BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
Bitcoin (BTC) had a tough day yesterday. It slipped back to $55,900 after opening the day at $58,000.
It’s recovered slightly today and is currently trading for $56,888. At the moment, it appears to be moving closer to reentering the range highs (green box). It’s possible that this could just be retest of the range as resistance.
If BTC is unable to reclaim the level and close above the support line of the ascending channel, we could potentially see a move back to the $50,000-$52,000 range.
Altcoin movers
The altcoin market is recovering this morning for the most past after many saw double-digit losses yesterday.
XRP managed to overtake the USDT market cap yesterday, but has slipped back into the #5 spot today. XRP is currently trading for $0.94 with a market cap of $42.48 billion.
WazirX (WRX) is today’s biggest altcoin gainer in the top-100 for the second time this week. WRX is trading for $4.14, gaining 27% on the day and is up nearly 400% in the past week alone.
The OMG Network (OMG) is still having trouble bouncing back from yesterday’s losses. Although it’s still up by 20% on the week, it’s lost 17% in the past 24 hours. It’s currently trading for $9.42 after reaching a nearly three-year high of $11.14 on April 7, 2021.
In other crypto news
Forbes has released its annual list of the richest people in the world. The list saw an additional 493 new billionaires created in the last year and included a few involved in the cryptocurrency industry.
Charles Hoskinson, an Ethereum co-founder and founder of Cardano, discussed the roadmap for the protocol’s plans up through 2025.
The World Economic Forum (WEF) held its Global Technology Governance Summit this week. BeInCrypto covered several panels on tokenization and the future of digital currencies.
