Cryptocurrency Live News & Updates : Bitcoin's Market Share Drops as Crypto Value Rises
Bitcoin's market dominance has fallen by 1.78% to 59.4%, while the overall cryptocurrency market value has increased by 0.31%. Excluding Bitcoin, the market value has risen by 3.06%. Recent reports highlight significant movements in the cryptocurrency market. Bitcoin's market share has decreased to 59.4%, reflecting a 1.78% decline, even as the overall market value has seen a slight increase of 0.31%. Notably, two new Ethereum addresses received a substantial transfer of 25,684 ETH, valued at approximately $115.11 million, indicating ongoing interest in Ethereum. Meanwhile, investor Huang Licheng, known as 'Machi Big Brother,' faces a staggering unrealized loss of $3.14 million across his crypto holdings, underscoring the volatility in the market. Additionally, Galaxy Digital warns of rising leverage in crypto markets, with a 27% increase in crypto-collateralized loans last quarter. This surge has led to over $1 billion in liquidations following Bitcoin's price drop, revealing the fragility of the current market conditions. As the Federal Reserve hints at potential rate cuts, the crypto landscape remains dynamic, with institutional interest growing, particularly in Bitcoin and Ethereum, despite the challenges posed by high borrowing costs and liquidity mismatches. Show more
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Business Standard
13 minutes ago
- Business Standard
Asian stocks rise as investors track Ukraine war after Trump-Putin summit
Asian shares were mostly higher Monday after US stocks edged back from their record levels on Friday. US futures were little changed as investors watched for developments in the Ukraine crisis following a summit between President Donald Trump and Russian President Vladimir Putin that brought no breakthroughs. Japan's Nikkei 225 gained 0.9 per cent to 43.776.38, while the Hang Seng in Hong Kong added 0.3 per cent to 25,344.48. The Shanghai Composite index jumped 1.2 per cent to 3,740.50. Australia's S&P/ASX 200 was virtually unchanged, while the Kospi in South Korea declined 1.3 per cent to 3,184.17. Trump was preparing to meet later Monday with Ukrainian President Volodymyr Zelenskyy and other European leaders in Washington. The European vanguard were not included in Trump's summit with Russian President Vladimir Putin last Friday. They are seeking to present a united front in safeguarding Ukraine and the continent from any widening aggression from Moscow. An annual meeting in Jackson Hole, Wyoming, of top central bankers later this week is also drawing attention. Federal Reserve chair Jerome Powell is due to speak Friday at the economic policy conference. Expectations have been building that the Fed will cut interest rates at its next meeting in September, though mixed reports on the US economy have undercut those bets somewhat. One report Friday said shoppers boosted their spending at US retailers last month, while another said manufacturing in New York state unexpectedly grew. A third said industrial production across the country shrank last month, when economists were looking for modest growth. Yet another report suggested sentiment among US consumers is worsening because of worries about inflation, when economists expected to see a slight improvement. On Wall Street, UnitedHealth Group jumped 12 per cent on Friday after famed investor Warren Buffett's Berkshire Hathaway said it bought nearly 5 million shares of the insurer during the spring, valued at $1.57 billion. Buffett is known for trying to buy good stocks at affordable prices, and UnitedHealth's halved for the year by the end of July because of a run of struggles. Berkshire Hathaway's own stock slipped 0.4 per cent. Applied Materials helped lead Wall Street lower with a decline of 14.1 per cent even though it reported better results for the latest quarter than analysts expected. The focus was on the company's forecast for a drop in revenue during the current quarter. Its products help manufacture semiconductors and advanced displays, and CEO Gary Dickerson pointed to a dynamic macroeconomic and policy environment, which is creating increased uncertainty and lower visibility in the near term, including for our China business. Sandisk fell 4.6 per cent despite reporting a profit for the latest quarter that blew past analysts' expectations. Investors focused instead on the data storage company's forecast for profit in the current quarter, which came up short of Wall Street's. On Friday, the S&P 500 fell 0.3 per cent to 6,449.80. The Dow Jones Industrial Average edged 0.1 per cent higher, to 44,946.12. The Nasdaq composite sank 0.4 per cent to 21,622.98. In other dealings early Monday, US benchmark crude oil shed 2 cents to $62.82 per barrel, while Brent crude, the international standard, gave up 6 cents to $65.79 per barrel. The US dollar rose to 147.38 Japanese yen from 147.18 yen. The euro was unchanged at $1.1703. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
2 hours ago
- Mint
Bitcoin price drops to $115k mark. Details here
Bitcoin, the largest cryptocurrency, declined by over 2 per cent on Monday, August 18, reaching around $115,000 ahead of US President Donald Trump's discussions with Ukrainian President Volodymyr Zelenskiy in the White House. This follows a summit with Russia that ended without heightening geopolitical tensions. (This is a developing story. Check back for more updates.)
Time of India
3 hours ago
- Time of India
Oil falls on easing Russia supply concerns after Trump-Putin meet
Oil prices slipped on Monday as the U.S. did not exert more pressure on Russia to end the Ukraine war by implementing further measures to disrupt Russian oil exports after the presidents from both countries met on Friday. Brent crude futures dropped 26 cents, or 0.39 per cent , to $65.59 a barrel by 0028 GMT while U.S. West Texas Intermediate crude was at $62.62 a barrel, down 18 cents, or 0.29 per cent . U.S. President Donald Trump met Russian President Vladimir Putin in Alaska on Friday and emerged more aligned with Moscow on seeking a peace deal instead of a ceasefire first. Trump will meet Ukrainian President Volodymyr Zelenskiy and European leaders on Monday to strike a quick peace deal to end Europe's deadliest war in 80 years. The U.S. president said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to "in two or three weeks", cooling concerns about a disruption in Russian supply. China, the world's biggest oil importer is the largest Russian oil buyer followed by India. "What was primarily in play were the secondary tariffs targeting the key importers of Russian energy, and President Trump has indeed indicated that he will pause pursuing incremental action on this front, at least for China," RBC Capital analyst Helima Croft said in a note. "The status quo remains largely intact for now," Croft said, adding that Moscow will not walk back on territorial demands while Ukraine and some European leaders will balk at the land-for-peace deal. Investors are also watching Federal Reserve Chairman Jerome Powell's comments at the Jackson Hole meeting this week to search for clues on the path of interest rate cuts that could boost stocks to more record highs. "It's likely he will remain non-committal and data-dependent, especially with one more payroll and CPI (Consumer Price Index) report before the September 17th FOMC meeting," IG market analyst Tony Sycamore said in a note.
