Ethereum controls $1,900, Bitcoin Cash falls 5%, while Bitcoin retains $30,000
While Ethereum lost more than a percent but just held onto the $1,900 barrier, Bitcoin dropped roughly 1% but still managed to maintain the $30,000 milestone. As the positive news following Ripple's partial victory against the SEC in a court ruling calmed down, Bitcoin and other crypto tokens went back to losing on Tuesday. Until the SEC determines whether to approve one of the numerous spot bitcoin ETF proposals, tokens may continue to slide below this level. The biggest cryptocurrency token fell by around 1%, sending Bitcoin back into negative territory, although it still managed to hold the $30,000 barrier. Ethereum, its biggest rival, fell more than 1% but only just managed to stay above $1,900. The price of the active altcoins was mainly declining. The on-chain data shows that investors are currently in a phase of re-accumulation, and Bitcoin began the new week retaining its position above $30,000 in value. This feeling suggests a forthcoming large market shift, while its exact course is still unknown. Due in large part to the recent judge's judgement that ruled Ripple's sales of XRP on public trading platforms did not constitute the sale of securities, the volume of cryptocurrency trading across spot exchanges has seen a noticeable increase. The spot trade volume seven-day moving average increased to $16.56 billion. The majority of the main cryptocurrency tokens on Tuesday were trading lower, although the movement was restrained. Top among the losers was Bitcoin Cash, which fell by nearly 5%, while Cardano fell by 3%. Litecoin fell by approximately a percent for the day while XRP lost 2%. The market capitalization of all cryptocurrencies was trading slightly lower, falling to the $1.21 trillion mark, as it fell by almost 1% over the previous day. The entire trade volume did, however, increase by roughly 41% to $35.23 billion. In the past 24 hours, there has been a minor downturn in the cryptocurrency market. On the other hand, the crypto fear and greed index has increased by 2 points and has once again entered the greed zone with a score of 56/100. After the increase in XRP and MATIC last week, Ethereum Layer 2 scaling solutions have attracted a lot of investor interest over the past five days. By utilising the messaging infrastructure of SWIFT, Chainlink has introduced a cross-chain interoperability protocol intended to link blockchain and conventional finance.
Leave a reply