The main cryptocurrency is gradually declining. By Friday, the price is fluctuating around 19030 USD. The BTC is getting closer and closer to the strong support area of 18000-19000 USD. Let's see if it holds back these not aggressive, but consistent bear attacks.
The main market motive is still the expectation of a future interest rate hike by the US Federal Reserve. There is no doubt that a rate hike will definitely happen: The debt market is giving clear signals. The question is the magnitude of the hike and the commentary about the maximum borrowing costs in the future. Whereas previously the 4% per annum target was fatalistically high, now the 5% target does not seem to be an emergency.
The cryptocurrency market capitalisation on Friday stands at USD 912.64 billion. The share of BTC is estimated to be 40.1% - it has increased. ETH's share has fallen to 17.3%.
SEC case against Ripple advances
After 18 months and 6 court rulings, Ripple has secured the SEC's handover of William Hinman's documents. These are drafts of a speech in which Hinman said that ETH is not a stock. Ripple will use these comments in the future to defend itself against allegations of improperly selling its XRP tokens.
FDIC: need to restrict the use of stablecoins
A representative of the Federal Deposit Insurance Corporation (FDIC) noted the previous day that further restrictions should be placed on the issuance of stablecoins. In particular, it is proposed to limit their use to permitted blockchains.
Some NFTs have become stocks
Four US states have recognised 2 NFT collections as stocks. At issue is the NFT of one of the casinos. Officials found that the tokens opened up access to the gaming platform, allowing them to earn money by streaming and guaranteed their owners a profit. The law ordered such operations to be stopped.