Bitcoin Dip: Take Advantage of the Temporary Drop

As of February 11th, Bitcoin, which is the cryptocurrency with the largest market capitalization, saw a rise of 0.67% and was trading at $21,865.01. Meanwhile, Ethereum had a major drop of 0.12% and was trading at approximately $1,535.68.

At the beginning of February, the primary cryptocurrency, bitcoin, experienced a surge, reaching a high of $24,200 following the latest interest rate hike by the US Federal Reserve. However, this was short-lived, and the asset soon dropped to around $23,000.

Later in the week, the situation worsened as the US SEC stepped up its regulation of crypto staking. As experts continue to speculate on the impact of these regulations on the market, bitcoin's value plummeted, falling below $22,000 and reaching a low of under $21,500, its lowest point since January 20. Currently, the cryptocurrency is trading just above this mark, with a market cap of under $420 billion, and its dominance over other digital assets remains at 41.4%.

Crypto News

Shopify, the popular e-commerce platform, has announced the launch of a suite of blockchain commerce tools for its merchants. This suite of tools is aimed at making it easier for merchants to take advantage of the many benefits of blockchain technology.

Blockchain technology has been around for over a decade, and its popularity has grown significantly in recent years. This is due to the many benefits it offers, including increased security, greater transparency, and reduced costs. Shopify’s new suite of blockchain commerce tools is designed to help merchants take advantage of these benefits and stay ahead of the curve in the rapidly evolving world of e-commerce.

The first tool in the suite is the Shopify Blockchain API. This API is designed to make it easy for merchants to integrate blockchain technology into their existing e-commerce systems. The API provides a range of functionalities that allow merchants to securely and transparently manage their transactions, inventory, and customer data on the blockchain. This will provide merchants with greater control over their data and help them to build stronger relationships with their customers.

Major cryptocurrencies are trading as follows as of 9 am IST, 12 February 2023 :

Bitcoin: $$21,955.87

+0.81%

Ethereum: $1,549.60
+0.87%

Tether: $1.02
+0.00%

USD Coin: $1.00
+0.00%

BNB:$311.52
+0.04%

XRP:$0.3865
-0.26%

Dogecoin:$0.08328
-0.35%

Cardano: $0.3712
+1.59%

Polygon: $1.26
-0.35%

Polkadot: $6.32
+0.42%

Tron: $0.06371
-0.47%