Cryptos Today: Bitcoin Supports $19K With US Holiday; Ethereum and other altcoins rise

“Bitcoin’s strength remains weak, with some volatility seen on both sides, which is typical in pauses between trend continuations,” Joe DiPasquale, CEO of crypto asset manager BitBull Capital, told CoinDesk. “We currently expect BTC to see more negative moves, but we are also closely watching market reactions to gauge a drop in selling interest.”

Ethereum (ETH), the second-largest cryptocurrency by market cap, trades just below $1,100, virtually flat over the past 24 hours. Major altcoins on the market were also seeing little change this morning.

  • Watch: What Happened to El Salvador After Bitcoin Crash?

Check out the performance of the main cryptocurrencies at 7:05 am:

cryptocurrencyPriceChange in the last 24 hours
Bitcoin (BTC)US$ 19,374.48+1.77%
Ethereum (ETH)US$ 1,066.94+0.80%
Binance Coin (BNB)US$ 219.94+1.28%
XRP (XRP)US$ 0.3188+2.10%
Cardano (ADA)US$ 0.4516+0.65%

Cryptocurrencies with the biggest gains in the last 24 hours:

cryptocurrencyPriceChange in the last 24 hours
TerraClassicUSD (USTC)US$ 0.06402+11.09%
Arweave (AR)$11.25+11.01%
THORChain (RUNE)$1.95+9.43%
Synthetic (SNX)$2.78+6.84%
The Sandbox (SAND)$1.08+5.47%

Cryptocurrencies with the biggest drops in the last 24 hours:

cryptocurrencyPriceChange in the last 24 hours
Theta Fuel (TFUEL)US$ 0.05127-12.63%
NEITHER (XEM)US$ 0.04088-5.27%
KuCoin Token (KCS)$8.17-3.52%
Polygon (MATIC)US$ 0.4648-2.55%
ApeCoin (APE)$4.44-2.53%

Check out how cryptocurrency ETFs closed in the last trading session:

ETFPriceVariation
Hashdex NCI (HASH11)BRL 17.04+4.73%
Hashdex BTCN (BITH11)BRL 24.60+4.23%
Hashdex Ethereum (ETHE11)BRL 16.66+4.12%
Hashdex DeFi (DEFI11)BRL 17.39+4.50%
Hashdex Smart Contract Platform FI (WEB311)BRL 17.99+9.02%
QR Bitcoin (QBTC11)BRL 6.47+4.01%
QR Ether (QETH11)BRL 4.10+6.49%
QR DeFi (QDFI11)BRL 3.30+3.44%

See the main news from the crypto market this Monday (4):

Lending platform Vauld suspends transactions

Singapore-based crypto lender Vauld has suspended all withdrawals, trading and deposits on its platform as it studies restructuring options.

Vauld has recorded withdrawals of around $198 million since June 12, the day the crypto markets began to slump and began to pick up with Celsius pausing withdrawals on its platform the next day.

The company is exploring possible restructuring options as a means of meeting its challenges, Vauld said in a statement on Monday.

Last month, Vauld announced it would lay off 30% of its staff, with most of them located in India. In addition, she engaged Kroll for financial advisory services and engaged Cyril Amarchand Mangaldas and Rajah & Tann Singapore LLP as legal advisors in India and Singapore respectively.

Solana’s DeFi Protocol Loses $8.8M in Attack

Solana-based liquidity protocol Crema Finance had more than $8.78 million worth of cryptocurrencies stolen from its platform in a weekend attack, developers said in a tweet.

Crema said it suspended its smart contract after exploration. The protocol allows liquidity providers to set specific price ranges, add one-sided liquidity and conduct range order trading. This creates a sophisticated and decentralized trading platform.

“We work closely with several experienced security institutes and relevant organizations to track the movements of hacker funds,” the developers said.

The amount blocked at Crema dropped to $3 million on Monday from more than $12 million on Saturday after the attack, the data show. Crema has reported trading volumes of $1.34 billion since its inception in January.

Software company Meitu loses up to US$ 52 million in the 1st half of the year as the market falls

Hong Kong-listed software company Meitu lost between $41.1 million and $52.3 million in the first half of 2022, mainly due to a drop in the value of its cryptocurrency holdings.

The company’s losses increased between 99.6% and 154.1% compared to the same period last year, the company said in a July 1 statement to the Exchange.

The company incorporated in the Cayman Islands, Meitu, is known in China for its artificial intelligence facial beautification app.

Three Arrows Capital files for bankruptcy of British Virgin Islands branch

Crypto hedge fund Three Arrows Capital (3AC) filed for bankruptcy through “Chapter 15” in the Southern District of New York, United States, on Friday (1), after weeks of speculation that it was insolvent. .

The “Chapter 15” filings, in free translation, are often linked to foreign proceedings. The move indicates that the request is likely linked to a decision by a court in the British Virgin Islands that on Friday ordered the liquidation of the local subsidiary of Three Arrows.

The move comes after the company borrowed large amounts from a number of cryptocurrency lenders, including BlockFi, Celsius, Babel Finance and Voyager Digital, but failed to repay.

To weather the recent strong sell-off in the market, lenders had to halt withdrawals or needed extended lines of credit to weather the storm. Chapter11dockets.com, for example, first announced bankruptcy, and Bloomberg reported that it was a Chapter 15 filing.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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