Bitcoin and other major non-stablecoin cryptocurrencies maintained stability in the Asian market on Monday. Despite cautious investor sentiment, JPMorgan Chase & Co. analysts noted a deceleration in downward price momentum. Meanwhile, X, formerly known as Twitter, unveiled its ‘XHiring’ feature allowing Verified Organizations to post job listings on their handles. JPMorgan’s report also predicted “limited downside” for the crypto market as losses slow, citing fewer unsettled Bitcoin-linked futures contracts as an indicator.
Bitcoin saw a minor gain of 0.08% over the past 24 hours, reaching around $26,050.62. Ethereum recorded a 0.35% increase to $1,653.79. However, both tokens experienced losses over the past week due to macroeconomic factors and market uncertainty.
The Forkast 500 NFT Index rose following the arrest of Donald Trump, resulting in increased sales of his signature NFT collection. US equity futures rose despite Federal Reserve Chair Jerome Powell’s speech indicating the potential for higher interest rates.
X’s transformation into a revamped version of PayPal continues to be speculated. The move could affect the crypto market, but regulatory uncertainties and current market conditions may temper its impact. In the midst of these developments, XHiring allows organizations to feature job listings on their X profiles, contributing to the platform’s evolution.
Additionally, the surge in sales of Trump’s NFT collection after his mugshot release showcases the influence of political events on the NFT market. The digital collection, launched in December, includes perks like a group Zoom call with the former president. Amidst market fluctuations, the future of cryptocurrencies remains intertwined with global events and economic conditions.