After yesterday’s carnage, Bitcoin dropped some more and dropped to a few months low. Most altcoins are in a similar position, with Terra losing the most on a daily scale. In contrast, TRON, Algorand, and Monero posted impressive gains. Meanwhile, there will be significant developments for many altcoin projects. Here’s what will happen today…
Important developments in these 10 altcoin projects
- Luffy (LUFFY) will hold the pre-launch party. The party will be held in Tokyo to celebrate its first international partnership.
- KRYZA Network (KRN) is launching its KRS pre-sale today. The sales process will end on May 14, 2022.
- MEXC Global listed Hedera (HBAR) at 11 CET with USDT pair. Staking will also be operational in the stock market.
- MEXC Global will list RAI Finance (SOFI) with USDT pair at CET 13.
- LBank lists WeWay (WWY) with USDT pair.
- Kommunitas (KOM) is holding its DecentraWorld IKO at 12 pm.
- KuCoin lists Gamium (GMM) in USDT pair at TSI 14.
- MEXC Global lists Planet Finance (AQUA) with USDT pair. The listing will take place at 15:00 CET and staking will also be open.
- KuCoin lists Akash Network (AKT) at 11 CET with USDT pair.
- Exbitron lists GemLink (GLINK) with USDT and Bitcoin (BTC) pairs.
What is the latest situation in the market?
We can say that Bitcoin has seen better days. As we reported on cryptokoin.com, the cryptocurrency surged to $40,000 earlier this week after the last FOMC meeting where the Fed said it would raise interest rates by 50 basis points. After failing at $40,000, BTC pulled back slightly but remained close to that level over the next 24 hours. However, this is where the situation gets worse. In just a few hours, Bitcoin dropped more than $4,000 and dropped to a 10-week low of $35,600.
Initially rebounded and regained around $1,000, but the bears continued their momentum and pushed it down once again. Thus, BTC registered a month low, rather than $35,300. As of now, the asset is trading under $36,000 and its market cap is well below $700 billion.
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