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Barclays Invests In Crypto Firm Copper

Barclays Investment In Crypto Firm Copper Amid Bearish Trends Is Notable

Recent reports suggest that Banking sector giant, Barclays is considering making an investment in Copper, a cryptocurrency custody firm. The Barclays investment in crypto amid the bleeding crypto market trends is surely notable. This move is also expected to induce price changes in the market as most of the crypto participants are trying to withdraw their money, whereas this ban sector behemoth has decided to go in the reverse direction.

On Sunday, Sky News reported that the UK-based bank is one of the several other investors who are collaborating in Copper funding. The bank is set to invest an unknown sum of money, which is expected to be in the range of millions of dollars. The fundraising campaign and its requisites will be finalized within a few days.

This fundraising would complete the Copper Series C round of funding worth $500 million, which it had started with an aim to raise enough funds to acquire a valuation of $3 billion. However, that target cannot be met currently as the ‘crypto winter’ wiped off the company’s valuation and it now stands at $2 billion.

Crypto Crash Today

The major coins that lost significant value today in the crypto crash session have been listed below.

  • Bitcoin (BTC): The crypto giant lost 3.16% and traded at $22,021.81 at the time of writing on Monday, July 25, 2022. The market valuation of the BTC token stood at $420.67 billion, down by 3.13%. However, the 24-hour trade volume gained significantly by 11.64% and was at $28.98 billion. Earlier last week, it was below the $23,000 mark and is following the trend currently.
  • Ethereum (ETH): The second-largest digital currency dipped by 4.75% and traded at $1,540.70 at press time on Monday, July 25, 2022. The market capitalization of the ETH crypto stood at $185.48 billion, declining by 4.76%. In contrast, the 24-hour trade volume rose by 16.66% and was at $18.9 billion.
  • Cardano (ADA): Another popular crypto investment token, saw a drop of 7.03% and traded at $0.4958 at the time of reporting on Monday, July 25, 2022. The market valuation of the ADA crypto stood at $16.78 billion, losing a 6.69% value. Moreover, the 24-hour trade volume decreased significantly by 26.85% and was at $749.86 million.
  • Solana (SOL): The SOL token with a rank of 9 at CoinMarketCap saw its price slump by 5.63% and traded at $38.91 at the time of drafting on Monday, July 25, 2022. The market valuation of the SOL coin stood at $13.46 billion, dropping by 5.58% in value. However, the 24-hour trade volume gained slightly by 5.23% and was at $1.26  billion.
  • Dogecoin (DOGE): The King of Meme Coins lost 4.90% and traded at $0.06533 at press time on Monday, July 25, 2022. The market capitalization of the DOGE token stood at $8.66 billion, declining by 4.94% in value. But the 24-hour trade volume for DOGE rose slightly by 2.19% and was at $415.81  million.

The Barclays investment in crypto along with other participants amid such a bearish trend was unexpected. However, it will be intriguing to see how it becomes a reality and harnesses the unseen potential of the digital currency domain.

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