As of March 31, 2023, the cryptocurrency market continues to show volatility, with Bitcoin and Ethereum prices at $28,188 and $1,802, respectively. The market capitalization stands at $1,177 billion, representing a decrease of 0.19%. The 24-hour spot volume has increased by 15.78% to $50.90 billion, while Bitcoin dominance has risen to 46.22%, up by 0.24%.
In the past 24 hours, liquidations of more than $122.31 million have occurred, affecting 34,942 traders. The largest liquidation order was at OKX with a value of $2 million. As the market continues to be volatile, investors need to monitor market movements and stay informed about the latest developments to make informed decisions.
However, the increase in the number of bulls (supply in a profit) over bears (supply in a loss) may indicate a short-term downside risk. CryptoQuant data highlights the concern that when the number of bears decreases relative to bulls, this creates the possibility of sudden bear appearances, and since March 17, 2023, the local number of bears has reached a minimum.
In the top gainers list for the past 24 hours, FEG (FEG) is leading with an increase of 91,331,518.2%, followed by MANGOMA INTELLIGENT (MMIT) with 43.2%, Baby Doge Coin (BABYDOGE) with 28.6%, UwU Lend (UWU) with 27.1%, and Nexa (Nexa) with 25.8%. The fear and greed index stands at 63, representing greed.
In the news, the decentralized exchange Raydium, built on Solana, plans to launch a bug bounty program worth 10 million RAY, equivalent to around $2.3 million, to check for any vulnerabilities that could affect the core smart contract of the protocol. The plan will reward white-hat hackers with up to $505,000 or at least 5,000 RAY tokens depending on the severity of the bug discovered. The program will be managed through Immunefi, a platform that has already spent $52 million to reward bug bounties in 2022.
Meanwhile, Elizabeth Warren, a US Senator, has expressed her intention to build a team to fight against digital currencies. On the other hand, Gemini, a cryptocurrency exchange founded by the Winklevoss twins, is planning to launch an international crypto derivatives platform that will offer futures trading, a product banned in the United States for individual traders due to the high risk of leverage. The exchange has also been looking for market makers for an overseas plan.
Read more:
- Crypto Watch On March 29: Bitcoin And Ethereum Showing Little Change
- Crypto Watch On March 30: Bitcoin Reaches Year-High, Surpassing $29,000 Mark