Coinbase, a major hub for cryptocurrency trading, saw its CEO fall from the ranking of the top 500 richest list, indicating possible turbulence within the industry. This comes as the company's earnings are coming up, and has partly been affected by Coinbase's stock sinking 11%. Regulatory risks and volume weakness have also negatively impacted the crypto exchange company. Ground shattering changes are also imminent in the crypto lending, creating major risks, as traditional financial institutions have started using cryptocurrency as collateral.Multinational banks are targeting cryptocurrency trading despite regulatory risks. Strong resistance is present, but traders and investors foresee potential for a bull run, dependent on the Federal Reserve's decision on interest rates. The market is largely showing signs of instability with Bitcoin's price fluctuating markedly. Coins such as
XRP and
DOGE rallied into positive territory as Federal Reserve cuts loom while
Ethereum is eyed for an all-time high.
Monero (XMR) has also experienced an uptrend but faces a potential pullback. The altcoin market has witnessed major activities with some $585M in token unlocks anticipated to result in selling pressure. However, other tokens, including
LOOM Coin, have performed relatively well. Nevertheless,
Binance, the world's largest crypto exchange by trade volume, has announced that they will delist XEM, ORBS, and LOOM perpetual contracts.
LOOM Coin News Analytics from Mon, 28 Aug 2023 07:00:00 GMT to Sun, 15 Feb 2026 15:12:39 GMT -
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