The crypto market today had prices falling as Bitcoin traded beneath the $47,000 mark. According to CoinDesk, BTC has its value dropping by 3% due to the previous sluggish sessions. That had the leading crypto trading around $46,231 at this publication. However, BTC still trades 59% on YTD.
Ether, Ethereum network native coin traded lower today after dropping 4%. For now, the second leading coin trades at $3,174. Also, DOGE lost around 4% to stand at $0.32. Other alternative assets that saw modest plunges over the past day are Uniswap, Litecoin, XRP, Cardano, and Stellar.
Meanwhile, the impressive rallies over the weekend saw the total crypto market value climbing over $2 trillion. Such actions came as Bitcoin, XRP, DOGE, and Cardano hiked. According to stats by CoinGecko, the crypto market cap climbed to around $2.06 trillion during the Saturday sessions. Bitcoin managed to touch its highest point since 16 May. The world’s dominant crypto traded around $48,152 with the momentum to stay over the 200-d MA.
On the Other news, Nirmala Sitharaman, India’s Finance Minister, declared that the proposed crypto legislation is before the parliament awaiting approval. On Monday, the minister stated that the cabinet admitted their readiness on the crypto Bill. Keep in mind that India has had wavering decisions for a long as far as crypto is concerned. However, things might change as the nation seems interested in digital coins.
Meanwhile, Walmart Inc. is interested in hiring a crypto professional to upgrade its blockchain network. The retail giant joins the list of top firms exploring the credibility of digital assets like Bitcoin.
The crypto industry has struggled before the market rebound over the past weeks. That came after the environmental concerns surrounding the crypto space and China’s stiff moves in crypto regulations. However, the crypto community came to rescue the market. Supportive statements from Cathie Wood, Jack Dorsey, and Elon Musk saw Bitcoin rising again.
Despite the slight losses, the crypto space still shows enough strength to maintain its critical supports. The correct market catalysts will have most cryptocurrencies trading on higher highs.
Feel free to use the comment section for anything related to the content above.