Breaking: Scaramucci Predicts Trump’s Exit from 2024 Elections! 🚨

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CoinGape Media
August 12, 2024

News

The Donald Trump interview with Elon Musk would have discussions on a wide range of topics including crypto and the looming US recession.

As everyone remains excited about the most-awaited interview between Elon Musk and Donald Trump, the billionaire is doing the final stress test of its X platform on Sunday night. This shows that Musk is expecting a huge activity surge during the interview time on Monday, by 8 pm EST on X Spaces. Musk has already stated that this would be an absolutely unfiltered interview with no bar on the subject matter.

Crypto firm Marathon Digital announced plans to buy Bitcoin through offering $250 million of convertible senior notes to qualified institutional investors.

Marathon Digital has announced plans to offer $250 million aggregate amount worth of convertible senior notes. The company intends to use the new raise to fund more Bitcoin (BTC) acquisition plans and general corporate purposes. This year, firms continue to add Bitcoin to their balance sheet for several reasons.

Binance executive Tigran Gambaryan's family urged the Nigerian government to release him as his health worsened in detention without legal access.

The family of Tigran Gambaryan, an U.S. citizen and executive at Binance, is urgently calling on the Nigerian government to release him from detention. They have sounded alarm rapidly deteriorating health conditions. Gambaryan has been held in Kuje Prison since February 26. At the time, he was taken into custody after a meeting with Nigerian authorities in Abuja.

Markets

BTC plummets to $58K amid weekly outflows in spot Bitcoin ETFs. Altcoins crack up to 12% aligning with the broader trend. However, Sui price gains.

The crypto prices today have embarked upon a considerable bearish movement, sparking investor concerns globally. Bitcoin’s (BTC) price showed signs of a pullback, falling to the $58K level. Simultaneously, altcoins have followed the flagship crypto, cracking 4-12% over the past day. However, Sui defied the broader trend to trade in the green zone.

Meanwhile, the global crypto market cap witnessed a 4.10% decline in value to $2.05 trillion. However, the total crypto market volume saw a significant 55.86% spike to $59.58 billion at press time.

Here’s a brief collection of some of the leading cryptocurrencies by market cap and their price movements today, August 12.

The Hindenburg report targeting India's Adani Group had little effect on Indian stocks, while a surge in Asian stocks has boosted optimism.

Following the Hindenburg report over the last weekend, the Indian market saw some volatility with major selling pressure in the early trading hours. The report alleged a conflict of interest with SEBI chair Madhabi Puri Buch in offshore entities and the use of funds by the Adani Group of companies. The Indian market ended Monday’s trading on a flat note with Asian stocks seeing some rally. However, the crypto market is seeing some strong selling pressure and all eyes would be on the US market opening today.

​​Bitcoin (BTC) price slipped below $60,000 ahead of the release of US PPI and CPI data, while Ethereum (ETH) price and Ripple (XRP) price emerged stronger from the weekend.

Bitcoin (BTC) price commenced the week with a minor dip below $58,000, raising concerns about its future performance. On the other hand, Ethereum (ETH) price climbed higher, ready to tackle the next key resistance alongside Ripple (XRP) price bullish outlook.