See More

Exclusive What Changed in the Crypto Markets While You Were Sleeping — March 26

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • Bitcoin has recovered slightly today after dropping to $50,300 on March 25.
  • Theta Network (THETA) has usurped Litecoin (LTC) to become the ninth-biggest cryptocurrency by market cap.
  • A new Ethereum staking trust has been launched by Staked to attract institutional investors to the new financial landscape.
  • promo

BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin (BTC) Update

Bitcoin has recovered slightly today after dropping to $50,300 on March 25. BTC is currently trading for $52,680 — a 4.5% gain for anyone that was able to perfectly time yesterday’s dip.

However, BTC isn’t out of the woods yet. It’s broken down below a channel that has been ongoing since Dec. 12, 2020.

BTC Chart by TradingView

In cases like this, it’s normal to see the price retest the support line as resistance. This appears to be what’s happening now. Whether or not BTC can move back into the channel will likely determine the direction of the trend.

Altcoin Movers

The top-ten ranked cryptocurrencies have seen a bit of rearranging this week. After initially breaking into the top-ten on March 23, Theta Network (THETA) has continued seeing success. It has usurped Litecoin (LTC) to become the ninth-biggest cryptocurrency by market cap.

CoinMarketCap is reporting #87-ranked Qtum (QTUM) is performing the best today. It’s up by more than 21% and trading at $9.08. In the past week alone, the asset has gained 33%.

MVL (MVL) currently ranked #99 is the worst performer in the top-100 this morning. It’s down 9.3% and trading at $0.049, although it’s still up by more than 34% in the past week.

In Other Crypto News

Continuing on with the craze of non-fungible tokens (NFT), the VeryNifty platform has introduced NFT flash loan features. VeryNifty announced that the first flash loan function will be available for the Hashmasks NFT collection. The flash loan smart contract enables users to borrow a set of Hashmasks and claim the platform’s native Name Changing Tokens (NCT).

Ethereum has also been a hot topic for conversation. A new Ethereum staking trust has been launched by Staked to attract institutional investors to the new financial landscape. The product is offering an annual percentage yield of 7.5% in ETH. Investors can capture both ETH exposure and a growing ETH balance due to crypto staking rewards.

Microsoft revealed the launch of its own decentralized identity platform built on the Bitcoin blockchain. The platform, named ION, is the software giant’s bid for delivering decentralized identity applications in the digital world.

Top crypto platforms in the US | April 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Kyle-Baird.png
Kyle Baird
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.
READ FULL BIO
Sponsored
Sponsored