Crypto infrastructure firm Bakkt has completed a $37.6 million securities purchase agreement, providing a much-needed cash infusion to support its turnaround efforts and drive profitability after warning investors of a cash crunch last month.
XRP gained 3.34% on Wednesday, partially reversing Tuesday’s losses, as demand for Bitcoin and the broader crypto market rebounded, aided by positive comments from Fed Chair Powell and increasing scrutiny over the SEC’s actions in crypto-related cases.
Crypto miner Hut 8 is closing its Bitcoin mining site in Drumheller, Alberta due to elevated power prices and voltage problems despite the facility accounting for just 1.4% of its total hash rate.
Bitcoin (BTC) reached a new all-time high above $69,000, just two months after the approval and launch of several spot Bitcoin ETFs, raising questions about whether the ETFs accelerated this bull run.
Ether (ETH) price surged 13% in a week, nearing $4,000, but derivatives data suggests an overheated market. While a new all-time high above $4,800 is possible, excessive leverage from traders poses a risk of forced liquidations. The potential approval of a spot ETF fuels bullishness, but overconfidence could undermine sustainability.
Solana (SOL) jumped over 7% to become the 4th biggest cryptocurrency by market cap as it climbed above $140 amid Bitcoin’s latest rally toward a new all-time high price.
Dogecoin (DOGE) price has rallied over 150% in the past week, reaching a three-year high above $0.20.
Litecoin has displayed a positive trend recently, gaining 27.37% in the last 30 days. The medium-term trend for Litecoin has been bullish, with LTC increasing by 17.22% in the last 3 months.
Ethereum gas fees spiked to new highs exceeding $300 for basic transactions as ETH topped $3,600, driven by surging NFT and DeFi activity ahead of next month’s fee-reducing upgrade.
Chinese state media outlet Economic Daily cautioned investors about Bitcoin risks amid the crypto’s price rally, as China maintains its ban on crypto trading and services.
