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Cryptocurrency prices have recovered from a steep drop earlier this week, with Bitcoin hitting a new 2023 high on Friday.
Bitcoin It last rose 1.42% to $37,862.76 for the first time since May 2022, according to Coin Metrics. The stock is on pace to end the week up 3.9%. Coin Metrics measures a week of cryptocurrencies trading 24 hours a day, starting at 4:00 PM (Eastern Time) on a given Friday and ending at the same time the following Friday.
meanwhile, ether It has bounced back above the key psychological level of $2,000 and was up 1.8% at $2,104.14 in the latest session. The second-largest token by market capitalization has outperformed the crypto market this week, ending up on pace to exceed 8%.
Solana, a massive outperformance this year (up over 476% compared to Bitcoin’s 130%), lagged behind the major tokens this week. It has been hovering just below the flat line this week.
Bitcoin has surpassed $38,000, setting a new high for 2023.
Investors are bracing for the end of Changpeng “CZ” Chao’s reign at the world’s largest exchange, Binance, after he agreed to plead guilty to federal criminal charges brought by the U.S. Department of Justice earlier this week. ing. The news comes less than a month after FTX founder Sam Bankman Fried was found guilty in a federal fraud and conspiracy trial.
While Binance serves as the most important liquidity pool for crypto trading, many believe the exchange settlement is necessary for the crypto industry moving forward, which is still recovering from the FTX collapse in 2022. I think it’s an expansion. Some believe that the resolution of the Binance investigation could even pave the way for the approval of a Bitcoin ETF, with many investors hoping that this will be a major catalyst that will push Bitcoin to significant new highs. are doing.
Traders are also reviewing the latest Federal Reserve minutes, released on the day of the Binance settlement, which show officials showing little appetite for rate cuts anytime soon. There is.
coinbaseBinance’s main rival, Binance, also hit a high of $116.94 for the first time since May 2022. The stock last traded up 5.4% at $115.14.
Elsewhere in crypto assets, Bitcoin proxies micro strategy It rose by 2.4%. Bitcoin miners jumped as well.The maximum profit is: iris energy and clean sparkprogressed by 12% and 14.8%, respectively.
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