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Top Cryptocurrency News on July 9: faces $270 million hit, and more

A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.

July 09, 2022 / 10:30 AM IST
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[content][quote]Market Buzz[/quote][title]Bitcoin, ether trade in the red[/title][circularimage][/circularimage][body]
Most cryptocurrencies were trading in the red, with bitcoin down 2 percent, early on July 9. The global cryptocurrency market is currently $1.35 trillion, a decline of 4.84 percent over the past 24 hours. Bitcoin, the world's largest cryptocurrency by market capitalisation, is trading at over $32,700. The price of ether is down 9 percent, trading at over $2,000. Payments company Square Inc on July 8 said it will make a hardware wallet for bitcoin. "We have decided to build a hardware wallet and service to make bitcoin custody more mainstream..." Jesse Dorogusker, head of hardware at Square, said in a series of tweetsRead full here


[content][quote]Big Story[/quote][title] faces $270 million hit on loans to bankrupt Three Arrows - CoinDesk[/title][body]
Cryptocurrency exchange could lose $270 million from lending to hedge fund Three Arrows Capital (3AC), which filed for bankruptcy earlier this month, CoinDesk reported on Friday. "Three Arrows is rapidly becoming insolvent and the default impact is approximately $270 million worth of cryptocurrency and U.S. dollar loans from," the report said, quoting Chief Executive Officer Peter Smith's letter to shareholders. Read Further


[content][quote]Expert's Opinion[/quote][title]As crypto prices climb, experts stay cautious[/title][body]
After being in the red for over a month, cryptocurrency markets have pared some of their losses and are trading up about 10 percent over the last week. Global cryptocurrency market capitalisation also briefly reclaimed the $1 trillion mark. The world’s largest digital currency by market cap, Bitcoin (BTC), is above the psychological level of $21,500, up 10 percent for the week and up 5 percent on Friday alone. The second-largest digital currency, Ethereum (ETH) is up 15 percent for the week, trading around the $1,220 level, and a rise of around 3 percent on Friday. Other major cryptocurrencies like Binance coin, Solana, Shiba Inu, and Ripple’s XRP have gained 10 percent, 11 percent, 7 percent, and 5 percent respectively in the past week. Take a look


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first published: Jul 9, 2022 10:30 am