In today’s headline news, the mining difficulty for Litecoin has skyrocketed, reaching a new value of 26 million at blocks 2 million. This is similar to the situation with Bitcoin. Analysts are predicting a bull run for Litecoin and other cryptocurrencies due to the potential approval of some Bitcoin Exchange-Traded Fund applications. However, the hazy status of Ether is inhibiting its rally. Regulatory uncertainty in the US surrounding Ether has caused its performance to suffer compared to Bitcoin, as there is ambiguity regarding whether the US SEC will classify Ether as an unregistered security.
In other news, the FTX bankruptcy team has reported that the failed exchange owes its customers $8.7 billion. The company commingled and misused customer deposits, and senior executives began hiding these issues as early as August 2022.
In terms of cryptocurrency prices, Bitcoin dropped 0.9% against the Dollar in the last session, while Ethereum-Dollar plummeted 2.3% and Ripple-Dollar dove 2.6%. Litecoin-Dollar also saw a decline of 1.3%.
The daily economic calendar includes the release of US Durable Goods Orders, US Nondefense Capital Goods Orders, and US Consumer Confidence. Additionally, Finland’s Consumer Confidence and Industrial Confidence, as well as Italy’s Business Confidence, will be released at specific times. These indicators provide insights into the level of confidence in economic activity.
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