US lawmakers seek answers from Silvergate about FTX link
United States senators have requested information from Silvergate Capital regarding the firm's association with FTX.
In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin Bitcoin Cash, Ethereum, and Ripple — were down -1.77%. The best performer of the bunch was XRP, which went up 0.26% and currently is sitting near $0.292664 USD. On the flip side, the worst performer was Ethereum coming in at -3.33%; its price is now near $180.74 USD. In total, one coin was up from the day prior, which indicates almost the entirety of the sector as a whole moved down.
Bitcoin, Bitcoin Cash and Ethereum had especially unusual moves, in the sense that they were much larger than the normal daily trading range of each respective currency. What caused these moves might be worthy of further investigation. Technical traders may also wish to note the following developments in price action:
The blockchain that saw the most transactions recorded on its blockchain over the past day was Ripple; its 891,427 transfers added was about 30% greater than the transactions recorded on Ethereum, which was the runner up for transactions logged on its chain over the past 24 hours. Ripple’s transaction fee was also less than Ethereum’s, suggesting transaction fees might be a key reason why users are preferring Ripple. Bitcoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $44,407,380 US dollars. Bitcoin’s dominance of the crypto market remains intact, with it now accounting for approximately 66.31% of the value of all circulating cryptocurrencies Note that Bitcoin’s dominance level has been in a downtrend, falling between 66.21% to 67.57% over the past two weeks.
United States senators have requested information from Silvergate Capital regarding the firm's association with FTX.
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Bitcoin regulation is an ever-evolving topic, especially in the United States where national legislation is impacted by individual states.
Financial information accidentally leaked in a presentation shows that BlockFi's financial ties to FTX were much higher than previously...