Crypto exchange KuCoin will devote part of its recent $150 million raise to expand technical features and support developers building on KCC, a public blockchain, the firm told CoinDesk. shauryamalwa and JPRubin23 report
As improvement goes, bitcoin didn't have much about which to crow on Thursday. The largest cryptocurrency was still struggling to remain above $30,000, and well off where it was trading as little as two weeks ago.
Bitcoin was recently changing hands at around $30,200, up more than 4.4% over the past 24 hours. The increase outperformed ether, which rose a little more than 3.5% during the same period, and other cryptos, most of which also registered smaller gains as investors continued to prefer the best-known digital asset over smaller, riskier ones. XRP, SOL, ADA and MATIC rose less than a percentage point. AVAX was among the losers, recently dropping more than 3%.
Equity markets? They fared a little worse than cryptos but improved on their previous day's bloodbath. The S&P 500 fell by less than a percentage point after finishing Wednesday with its largest percentage decline since June 2020. The index's 18% tumble from its most recent high remains perilously close to the 20% drop that merits bear market designation. The tech-heavy Nasdaq, which reached bear market status earlier this year, fell slightly on Thursday.
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