New Delhi: crypto The market continued to be range bound on Friday with enough pressure on altcoins to drag them lower. The sudden rise in US bond yields dented appetite for risky assets.

On the technical front, Bitcoin might be undervalued, but the macroeconomic environment remains so sketchy that investors may not want to jump in just yet, analysts said.

Except for Bitcoin, Ethereal Y doecoin, which posted slight gains, all other crypto tokens were trading lower. Uniswap plunged about 4 percent. Moles, Cardano Y Solarium each fell 3 percent.

The global cryptocurrency market capitalization traded flat at $915.30 billion, almost unchanged in the last 24 hours. Total trading volume, however, plunged more than one percent to $44.32 billion.

expert opinion

Edul Patel, CEO and co-founder of Mudrex, said that Bitcoin rallied to a key point of support after a two-day losing streak. “As the bulls have become active in the market, we could see Bitcoin reaching $19,600 in the next few days,” he said.

On the other hand, Ethereum is trading very close to its local resistance level at $1,295. If the bulls can sustain gains, ETH could likely rally to the $1300 level, she added.

global updates

Axie Infinity, which saw a meteoric rise in popularity last year as one of the first crypto-focused computer games, could face significant sell-off pressure as the project’s $215 million worth of AXS tokens are set to be unlocked in the coming months. days.

Publicly traded Coinbase will waive commissions on sales and purchases of USD coins made in any fiat currency in a bid to promote broader global adoption of its stablecoin, it said in a blog post.

Stablecoins could have such a profound effect on the established banking system that U.S. regulators should require digital tokens to fit in without disrupting it, said Martin Gruenberg, interim president of the Federal Deposit Insurance Corp.

Cryptocurrency exchange Binance has denied allegations of misusing its users’ token holdings to exercise voting power in decentralized autonomous organization Uniswap.

NFT marketplace Rarible has released a feature-packed update to its ecosystem called Rarible 2, which transforms the platform into an aggregated NFT marketplace and introduces the RARI Foundation and new RARI governance token rewards.

Finance can never become truly decentralized, said a member of the Bank of England’s financial stability committee, citing an unfair advantage for experts and the need to respond to unforeseen events.

Technical view of the BuyUcoin cryptocurrency exchange

Quant token (QNT) made it to the top 30 crypto assets list with its latest dream run. The QNT token is among the best performing crypto assets in recent times and is currently trading at $178.96 with a healthy growth of over 7% in the last 7 days.

QNT’s prospects look promising as central banks around the world are looking at accounting technology for their CBDC operations. The current surge in CBDCs will create more growth prospects for QNT and can be seen as a long-term investment option based on investors’ risk appetite.