7 million sellers globally, Shopify’s target audience is huge. While Shopify has incorporated crypto transactions via a third party (CoinPayments) since May last year, this is the first time it is allowing a direct crypto transaction through NFT between buyers and sellers on the platform.
The Binance Smart Chain increases security protocol on the platform
The Binance Smart Chain is launching a $10 million bug bounty initiative to enhance security on its platform. Thus, projects on the network are secured from hackers who have been attacking various projects on the network recently. Out of the 100 projects on the platform, the initial phase of this initiative will focus on 30 projects and will be kicked off with a $3 million kitty. However, bug hunters need to realize that report will be reviewed by a combined team of Binance security, Immunefi, Certik, and Peckshield. Projects can also contribute to the bounty pool with $100,000.
Lyra wants to start layer-2 options trading on Ethereum. DeFi protocol, Lyra, has revealed that funds from its latest funding round will be used to deploy the protocol on Ethereum’s optimism layer-2 scaling platform. Lyra raised about $3.4 million from this funding round which was supported by top DeFi-related venture capital companies like Parafi capital and framework ventures. Hence, Lyra becomes the first project for active risk management and automated trading on Synthetix.