By Jay Hao, CEO of OKX.com
The global crypto market cap stands at $1.95 trillion, a 1.85% increase over the last day. Bitcoin BTC/USD price has received good support above $40,000 but could face resistance at $46000. With the Russia-Ukraine conflict showing no signs of cooling off, crypto assets will remain in the trading range for some time. Altcoins have shown a healthy price surge with ADA/USD and DOGE/USD jumping 8% and 3% respectively. The rise of Altcoins indicates towards higher risk appetite among investors, LRC (the native token of Ethereum scaling network Loopring) is the newsmaker of the day with a 34% jump in its prices after it announced the partnership with Gamestop for the NFT marketplace. The markets are expected to remain choppy due to growing geopolitical tension and hawkish stance by Fed on interest rate hike.
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