Bitcoin holds $17k; Dogecoin, Ethereum and Solana gain up to 4% • The Beacon Bolt


New Delhi: The crypto market remained firm during the early Asian hours on Monday as the investors were hopeful at a more dovish US Federal Reserve.

Bitcoin held the $17,000 mark, whereas Ethereum was marching towards the $1,300 mark. The Federal Open Market Committee would likely raise interest rates 50 basis points instead of continuing its current diet of 75 bps.

Barring the Tron, top crypto tokens were trading higher on Monday. Solana jumped more than 4%, whereas Etheruem, Dogecoin and Polkadot were 3% up each. Tron dropped over a per cent.

The global cryptocurrency market cap was up as much as 2% in the last 24 hours at $866 billion. The total trading volume jumped about 9% to $33.10 billion.

Global updates
Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won’t survive.

FTX’s digital currency futures and clearing house LedgerX is up for sale and has attracted interest from crypto firms including Blockchain.com, Gemini, Bitpanda and Kalshi, Bloomberg reported on Friday, citing sources.

Core Scientific, Bitfarms and Genesis Digital Assets are among miners that have direct and indirect exposures to the fallout.

The crypto exchange’s subsidiary has confirmed Japanese customer funds will remain separate from the ongoing bankruptcy proceedings in the US.



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