Bitcoin and Ethereum trade sideways while ApeCoin goes bullish on Gucci announcement

The crypto markets opened fairly flat across the board today, adding 1.3% to bring total market capitalisation up to US$1.08tn. Bitcoin edged slightly over the US$23,000 line, while Ethereum stayed close to US$1,650.

Timeline of Apecoin-ape, Bitcoin, Ethereum

Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone's monetary authority also claims stablecoins, among other options, are “problematic.

Bitcoin price currently appears to have to withstand the upward pressure to a large extent as the price hovers close to the recent highs. After undergoing a steep descending trend for nearly 6 days, the asset attempts to stabalize an upward trajectory without much involvement from bears.

Bitcoin (CRYPTO: BTC), the world's oldest cryptocurrency, recorded losses on Thursday, but it still managed to remain above the $23,000 level. However, Ethereum (CRYPTO: ETH), the second-most valued cryptocurrency, continued its bull run with the crypto staying above the $1,600 mark for the second day in a row.

The upcoming Ethereum merge to change the consensus layer from proof-of-work to proof-of-stake is likely to be a critical factor in accelerating Ethereum's ascent to institutional-grade investment The post Ethereum Merge May Help Attract Institutional Adoption appeared first on BeInCrypto.

Galoy believes that allowing dollars to flow through Bitcoin will assist in addressing short-term volatility price risk. Volatility is one of the biggest challenges hindering growth of Bitcoin as a means for casual payments.

People have been feeling the heat of falling prices throughout 2022. Even after the recent rebound, exchange balances have been rising while the top non-exchange balance continues to decrease.

Aaron Schnarch, Vp of Product, Custody at Coinbase (NASDAQ:COIN), explains that Coinbase Prime provides institutions “with an end-to-end staking experience.” Clients can “create a wallet, decide how much to stake, and initiate staking from the ETH asset page on their Coinbase Prime account.

Bitcoin and Ethereum traded higher on Wednesday evening as the global cryptocurrency market cap rose 1.8% to $1.07 trillion at press time. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) 1.4% 1.5% $23.083.98 Ethereum (CRYPTO: ETH) 3.1% 2.3% $1.647.73 Dogecoin (CRYPTO: DOGE) 2.2% 1.4% $0.07 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Optimism (OP) +33% $2.07 Lido DAO (LDO) +26.8% $2.76 Uniswap (UNI) +13.5% ​​$0.0025 See Also: How To Get Free Crypto Why It Matters: Following a strong performance on Wednesday, risk assets held firm towards the evening.

A major non-exchange Ethereum ($ETH) whale has accumulated several altcoins in a massive buying spree that saw it add to its positions on the cryptocurrency's blockchain and saw the value of their account rise by more than $400 million.

The flagship cryptocurrency Bitcoin ($BTC) has flashed a rare bottom signal for only the fourth time in its existence, suggesting the bear market may soon be over and that BTC's price could soon start recovering after at one point being down 74% from its peak.