Markets
LDO, ENS and other Ethereum-related tokens soar after positive news on ETH-SEC front (Market Watch)
Bitcoin’s price action was quite painful yesterday, as the asset twice fell to a monthly low of $64,000 before managing to regain some ground.
Several altcoins have recovered after yesterday’s market-wide crash, especially those with some kind of connection to the Ethereum ecosystem.
ETH, ENS, LDO in recovery
Perhaps the biggest news in the crypto industry today came from ConsenSys as a company announced on X that the US Securities and Exchange Commission has notified “that it is closing its investigation into Ethereum 2.0.” The development, which ConsenSys labeled as a “huge win for Ethereum developers,” resulted in immediate gains for most ETH-related tokens.
The Lido DAO’s native coin has soared more than 15% on a daily scale to just over $2.3. ENS soared 13.5% and now trades above $26.
ETH is also slightly green, but in a more modest way. The second-largest cryptocurrency has jumped around 3% daily and is close to $3,550.
Other larger-cap alts with notable rises today include PEPE (8%), HBAR (5%), FET (8.5%), RNDR (8%), ADA (3%), LINK (4%), UNI (5%) and MATIC (3.5%).
In contrast, TON is down 6% in the last 24 hours and is now below $6.9.
Cryptocurrency market overview. Source: QuantifyCrypto
BTC jumps above $65K
Maybe powered by increasing outputs of US-based Bitcoin spot ETFs, the price of the underlying asset I lost a lot of traction since last week, when it soared to $70,000 on a few occasions.
Their inability to overcome this psychological resistance resulted in immediate pain for the bulls. The weekend was less volatile as BTC remained at just over $66,000 before being stopped at $67,000 on Monday.
The rejections created more pain, and bitcoin fell twice yesterday to a monthly low of $64,000. However, it has recovered more than a thousand dollars since then and is now inches above $65,000.
Its market capitalization decreased to $1.285 billion, while its dominance over alts decreased to 51.5%.
Bitcoin/Price/Chart 19.06.2024. Source: TradingView SPECIAL OFFER (sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive $600 welcome offer on Binance (Full details).
LIMITED OFFER 2024 on BYDFi Exchange: Welcome reward up to $2,888, use this link to register and open a 100 USDT-M position for free!
Disclaimer: Information found on CryptoPotato is from the cited writers. It does not represent CryptoPotato’s views regarding buying, selling or holding any investments. We advise that you conduct your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency Charts by TradingView.