Crypto Prices Today March 23, 2022: Bitcoin Continues to Rise

Crypto Prices Today March 23, 2022 Bitcoin Continues to Rise

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The prices of Bitcoin and cryptocurrencies at the top of the list are still experiencing a compact price movement strengthening, Wednesday morning (23/3/2022).

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Crypto

Based on data from Coinmarketcap, Wednesday morning, the crypto with the largest market cap, Bitcoin (BTC) was up 3.43 percent in the last 24 hours and 7.92 percent in the week.

Bitcoin

Currently, the price of bitcoin is at the level of USD 42,681.66 per coin or equivalent to Rp. 612.2 million (assuming an exchange rate of Rp. 14,345 per US dollar).

Ethereum

Ethereum (ETH) as the largest crypto is also still strengthening. In the last 24 hours, ETH was up 3.16 percent and 14.58 percent in the week. With that said, ETH is currently at USD 3,008.20 per coin.

The next cryptocurrency, Binance coin (BNB) this morning also continued to strengthen. In the last 24 hours BNB soared 2.32 percent and 9.30 percent a week. That makes BNB priced at USD 406.55 per coin.

Then Cardano (ADA) also strengthened in the last day 8.48 percent and 22.27 percent in the week. Thus, ADA is at USD 0.9826 per coin.

Meanwhile, Solana (SOL) also continued to strengthen during the past day 3.19 percent and 9.66 percent a week. Currently, the price of SOL is at the level of USD 91.91 per coin.

XRP also continues to rise, in the past day, XRP rose 0.13 percent and 9.56 percent in the week. That way, XRP is now priced at USD 0.8409 per coin.

Terra (LUNA) unfortunately had to weaken in the last 24 hours. Terra fell 2.25 percent, but is still up 5.48 percent for the week. Currently LUNA is priced at USD 93.52 per coin.

Stablecoins such as Tether (USDT) and USD coin (USDC), both are strengthening. USDT is up 0.01 percent which keeps the price at $1.00 now.

Meanwhile, USDC is up 0.01 percent in the past day which keeps the price per coin currently at USD 0.9998.

2 Weeks Outflow of Funds in the Crypto Sector, What’s Up?

Crypto Prices Today March 23, 2022 Bitcoin Continues to Rise

Previously, cryptocurrency investment products and funds showed net outflows for the second week in a row, according to a report from digital asset manager CoinShares on Monday.

This is likely due to persistent concerns about regulation and the possible impact of the Russian-Ukrainian conflict.

The crypto sector recorded a net outflow of USD 47 million or around IDR 674.3 billion in the third week of March 2022, after experiencing an outflow of USD 110 million in the previous week.

The outflow comes amid ongoing efforts to regulate crypto. President Joe Biden signed an executive order a few weeks ago requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other crypto issues.

Specifically in the largest cryptocurrency, bitcoin, there was the largest outflow of USD 33 million in the last week, the report shows, following the previous USD 70 million outflow. However, year-to-date flows remained positive, amounting to USD 63 million.

“Although Bitcoin has shrunk back a bit after hitting USD 42,000 over the weekend, it still worked as it closed the week well above USD 40,000,” said Mikkel Morch, executive director at digital asset hedge fund ARK36. March 22, 2022.

Such a decline seems healthy after significant gains over the past week and should not be viewed as a negative reaction to certain geopolitical or macro news. As long as Bitcoin stays above USD 40,000, there is a good chance it will continue to rise in price.

Meanwhile, Ethereum-based products had an outflow of USD 17 million last week, lower than the previous week, which recorded an outflow of USD 50 million.

Ethereum continues to suffer from negative investor sentiment, analysts said, with outflows this year amounting to $151 million, or 1.2 percent of total assets under management.

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