bitcoin price today: Crypto Price Today Live: Bitcoin Holds $17,000; Litecoin 2% tanks, Shiba Inu sole winner

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New Delhi: Crypto markets were under pressure on Friday, tracking stock market action after hawkish comment from the Federal Reserve.

The Fed action provided a reality check for riskier assets, including cryptos, which wiped out the buoyancy seen in digital tokens boosted by online inflation numbers earlier this week.

Bitcoin was holding above the $17,500 levels after a long consolidation, while Ethereum remained below the $1,300 mark.

With the exception of Shiba Inu, all other major crypto tokens were trading in the red. Litecoin, Bitcoin and Ethereum fell 2% each, followed by BNB, Dogecoin and Cardano.

The global cryptocurrency market capitalization traded at around $850 billion, slipping more than one percent in the past 24 hours. Total trading volume fell by around 27% to $33.8 billion.

What’s New in India CoinSwitch, the India-based crypto investment app, has revealed a brand new brand identity, which includes a new logo, colors, font, and mobile app.

The company is set to become the first Indian crypto company to diversify into other asset classes as part of its mission to make money equal for all.

Expert opinion The prices of most cryptocurrencies fell as the market continued to react to the recent interest rate hike by the Federal Reserve, said Edul Patel, CEO and co-founder of Mudrex.

“This may have been caused by traders taking profits after three days of gains. Bitcoin’s support is currently at $17,100 and its resistance is at $17,550,” he added.

Chaturvedi, Head of Crypto Ecosystem, CoinSwitch said the FTX Fiasco continued to unfold over the past week, which resulted in the arrest of SBF in the Bahamas, the SEC and the CFTC laying charges of fraud and embezzlement.

“However, no real clarity emerged on contagion effects as Genesis’ financial situation remained murky. On the contrary, crypto markets appeared to have found a footing and stabilized at a market capitalization of nearly $900 billion,” Chaturvedi added.

Global Updates Archblock, a lead developer of the TrueFi unsecured lending protocol, is working with Adapt3r, a subsidiary of alternative asset manager MJL Capital, to bring regulated community banks in the US to decentralized finance.

Binance, the largest crypto exchange by traded volume, is not the next FTX, according to CryptoQuant. The Seoul-based analytics firm points to on-chain data to back up claims made in a recent audit that Binance is overcollateralized.

Members of the Decentralized Autonomous Organization (DAO) of the Ethereum Name Service (ENS) voted to elect delegates for three working groups for the coming year.

Web3 domain provider Unstoppable Domains will integrate with Ethereum’s popular blockchain explorer, Etherscan, as well as Polygonscan in early 2023, the company said.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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