The crypto market is still struggling in the aftermath of the charges filed by the US regulator against Binance and Coinbase earlier this week. The total market capitalization therefore comes out at the same price as 24 hours ago: $1.149 trillion.
Most of the top 100 altcoins are neither deep in the red nor in the green today. There are, however, some exceptions to that. For example, we have a coin that made an unprecedented leap and is now in the top 100.
⚡ Market Overview #BTС price trades below $27K
The Top-10 are traded in different directions: $XRP -0.82%, $ADA -3.59%, $ADA -1.45%
Market cap: $1.21T… pic.twitter.com/ipqS50X4Kq
— CryptoRank Platform (@CryptoRank_io) June 9, 2023
Bitcoin price bounces with $26,500
Bitcoin (BTC) seems to be slowly regaining traction at $26,500 and just shot to $26,600. This puts Bitcoin up 0.7% today. However, analysts warn that selling pressure is mounting, but long-term holders do not seem to care.
SOPR registered it’s most significant day of #Bitcoin being sold at a loss on chain in a couple of months.
However, compared to previous pullbacks it barely registers.
This shows that generally HODLers are unbothered about price swings are are holding for higher. https://t.co/CLIBvjxZ4Z pic.twitter.com/EZvapmaIxd
— Decentrader (@decentrader) June 9, 2023
Ethereum is already struggling
Ethereum (ETH) is slightly heavier than bitcoin this morning, testing support around $1,835 twice. For the time being, this limit will hold and ETH will rise to $1,942, which means that the price is 0.2% higher. Gradually, the next major update for Ethereum, ‘Cancun,’ seems to be getting closer.
EIP-4788 was just greenlit for Cancun
this EIP supports better designs for staking pools, restaking, and bridges; excited for the deployment!
— stokes (@ralexstokes) June 8, 2023
XRP hardest riser, cardano hardest faller in top 10
The rest of the top 10 also shows relatively little movement. The binance coin (BNB) is of course struggling and drops by 0.8% to $259. Litecoin (LTC) is at the same price as 24 hours ago at 0.88%. Tron (TRX) is up just 0.1% at $0.0775. Dogecoin (DOGE) is up 0.2% to USD 0.068. Solana (SOL) comes in at $18.75 and is up 0.4%. Polygon (MATIC) is up 0.8% to $0.78.
Ripple (XRP) is once again the strongest climber in the top 10, but it has not yet managed to regain that $0.53. With a price of $0.528, XRP is nevertheless up 1.7% today.
$XRP remains above $0.50 after the @SECGov suede @binance and @coinbasewhile most #altcoins dipped.
Although this may seem like a sign of strength for #Ripple, the crowd is well aware of it as mentions on social media surged. This isn’t good for the price of #XRP. pic.twitter.com/96n8jywOg8
— Ali (@ali_charts) June 8, 2023
Cardano (ADA), however, has heavy. The price drops again today by about 3.7% and is now at $0.315. The ADA price seems to be finding some support here now, but this is the lowest price since the beginning of March, about three months ago. Still, not all looks bleak for ADA:
Cardano TVL Hits 500M Ada!
A new ATH in ADA terms in the middle of a bear market 🐻#Cardano inevitable! pic.twitter.com/EFXRzubbcj
— Cardano Spot (@CardanoSpot) June 8, 2023
BSCEX up 8000+%
In the top 100 stacks (STX) is the hardest faller today, but that is because the coin rose sharply earlier this week. STX is down 4% to USD 0.63. On the other hand, terra luna classic (LUNC) is up 4% and xdc network (XDC) is up 4.8%. XDC is currently trying to recapture $0.036.
Then we have another notable exception in the top 100: BSCEX (BSCX). The BSCX made a bizarre jump to $144 yesterday, up a whopping 1,080% in just hours.
This coin from Binance’s decentralized exchange (DEX) is seeing a massive surge in volume due to the indictment. The BSXC price is even up 8,120% this week and is now number 78 in the top 100. However, Scurdex Capital reports that liquidity is declining.
THIS IS NOT A FINANCIAL ADVISE!!
There’s a rally in $BSCX. It has been done about 10x in the last few hours.
We couldn’t track it’s on-chain Active Addresses. But we got it’s 30d trxn count as 509 & about 15.6k addresses are holding these tokens.
Note: It’s DEX liquidity dropping. pic.twitter.com/4dgwbVXjgb
— Scurdex Capital (@scurdexcapital) June 9, 2023
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