Cryptocurrency News

Crypto markets rebounded mildly early on Friday after the sell-off triggered by the anxiety surrounding Ethereum's Merge planned for August, abated. Overall crypto market capitalization has increased by 1 percent in the past 24 hours to $1.21 trillion.

Equity markets are in green zone amidst positive earnings updates and relief that the Fed would be willing to pause on rate hikes if inflation was coming under control. The Dollar-Index meanwhile touched a one-month low.

Diverging from the positive trends in European stock markets and the Wall Street Futures, cryptocurrencies are trading more than 5 percent lower on an overnight basis. Ethereum recorded a sharp fall in prices after a disruption in a block reorganization cast doubts on the ability of the blockchain to transition from a proof-of-work mode to proof-of-stake mechanism.

Sentiment remained weak as investors digested the minutes of the previous FOMC, released on Wednesday.

Cryptocurrencies are trading in a tight band early on Wednesday amidst an anxious wait to the minutes of the Federal Open Markets Committee meeting held in the first week of May.

Gains were modest and sentiment was weak as investors waited for the release of the FOMC minutes on Wednesday. Anxiety prevailed on the extent and frequency of the rate hikes that the Fed would be resorting to.

The European Central Bank, in its report "Decrypting financial stability risks in crypto-asset markets" released on Tuesday has warned of the financial stability risks stemming from crypto assets.

Hawkish comments from the ECB and Snapchat's warnings on future earnings as well as revenue influenced equity market sentiments in Tuesday's trade. Caution also prevailed ahead of the release of the FOMC minutes on Wednesday.

Cryptocurrencies rose modestly early on Monday amidst persisting Dollar weakness and gains in equity markets. Crypto market capitalization increased more than 1 percent overnight to $1.30 trillion whereas the Dollar Index, which measures the strength of the Dollar against a basket of six currencies, dropped by less than a percent, to 102.3.

Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.

Cryptocurrencies leaped on Friday tracking the broad-based recovery in the global stock markets. Equities rose as a cut in the Loan Prime Rate by China bolstered hopes of a quick economic recovery. Overall crypto market capitalization increased to $1.30 trillion, versus $1.25 trillion early on Thursday.

Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.

It indeed has been an extremely bearish trajectory for global financial markets, ever since inflation reared its ugly head and central banks worldwide responded by transitioning to a not-so-accommodative monetary policy stance. It has been particularly painful for cryptocurrencies, that tumbled for both macro-economic and industry-specific reasons.

Lingering worries over global growth, amidst persistent inflation and the unabated geopolitical crisis in eastern Europe sent world stock markets deep into the red zone. Warnings from corporates on supply chain bottlenecks and resultant impact on future earnings too dampened sentiment. Caution also prevails ahead of the minutes of ECB's recent meeting.

Crypto market capitalization increased in the past 24 hours as markets attempted to move in tandem with the global rally in stock markets, especially the tech stocks.