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Cryptocurrencies extended losses on Monday. The global crypto market cap stood at $1.16 trillion, with a volume of $31.67 billion in the past 24 hours. "In the past 24 hours, NKN (NKN) and ApeCoin (APE) have been the top gainers on WazirX," said Rajagopal Menon, Vice President, WazirX.

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, fell 2.3 percent to $27,733.3. Its market value stood at $543.03 billion. The trade volume was at $12.31 billion.

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"Bitcoin has been trading below the $28,000 threshold as investors await new data on productivity and employment in the United States this week," said Edul Patel of Mudrex.

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"Bitcoin, remained stable at late March levels. Investors are currently evaluating the potential impact of recent bank failures, inflation, and regulatory actions on the price of Bitcoin," said Rajagopal Menon of WazirX

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Ethereum | The second largest virtual currency, Ethererum or Ether, slipped 2.1 percent to $1,773.65 with a market capitalisation of $215.42 billion. The trade volume of Ethereum was $6.18 billion in the last 24 hours.

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On ETH, Patel said, "Ethereum is being traded at the US$1,700 mark, and its developers are eagerly anticipating the Shanghai update, which is slated to take place on April 12th and will signify Ethereum's complete transition to PoS."

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Dogecoin | Meme-based virtual currency, Dogecoin, slumped 9.4 percent on Monday. Its market value stood at $10.9 billion. The trade volume was at $840.36 million.

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Shiba Inu | Shiba Inu slumped 7.27 percent with a market capitalisation of $6.34 billion. The trade volume was $238.4 million in the last 24 hours.

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Solana | Solana slipped 3.93 percent to $20.1 with a market capitalisation of $7.86 billion. The trade volume of Solana was $231.06 million in the last 24 hours.

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Polygon | Polygon fell 2.14 percent with a market capitalisation of $9.88 billion. The trade volume was $213.18 million in the last 24 hours.

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Crypto Price Today: Bitcoin below 28k, Ethereum and other tokens edge lower - CNBCTV18

BitcoinBTC, ethereum and other major cryptocurrencies have rocketed higher in the first three months of 2023with some predicting the huge price rally could just be getting started.

Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market roller-coaster

The bitcoin price, following a brutal 2022 crash, has added around 70% since early January as traders increasingly bet the Federal Reserve is close to declaring victory in its war on inflation or risk triggering hyperinflation.

Now, analysts at the world's largest asset manager BlackRockBLK have warned the market is wrong to bet the Fed is about to flip dovish, predicting higher interest rates are here to stay.

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"We think the Fed could only deliver the rate cuts priced in by markets if a more serious credit crunch took hold and caused an even deeper recession than we expect, the BlackRock strategists wrote in a note seen by Bloomberg.

The banking crisis that engulfed Silicon Valley Bank, Signature Bank and Silvergate before spreading to Europe is thought to have been partly caused by the Fed's rapid series of interest rate hikes, adding to expectations the Fed would be forced to lower rates in coming months. However, the banks have stabilized this week, fueling hope the problems are contained.

"That damage is now front and centercentral banks are finally forced to confront it," BlackRock analysts wrote. "We think this means they are set to enter the new phase of curbing inflation that weve been flagging. We see major central banks moving away from a whatever it takes approach, stopping their hikes and entering a more nuanced phase thats less about a relentless fight against inflation but still one where they cant cut rates."

The bitcoin, ethereum and wider crypto price boom so far this year has been powered by "continued confidence in an imminent Federal Reserve rate cut," Alex Kuptsikevich, FxPro senior market analyst, wrote in a note.

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Earlier this month, Fed chair Jerome Powell told Congress there is still a "long way to go" in reducing inflation that spiked to a 40-year high in 2022. Spending, hiring and consumer confidence have all held up better than some expected them to despite the Fed's hawkish stance.

"With consumer resilience again shining through, there are growing expectations that the Federal Reserve may hike interest rates again at the next meeting, but its still believed to be close to the summit of peak rates, particularly as banking lending is expected to tighten, causing a drag on the economy," Susannah Streeter, head of money and markets at broker Hargreaves Lansdown, wrote in an emailed note.

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Originally posted here:

Crypto Price Alert: BlackRock Issues Stark Fed Warning After Huge Bitcoin And Ethereum Boom - Forbes

Freeport, a soon-to-be-launched blockchain-based platform that allows people to invest in fine art, is offering an exclusive four-piece collection of prints from pop artist Andy Warhol.

According to a press release, the four works were "partially acquired" from well-known art collectors, including Jane Holzer. The collection will include prints of some of Warhol's most famous works including "Marilyn" (1967), "Double Mickey" (1981), "Mick Jagger" (1975), and "Rebel Without a Cause (James Dean)" (1985) and will be limited to 1,000 tokenized lots each.

