Investing.com– Bitcoin price was unchanged on Friday as traders remained largely averse to crypto markets even as soft U.S. labor data pulled down the dollar and reinforced bets on eventual interest rate cuts this year. 

Fears of more regulatory action against crypto were a key weight on prices this week, amid reports of more moves by the U.S. Securities and Exchange Commission against major players in crypto. The shutdown of a popular privacy coin trading platform also rattled sentiment. 

This kept trading up 2% over the past 24 hours at $62,745.3 by 01:24 ET (05:24 GMT). An overnight drop in the dollar, following soft labor data, afforded some strength to Bitcoin. 

Sustained outflows from crypto investment products- particularly spot Bitcoin exchange-traded funds- also weighed on the token over the past three weeks. 

Bitcoin price unchanged over the past 7 days

The world’s largest cryptocurrency was largely unchanged over the past seven days, and remained comfortably in a trading range established since its fall from record highs in early-March.

The token had fallen as far as $57k last week, entering a technical bear market from its March highs.

While Bitcoin had since recovered from those lows, any further gains in the currency were largely stymied by concerns over more regulatory scrutiny against crypto.

The shutdown of LocalMonero- a popular platform for peer-to-peer trades of the Monero privacy coin- rattled sentiment.

The SEC this week postponed the planned public listing of crypto wallet operator Exodus Movement on the New York Stock Exchange. 

This came as trading app Robinhood Markets Inc (NASDAQ:) said it was facing potential regulatory action from the SEC over crypto tokens traded on its platform. 

The SEC was also seen postponing a decision on spot Ethereum ETFs to June, and is then expected to reject applications for the offering given that it is also reportedly pursuing an investigation of whether the world no.2 token is a security. 

The regulator has similar cases against exchange Coinbase Global Inc (NASDAQ:) and issuer Ripple. 

Crypto price today: altcoins see slim movements with US CPI on tap

Broader crypto prices were also muted as anticipation of more cues on U.S. interest rates, from key inflation data due next week, limited any major trades. 

rose 0.8%, while fell 0.7%. Both tokens were trading down for the week.

was an outperformer, rising over 5% on Friday and staying on track for mild weekly gains. 

While weak data spurred some optimism over eventual interest rate cuts by the Federal Reserve, the central bank is still only expected to do so by September- a trend that is set to pressure crypto markets in the near-term.

Top 5 Cryptos This Week: BlockDAG’s Detailed Roadmap Outshine Helium, Ethena, Sei, & Monero

In the midst of a recent market downturn, where many cryptocurrencies have lost value, a few have shown resilience and registered significant gains against the U.S. dollar according to market charts. BlockDAG has emerged prominently in the presale arena, claiming a spot in the top five cryptocurrency winners this week alongside Helium, Ethena, Sei, and Monero.

BlockDAG’s rapid ascent is powered by notable achievements and a freshly updated roadmap from its initial development stages to coin vesting and tokenomics. A notable sale of over 8.7 million coins during its 10th presale batch led experts to forecast an impressive 30,000-fold potential ROI.

Helium’s Rise: Potential Future Prices

Helium (HNT) has recently seen a 17% increase, touching a price of $5.575 and marking a 44% weekly growth from $3.98 to about $5.57. CoinMarketCap reports a trading price close to $5.70 with a market capitalization of $920 million and a trading volume spike of 225% to $69 million.

The charts suggest a bullish trend for Helium, potentially driving its price further up. Continued buyer interest could reach $8.0 or even $10. However, it could decrease to lower support levels if it fails to hold the $3.50 support level.

Ethena: A Strong Buy in a Volatile Market

Despite an 18% drop due to market fluctuations, Ethena (ENA) has bounced back with a 20% increase since its launch. This rise is fueled by its growing adoption and partnerships with key wallet providers such as OKX and Bitget. Currently priced at $0.88, analysts are optimistic about its potential to climb to $3.91 by 2024.

Sei Coin: Market Fluctuations and Future Prospects

Sei coin has shown volatility, oscillating between $0.53 and $0.67, with a 4.79% rise last week despite a 25.56% drop over the month. Over six months, it has surged by 451.89%. The current price suggests mixed trends.

A rise to $0.75 could indicate further gains, potentially reaching $0.88, while a fall to $0.47 might lead to a decrease to $0.33. Stability indicators like short-term averages around $0.61 and an RSI of 57 suggest a balance between overselling and overbuying.

Monero: Stability and Privacy Amidst Market Turmoil

Monero (XMR) continues to show strong market resilience, focusing on secure and private transactions. Despite general market declines, it has gained 0.62% last week. Its trading volume has increased by 7.91%. Forecasters remain bullish, anticipating a rise to $270 by 2024.

BlockDAG’s Accelerated Mainnet Launch: Detailed Roadmap Out

BlockDAG stands out as a Layer 1 blockchain that utilizes a Proof of Work consensus mechanism to merge the best features of blockchain and DAG architectures. Recently, BlockDAG has sparked excitement in the cryptocurrency community by revealing an accelerated mainnet launch in its updated roadmap, advanced by four months due to swift progress.

The development process for the X1 miner application is meticulously outlined, starting with wireframe and UI design to create a user-friendly interface. This is followed by user onboarding, streamlining the account setup and initial configuration.

The roadmap concludes with a Community Section, which focuses on developing features to boost user interaction and provide support within the app, underscoring BlockDAG’s commitment to user experience and community engagement.

Key Takeaway

Reviewing the week’s leading cryptocurrency gainers, each coin demonstrates the potential for substantial returns. BlockDAG, however, sets itself apart with unique features outlined in its detailed development roadmap, promoting fast, scalable, and secure transactions, and enabling mobile mining via the X1 app. With a successful presale crypto coin that raised $23.9 million by its 10th batch, experts foresee a significant 30,000-fold return on investment.

Join BlockDAG Presale Now:

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

OTTAWA –

The federal anti-money laundering agency has issued a $6-million fine to cryptocurrency exchange company Binance Holdings Ltd.

Fintrac says Binance failed to register with the agency as a foreign money services business.

It also says the company failed to report large virtual currency transactions of $10,000 or more in the course of a single transaction, together with the prescribed information.

Fintrac chief executive Sarah Paquet says the agency will continue to work with businesses to help them understand and comply with their obligations.

Binance announced last year that it would withdraw from the Canadian market, citing regulatory concerns.

In November, the company agreed to pay a roughly US$4-billion settlement in the U.S. after breaking U.S. anti-money laundering and sanction laws.