What Is Going On with Crypto Today?

Monicah W

What Is Going On with Crypto Today?

The post What Is Going On with Crypto Today? appeared first on Coinpedia Fintech News

The crypto market today is dominated by bears, as the sentiments tremble in view of the Non-Farm Payrolls (NFP) report cautioning about the FED being hawkish. And the worsening liquidations, which have crossed $600 Million. This has had a direct impact on the numbers of the crypto business, the market capitalisation has slipped by 4.09% to $2.71 trillion. Coming to “Fear & Greed Index,” the metric signals an “Extreme Fear” score of 17. However, traders did buy the dip, which helped the volumes to zoom over 94% to $101.31 billion. 

Bitcoin Price Drops to $82k Amid Pressure?

The U.S. government giving a nod to Bitcoin reserve, did little to help BTC stand against the rough winds, as Bitcoin still saw liquidations amounting to $239.92 million. BTC price currently is at $82,506.72, with a change of -4.03% since yesterday. Its market cap went south by 4.03% to $1.63 trillion. 

Check out our in-depth Bitcoin (BTC) Price Prediction 2025, 2026-2030 for potential price targets!

Altcoins Fall as Liquidations Rise?

The altcoin market has not performed any better. Ethereum witnessed $108.01 million in liquidations, while XRP and Solana followed with $30.56 million and $26.46 million, respectively. Ethereum with a price drop of over 5%, is trading at $2066.30, while Solana dipped by more than 7% to $128.28. And XRP trades at $2.19 with a change of -5.61%. 

For more details on XRP’s outlook, visit our Ripple (XRP) Price Prediction 2025, 2026-2030.

Top Gainers & Losers

While the broader market bleeds, a few tokens managed to post gains. Story IP took the limelight with a 9.61% price surge. Ethena followed with a 5.11% rise, while XAUt held steady with a slight uptick of 0.01%.

On the losing end, JASMY, KAS, and Maker led the losses, with JASMY plummeting by 13.66%, KAS down 12.41%, and MKR slipping 11.75%.

FAQs

How much does 1 Bitcoin cost today?

The price of 1 Bitcoin at the time of writing is $82,506.72.

Which tokens have gained the most today?

Story IP (+9.61%), Ethena (ENA) (+5.11%), and XAUt (+0.01%) are the top gainers.

What’s the current crypto market sentiment?

The Fear & Greed Index is at 17, indicating Extreme Fear in the market.

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Citigroup Predicts Stablecoin Market to Reach $3.7 Trillion By 2030

A recent study from the Citi Institute, Citigroup’s research organization, claims that the global stablecoin market could reach as high as $3.7 trillion by 2030. This was its most bullish estimate, but the base case was $1.5 trillion.

It acknowledged a few risks that could lead to a bearish scenario of $0.5 trillion, but the report largely remained optimistic. In any event, this sector could tremendously impact global markets.

Citigroup Is Extremely Bullish on Stablecoins

Citigroup’s researchers had one clear reason to be optimistic about stablecoins: friendly regulation worldwide. The Citi Institute’s report was titled “Digital Dollars.” It called special attention to stablecoins’ growing integration with the US dollar. This could serve as the motor for long-term growth:

“Government adoption of blockchain falls into two categories: enabling new financial instruments and system modernization. Stablecoins are now major holders of US Treasuries, starting to influence global financial flows. Their growing adoption reflects sustained demand for US dollar-denominated assets,” claimed Artem Korenyuk, a managing director at Citi.

The organization was particularly interested in mandates that stablecoin issuers hold reserves of US Treasuries. It predicts that non-USD stablecoins, including CBDCs, will ultimately exist on the margins, with 90% of the stablecoin market sticking to the dollar.

These reserve mandates would, therefore, cause the issuers to become major holders of Treasury bonds.

Potential Stablecoin Treasury Holdings Citigroup
Potential Stablecoin Treasury Holdings. Source: Citigroup

By doing this, regulators will compel stablecoin issuers to substantially change their internal policies. Citigroup predicts that this could better integrate stablecoins with the TradFi ecosystem.

Although stablecoins “pose some threat to traditional banking” for several reasons, these regulations will encourage a cooperative model instead. Public sector blockchain spending will also help this dynamic.

Still, Citigroup acknowledged significant risks in this rosy picture of stablecoins. Although its most bullish estimate is a $3.7 trillion global sector by 2030, its bearish outcome is only half a trillion.

That’s a very significant spread. The largest risks include fraud, contagion from de-pegging events, and confidentiality concerns.

It’s important to remember, however, that Citigroup has a surprisingly long history with crypto. It first considered entering the sector four years ago and continually publishes novel research on the market.

The post Citigroup Predicts Stablecoin Market to Reach $3.7 Trillion By 2030 appeared first on BeInCrypto.