Dave Hendricks, CEO and co-founder of digital asset management tool Vertalo, told CoinDesk that Freeport will utilize Vertalo to tokenize the artworks so they can be bought and sold on decentralized finance (DeFi) platforms. The platform cleared a regulatory hurdle with the U.S. Securities and Exchange Commission (SEC) on Wednesday, allowing it to fractionalize shares of fine artworks in the form of security tokens on the Ethereum blockchain.

The collection plans to launch in May, though interested collectors can join the waitlist now. According to the website, the starting price for each tokenized lot will vary from $250 to $860.

"As more and more value moves on-chain, fractionalized art is increasingly being sought after by a younger, yet less financially flexible, class of investors," said Colin Johnson, CEO and co-founder of Freeport. "Our platform goes far beyond just fractionalizing shares of fine art into security tokens we've built a fullyvimmersive and interactive platform hosting an art-centric community and redefining the ownership experience surrounding fractionalized art."

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Andy Warhol Artworks to Be Offered as Tokenized Investments on Ethereum - CoinDesk

Godfrey Benjamin

With strong correlation, Ethereum can benefit from positive sentiment surrounding Bitcoin

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There is a surprising trend concerning the correlation matrix of the Ethereum (ETH) blockchain network as it relates to its links with Bitcoin (BTC). According to data from IntoTheBlock (ITB), Ethereum's price correlation with Bitcoin is currently pegged at 0.98, its highest for the month, as the smart contract-enabled protocol is set to close Q1 on a positive note.

Ethereum is trading at $1,800.83, atop a marginal loss of 0.62%. While its price is a fraction of what Bitcoin currently costs, the weekly growth rate lends credence to the fact being highlighted by the correlation data.

The digital currency is up by 3.44% in the trailing seven-day period while Bitcoin has soared close to this figure at 4.38% at the time of writing. The correlation has even become more resounding in determining the growth trend of both assets since the start of the year.

While Ethereum has grown by 50.02% in the year-to-date (YTD) period, Bitcoin has surged by 72.30%. The correlation between both assets has largely pushed the former to one of its best quarters since it attained the all-time high (ATH) of $4,891.70 back in mid-November 2021.

Per the influence of Ethereum's correlation with Bitcoin, it means the chances of the Ethereum price soaring are close to 100% whenever Bitcoin makes a significant price move.

Though the opposite also holds, recent sentiment surrounding Bitcoin has positioned the asset on a very steady and prolific growth trend in the near term, coupled with its advanced upgrades.

Beyond the opposite response to FUD that BitMEX founder Arthur Hayes claims is pushing the price of Bitcoin, the asset has also been drawing attention from institutional investors, and the forthcoming halving event can also help push its price, all of which will have a major corresponding impact on Ethereum if it maintains this strong positive correlation.

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Ethereum (ETH) Correlation With Bitcoin at Its Monthly High, Here's Why This Is Good Trend - U.Today

The VeChain Foundation published its quarterly financial reports for the Q4 of 2022 (October to December 22). The breakdown of the financial reports shows that the Foundation holds $275 million worth of cryptocurrencies in its reserves. The reserves include a trove of Bitcoin, Ethereum, VET, and stablecoins, among other assets.

The Foundation currently holds $35 million in stablecoins along with $240.3 million worth of cryptocurrencies mainly BTC, ETH, and VET. However, the bear markets wiped out a portion of VeChains reserves as their Q3 results in 2022 showed reserves standing at $357 million. Thats a decline of nearly 30% in three months during the Q4 of the same year.

Also Read: Bitcoin & Shiba Inu Outperform Nasdaq 100 Returns in Q1 of 2023

The VeChain Foundation explained the reserve dip in their latest blog saying, Towards the end of Q4, the fair value of total asset in USD was recorded at 275 million, indicating a 30.68% decline from Q3. This dip was primarily attributed to the prevailing crypto market situation.

Also, the fintech firm confirmed that a handful of clients were open to accepting cryptocurrencies as payment for their services. Around $2.18 million worth of cryptocurrencies including VET were paid to clients who accept cryptocurrencies. Close to $15.3 million was paid in the traditional form of finance such as fiat.

Also Read: Staking: Pretty Special Cardano Lures More Unique Wallets Than Ethereum

The recent blog highlighted that clients were open to receiving VET tokens as payment for their services. Paid in Token refers to an instance where a client was willing to accept payment in VET. A sign of confidence and faith in the value of VET as a utility token, the blog read.

VeChain is trading sideways for close to a month and is hovering around the $0.023 mark on Monday. VET doubled in price this year between January to late February and retraced in price in March.

Also Read: CME Group Kickstarts Offshore Yuan Options Trading

At press time, VeChain was trading at $0.023 and is down 2.5% in the 24-hour day trade. VET is also down 91.78% from its all-time high of $0.28, which it reached in April 2021.

Excerpt from:

VeChain's $275 Million Reserves Include Bitcoin, Ethereum, & VET - Watcher Guru