Crypto Outlook

-BTC: $27,343.52

-ETH: $1,839.91

-XRP: $0.4589

-LTC: $86.99

The global crypto market cap is $1.16T, a 1.23% decrease over the last day. The total crypto market volume during the previous 24 hours is $32.83B, which makes a 7.42% increase.

BTC: BTC price decreased by 1.39% and significantly decreased by 8.58% over 24 hours and in the past seven days. The asset reached a low and high of $27,317.63 and $27,979.98, respectively.

In light of an ongoing investigation into a significant corruption scheme allegedly involving individuals within President Maduro’s inner circle, authorities in Venezuela have requested local Bitcoin (BTC) miners to suspend their operations temporarily.

The scheme, which involved the national oil and gas company Petróleos de Venezuela, is suspected that it may have caused losses of up to $20 billion. Forbes has reported that cryptocurrency miners are currently under investigation and have been directed to cease mining activities for now.

ETH: ETH price decreased by 1.97% and 12.23% over 24 hours and in the past seven days. The asset reached a low and high of $1,831.16 and $1,888.19, respectively.

The recent movements of Bitcoin (BTC) and Ethereum whales have garnered considerable attention. In particular, an Ethereum address that has been inactive for 7.7 years since participating in the initial coin offering (ICO) of the Ethereum (ETH) blockchain has resurfaced.

On-chain analytics account Lookonchain has reported that the previously dormant wallet received 2,365 Ethereum, currently worth around $4.42 million, at the genesis of the Ethereum network.

Lookonchain via Tweet: “An Ethereum ICO participant woke up after 7.7 years of dormancy and transferred 1 $ETH to a new address. He received 2,365 $ETH($4.42M currently) at Ethereum Genesis; the ETH ICO price is ~$0.31.”

XRP: XRP price decreased by 2.49% and decreased by 10.59% over 24 hours and in the past seven days. The asset reached a low and high of $0.4559 and $0.4825, respectively.

California-based blockchain technology company Ripple has announced that its global payments solution, RippleNet, has facilitated over 20 million transactions, amounting to $30 billion in processed payments. To promote the use of RippleNet for streamlined treasury payments, the company has released a guide outlining the benefits of its payment solution for businesses.

Ripple’s payment solution provides access to a global network that spans multiple countries, such as Brazil, India, Mexico, Singapore, the United Arab Emirates, the UK, and many other regions. These areas account for a significant portion of the world’s remittance volume, with India and Mexico recording the highest volume of remittance inflows in 2022, amounting to $100 billion and $60 billion, respectively.

LTC: LTC price decreased by 0.41% and 12.63% over 24 hours and in the past seven days. The asset reached a low and high of $84.92 and $88.31, respectively.

The transfer of 112,482 LTC from Binance to an undisclosed wallet indicates progress for the Litecoin (LTC) blockchain. Analytics show that within the past 24 hours, the network processed 120,392,882 LTC transactions with 197,048 active addresses, resulting in a total of 91,779 transactions in a day.

The computational power and security of Litecoin have contributed to its growing popularity, evidenced by an impressive 783,119,893,335,823 beautiful hashes. As a digital currency, LTC has become a formidable player.

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