Altcoin News

Interoperability protocol Poly Network has confirmed that it has suffered a major exploit - loosing at least USD 600.3m of its funds.

Public blockchain platform Solana (SOL) went down again in the early morning hours on Tuesday. The issue was brought up by several community members, as well as major crypto exchange Coinbase, which warned users that Solana was experiencing "network-wide degraded performance."

The purported benefits of a central bank digital currency (CBDC) in the United States are “uncertain and unlikely to be realized,” and there is no compelling case for it, the American Bankers Association (ABA) has said in a letter to the US Federal Reserve (Fed). The letter also warned that a CBDC could undermine the banks’ business model.

Bitcoin price extended its decline below USD 47,000. Ethereum could test the USD 3,000 support, XRP retested the USD 1.05 support. SOL rallied 15% and it broke the USD 80 level.

While some furious South Korean crypto investors are readying multiple lawsuits for Do Kwon and the masterminds of the troubled terra (LUNA) protocol, others in the country are snapping up LUNA tokens at rock-bottom prices – even though the coin is currently being delisted from most major exchanges in the country.

Jerome Powell, the chairman of the American Federal Reserve (the Fed), has suggested that the United States is in no rush to issue a central bank digital currency (CDBC), opining that the dollar’s status as the de facto world reserve currency will provide the nation with “first-mover advantage” – no matter what policies other nations roll out on digital currencies.

The third-largest cryptoasset by market capitalization, XRP, extended its losses and dropped to a two-month low after the US Securities and Exchange Commission (SEC) filed an expected action against US-based major blockchain company Ripple and two of its executives.

Bitcoin price is aiming more upsides above USD 38,500. Ethereum is consolidating above USD 2,700, XRP might face sellers near USD 0.65. Multiple smaller altcoins rallied up to 10% today.

South Korea’s five biggest crypto exchanges have vowed to create a “joint response council” to avoid a repeat of what the media and politicians in the country have labelled the “terra (LUNA) incident.”

Bitcoin price failed to clear the USD 23,200 resistance. Ethereum struggled near USD 1,250, XRP might retest the USD 0.30 support. Best performing altcoins trimmed their gains also.