Barring the dollar-pegged USD Coin and Cardano, all other eight out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Cardano jumped 3 per cent to become the fourth largest digital token by market cap.
The global crypto market cap fell about 2 per cent, to $2.89 trillion mark compared to the last day. However, the total crypto market volume jumped over 7 per cent to $136.28 billion.
Inflows into Bitcoin products and funds have hit a record $6.4 billion so far this year, data from digital asset manager CoinShares showed, as investors bought the cryptocurrency on more widespread government acceptance and positive momentum.
Tech View by ZebPay Trade Desk
Basic Attention Token, or BAT, powers a new blockchain-based digital advertising platform, Brave Browser. It has been designed to fairly reward users for their attention while providing advertisers with a better return on their ad spend.
Following Monday’s announcement that the Brave browser will integrate itself with Solana, the native token BAT surged more than 25%. Together the teams will bring wallet features for Solana blockchain into Brave’s Web2 desktop and mobile browsers.
BAT, after consolidating between $0.6 to $0.75, gave a massive breakout and made a high of $1.146. The asset faced stiff resistance around $1.5 and corrected 34% from its recent high and then again started consolidating.
BAT gave another breakout above the range but was unable to breach the resistance 0f $1.5 on the second attempt and witnessed profit booking at higher levels. Currently, the asset is trading at the crucial support level of $1.15, if it holds and sustains above the support then the bulls may resume the up move.
Support: $1.150, $0.940
Resistance: $1.150, $1.165
(Time is in UTC and the daily time frame is 12:00 AM – 12:00 PM UTC)
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