Investors, customers, developers, and regulators are all becoming more interested in cryptocurrency. It has its own set of complexities, just like every other new technology.
Top Crypto News from cryptosphere:
Around the time of the US employment survey, Bitcoin climbed above $57,000. At the time of publishing, the cryptocurrency was trading around $58,694 and was holding support on the intraday and regular time frames.
After the U.S. employment report, traders hoped for more Fed help, which led to a rise in bitcoin. Altcoins are already outperforming. The poor employment report bolstered hopes of the Federal Reserve's continued easy money strategy, sending bitcoin (BTC) up around 2% in the last 24 hours.
Ethereum has outperformed major digital currency rivals this year, boosted by a boom in decentralized finance (DeFi) and the prospect of a technological adjustment this summer, but it faces roadblocks that could slow its progress. After bitcoin, ethereum has the second-largest market capitalization, with a price increase of more than 350% this year. At the time of publishing, the cryptocurrency ether was trading around $3,543, up 2.64%.
The price of Dogecoin has risen since Elon Musk's SNL appearance tweet, and memes have taken over Twitter. At the time of publishing, the cryptocurrency DOGE was trading around $0.717, up 15.83%.
ADA, the Cardano smart contract platform's native token, has entered the list of altcoins that have reached new all-time highs this week.
The Indian National Payments Corporation has requested that banks decide whether or not to block cryptocurrency transactions. According to the Economic Times, the National Payments Corporation of India (NPCI), a central bank-owned retail payments system, has deferred the decision on whether or not to enable customers to make and receive payments from cryptocurrency trading to commercial banks.
The governor of the Bank of England, Andrew Bailey, has cautioned cryptocurrency investors about the risks of investing in the market.
Trading of cryptocurrency mined outside of Iran has been banned, according to news reports published Thursday by the Central Bank of Iran (CBI). The ban aims to prevent capital flight from the nation, which could be due to the effects of the Rial's depreciation.