By using the daily transaction fees and staking rewards generated by Ethereum, the benchmark incorporates pricing mechanisms that institutional investors typically rely on, thus bringing enhanced pricing capabilities to the realm of digital assets.
In just one hour, the CoinDesk Market Index (CMI), which monitors the overall performance of the cryptocurrency market, suffered a significant 5.6% decline.
Cryptocurrency Market Update for April 26, 2023
Certain investors attribute the 4.9% increase in total market capitalization over the past 24 hours to the expectation of the Fed easing.
ALSO: CoinDesk reporters Pete Pachal and Daniel Kuhn have provided a preview of the key topics that will be discussed at the Consensus 2023 conference, set to commence on Wednesday in Austin, Texas.
According to an analyst, the recent price decline of BTC can be viewed as a
According to cryptocurrency analysts, the surge in ETH staking can be largely attributed to deposits from institutional staking platforms and the reinvestment of rewards.
Putting Today's Crypto Market Price Changes into Perspective: April 24, 2023
According to preliminary data, the major staking platforms catering to institutional investors have reported a three-fold increase in new deposits compared to the previous month.
Bitcoin’s dominance may have peaked, signaling that altcoins may be set to outperform, one observer said.