Crypto news daily: Bitcoin data and price analysis for July 6, 2022
- Bitcoin is currently trading at $20,154.05, up by 1.33%
- The Bitcoin fear and greed index on June 6, went to the extreme fear level of 18
- Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy in New York
Bitcoin prices fell marginally and traded above the $20,000 mark on Wednesday, July 6, 2022. Following a small rebound, the crypto market was back in the red during the early trading hours. Bitcoin again breached the $20,000 level, denting the sentiments for other crypto assets. The flow of bad crypto news was slower than it has been most days over the past six weeks. However, the gloom and fear in the crypto industry persist. The digital token is down over 56% so far this year, and trading over 70% below its record high of $69,000 it had hit in November 2021.
Cryptocurrencies have struggled this year amid Federal Reserve rate hikes and stubbornly high inflation. After crypto’s last two-year winter ended in 2020, the sector spiked to around $3 trillion in total assets last November, before slumping to less than $1 trillion. The collapse of the Terra/Luna ecosystem and the continued concern about the hedge fund Three Arrows Capital Ltd further rattled investors.
The global cryptocurrency market cap was at $904.87 billion, down 0.67% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $67.33 billion.
The Bitcoin fear and greed index on Wednesday, June 6, 2022, went from the extreme fear level of 19 to the level of 18 as per the alternative. me. The Fear and Greed index is a technique for assessing investors' emotions toward the market.
Bitcoin is currently trading at $20,154.05, up by 1.33%. In the last 24 hours, the highest it touched was $20,635.47 and the lowest was $19,341.23. Bitcoin has a current market cap of $384,574,809,657. It has a circulating supply of 19,086,375.00. BTC coins have a maximum supply of 21,000,000 coins.
Crypto lender Voyager Digital seeks bankruptcy protection
Crypto lending platform Voyager Digital has filed for Chapter 11 bankruptcy in New York, proposing a reorganization plan days after it suspended trading, deposits, and withdrawals. According to the petition filed by Voyager Digital, the company has over $110 million in cash and its crypto assets on hand, which will provide liquidity to support day-to-day operations during the Chapter 11 process. Additionally, it has been over $350 million in cash in an account at the Metropolitan Commercial Bank for the benefit of customers. Voyager has $1.3 billion of crypto assets on its platform and claims against Three Arrows Capital (3AC) of more than $650 million.
Crypto lender Nexo plans to acquire rival lender Vauld
Cryptocurrency lender Nexo announced plans to acquire fellow lender Vauld, the latest sign of consolidation in the digital currency industry as prices tumble. New Jersey-based Nexo said it would buy up to 100% of Vauld and "reorganize its future operations to accelerate its deeper presence in Asia." It did not say when the deal would close. Vauld, which is based in Singapore said that it had suspended withdrawals for its more than 800,000 customers. Nexo aims to "provide immediate assistance and alleviate withdrawal limitations put in place on Vauld's platform," the statement said.