Bitcoin rose to trade above the US$26,000 resistance level in Asia on Friday morning, leading most non-top 10 stablecoin cryptocurrencies throughout the rally. The exceptions were Cardano and Toncoin, both of which posted minor losses. Ether posted modest gains but remains below US$1,650. US financial services firm GPM Organ Chase & Co. is reportedly investigating a blockchain-based payment and settlement system. U.S. stock futures were mixed after the S&P 500 and Nasdaq closed lower on Thursday. Stronger-than-expected jobs data added to US inflation concerns.
Bitcoin spearheads crypto winners
As of 07:30 am in Hong Kong, bitcoin had risen 1.62 percent to US$16,179.43 in the past 24 hours, reversing its weekly loss to 0.75 percent, it said. CoinMarketCap Data. As of Saturday, the world’s leading cryptocurrency was trading between US$25,500 and US$26,000. The US dollar hit an eight-day high of 26,409.30 on Friday morning.
JPMorgan, the largest US bank by assets, is “in the early stages” of developing a blockchain-based digital depository for cross-border payments and settlements. The bank has laid out most of the basic infrastructure, but will wait for approval from US regulators before launching its own token, according to Bloomberg. reported Friday.
Deposit tokens are transferable digital assets that represent a request for a deposit at a commercial bank. Token transactions are carried out on blockchains, making deposits faster and cheaper than traditional methods.
“It’s another sign that large corporations are continuing to build their blockchain capabilities,” Markus Thielen, head of research and strategy at digital asset services platform Matrixport, said in an emailed comment.
The market is currently awaiting a decision from the US Securities and Exchange Commission (SEC) regarding another US financial giant – BlackRock. June 15, the world’s top asset manager applied To obtain permission to create a Bitcoin Exchange Traded Fund (ETF).
“While most expect the SEC’s BlackRock decision to hit the market in October, news of the ETF’s approval could come at any time,” Thielen said.
“Once Bitcoin gains some momentum, the rally may have legs and bring prices above $30,000,” he said.
Elsewhere, US Federal Deposit Insurance Corporation (FDIC) Chairman Martin Grunberg; he said. On Thursday, although the US economy appears to be in good health, the nation’s banking industry “continues to face significant downside risks from the effects of inflation, rising market interest rates and geopolitical uncertainty.”
They have Bitcoin prices In history In March, Zurich-based lender Credit Suisse benefited from uncertainty in the banking system following the crisis. The sudden collapse of the bank Sent. The token price dropped from US$27,000 to US$28,000 on March 19.
Ethereum has gained 0.77% to US $1,644.68 in the last 24 hours and is down 0.07% for the last seven days.
Most of the other top 10 non-stablecoin cryptocurrencies posted smaller gains. Cardano’s ADA and Ton Network Tokencoin posted losses of 0.14% and 0.70% respectively. However, both coins posted a weekly gain of 1.07% for ADA and 3.68% for Toncoin.
Total crypto market capitalization gained 1.37% to US$1.05 trillion. Transaction volume fell 11.95% to US$23.81 billion.
