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Crypto Outlook

  

-BTC: $30,327.89

-ETH: $2,097.56

-XRP: $0.52

-LTC: $96.27

The global crypto market cap is $1.27T, a 0.13% increase over the last day.

The total crypto market volume over the last 24 hours is $34.07B, which makes a 37.25% decrease.

BTC: BTC price decreased by 0.30% and significantly increased by 13.35% over 24 hours and in the past seven days. The asset reached a low and high of $30,157.83 and $30,494.25, respectively.

James Zhong, who admitted to wire fraud charges related to illegally acquired Bitcoin from the Silk Road marketplace in 2012, has been sentenced to one year by the United States Attorney’s Office for the Southern District of New York. He was found guilty of a scheme to steal more than 51,680 Bitcoin.

US Attorney Damian Williams has sent a strong message to cyber criminals, warning them that authorities will track the money and hold them accountable, regardless of the complexity and duration of their schemes. Although Zhong managed to conceal his crime for almost a decade, authorities seized his Bitcoin holdings from his home in Georgia in November 2021. Most of the cryptocurrency was found in a floor safe and a computer disguised in a popcorn tin, valued at approximately $3.4 billion at the current rate.

ETH: ETH price increased by 0.30% and 2.14% over 24 hours and in the past seven days. The asset reached a low and high of $2,076.83 and $2,111.08, respectively.

BlockSec, a blockchain security technology firm, has recently launched a new toolkit named Phalcon Fork, which enables collaborative testing on private chains. This toolkit is designed specifically for developers and security researchers, allowing them to fork arbitrary transaction positions and block numbers on the Ethereum mainnet. This feature gives users greater control over testing, analysis, and debugging on testnets.

Compared to traditional solutions like Goerli, Phalcon Fork offers several advantages. The Phalcon Fork user manual states that users can maintain services and states from the Ethereum mainnet, which speeds up integration and debugging with other DeFi contracts. Additionally, users have full control over block information, including Timestamp, BaseFee, and MixDigest.

Snapshots are one of the key features of Phalcon Fork, allowing users to save specific blockchain positions and revert back to them during testing processes. This feature enhances testing flexibility and efficiency.

XRP: XRP price decreased by 0.14% and increased by 2.68% over 24 hours and in the past seven days. The asset reached a low and high of $0.5172 and $0.5258, respectively.

John Deaton, who represents more than 76,000 XRP token holders in the ongoing Ripple lawsuit against the SEC, has consistently argued that large Wall Street banks seek a stake in the cryptocurrency market.

This, he believes, is why regulatory authorities like the SEC are slow in implementing regulations. Recently, Deaton shared a video from 2018 in which US investor Tim Draper expressed to SEC Chair Gary Gensler that banks were panicking about the cryptocurrency market’s growth. In the video, Draper states, “You can hear the bankers panicking right now (2018) and unite to say we are not letting this happen.”

As per Draper, the panic is related to the disruptive potential of crypto, and the existing players in the market would take legal action, apply media pressure, and use government regulators to limit its growth. Deaton believes that this is all about safeguarding incumbents, i.e., banks.

LTC: LTC price increased by 0.43% and 6.26% over 24 hours and in the past seven days. The asset reached a low and high of $95.57 and $97.24, respectively.

On April 10, the Litecoin team revealed a set of significant product updates. As of April 14, the market reacted positively to this announcement, leading to an 8% increase in LTC’s price. Chain data indicates that a surge of accumulation by Litecoin miners and cryptocurrency whales is the primary cause behind the current bullish trend.

In March, a brief selling wave occurred due to increasing expenses, but Litecoin miners have now amassed a considerable portion of block rewards. According to blockchain platform IntoTheBlock, Litecoin miners commenced accumulating reserves from March 28.


Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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