Crypto Markets Shaken: XRP Fake Listings and Excessive Optimism Warning"
Quoted from Jakarta-CNBC Indonesia, the crypto market experienced a decline in the last 24 hours after confirmation of fake registration of XRP products. This depreciation affects various altcoins, including bitcoin.
According to CoinMarketCap on Tuesday (11/14/2023) at 06.43 WIB, the majority of the crypto market experienced weakness. Bitcoin fell 1.28% to US$36,526.29 with a weekly gain of 4.27%.
Ethereum has risen 0.92% in 24 hours and 8.57% in the last seven days. Solana slumped 6.44% daily, although the weekly gain still stood at 25.21%. Cardano is also in negative territory, down 5.83% in 24 hours and 1.13% weekly.
CoinDesk Market Index (CMI) fell 1.39% to 1,522.23, while open interest depreciated 1.42% to US$33.77 billion.
The Fear & Greed Index from coinmarketcap.com shows the number 77, indicating the market is in a greed/optimistic phase considering the current economic conditions and crypto industry.
Fake news regarding the iShares XRP Trust registration resulted in a sharp decline in the altcoin on Monday (11/13/2023). XRP briefly surged 10% when fake documents were published, similar to a legitimate filing by BlackRock for a spot bitcoin and ether ETF.
The already weak crypto market was further shaken by fake news, with SOL, the leader of the altcoin rally, experiencing a significant crash in the last 24 hours. JPMorgan analyst and IntoTheBlock head of research warns against excessive optimism in the crypto market.
