- Altcoins like WLD, stETH, OM, and MKR saw notable exchange transfers, indicating potential liquidity shifts and market sentiment changes.
- Fed Chair Jerome Powell confirmed banks can serve crypto clients if they manage risks, easing concerns over regulatory crackdowns on crypto banking.
- OM surged 23.67% after a breakout, while MKR and RSR declined sharply; WLD remains stable, and MOVE shows signs of potential recovery.
Crypto markets are experiencing substantial shifts, with several altcoins moving to exchanges within the last 24 hours. Worldcoin (WLD), Staked Ethereum (stETH), Mantra (OM), Reserve Rights (RSR), Maker (MKR), and Movement (MOVE) have had notable transfers, indicating possible shifts in market sentiment.
Meanwhile, the Federal Reserve has maintained its interest rate pause, influencing broader market trends. Fed Chair Jerome Powell stated that banks can engage with crypto customers if they understand and manage the risks.
Altcoin Transfers to Exchanges
Worldcoin saw 0.21% of its supply move to Bybit, while Staked Ethereum had 0.20% transferred to the same platform. Mantra and Reserve Rights had movements of 0.20% and 0.14%, respectively, to Binance.
Maker saw 0.12% shift to Coinbase, and Movement had 0.08% sent to KuCoin. These transfers suggest increased liquidity for these assets, which could impact price movements and market activity.
Powell’s Comments on Crypto and Banking
Federal Reserve Chair Jerome Powell addressed the interaction between traditional banking and the crypto industry. He reaffirmed that banks can serve crypto clients, provided they assess and mitigate associated risks.
Powell clarified that the Federal Reserve is not against innovation and does not intend to force banks to terminate relationships with legally operating crypto customers. His remarks come amid increasing speculation about potential regulatory changes under President Donald Trump’s administration.
Altcoin Price Performance and Market Trends
Worldcoin is trading at $1.780, with a decline of 21.72% and a trading volume of 261.99K. Mantra leads the market with a 23.67% increase, while Reserve Rights and Maker have faced declines of 11.48% and 26.74%, respectively. Movement is also down 9.52%.
Market trends show OM’s strong upward movement, which spiked on the 23rd before consolidating. MKR and RSR are in a downward trend, struggling to recover. MOVE is to be stabilizing, potentially setting up for a rebound.
WLD has shown relative stability, trading sideways with minor fluctuations. These movements indicate shifting market sentiments, influenced by liquidity changes and broader regulatory discussions.