Cryptomarket on pause: DeFi tokens on Ethereum are still rising sharply

The crypto market seems to be cooling down a bit and catching its breath after last week’s massive gains. Many prices made a small dip yesterday, but a large number are already recovering strongly this morning. The total market capitalization is again around $1.32 trillion.

Bitcoin back below $30,000

Bitcoin (BTC) dipped back below $30,000 yesterday, but is recovering this morning. At the time of writing, the price is meeting some resistance around $29,800 and is down 0.6% today. Nevertheless, market sentiment is becoming increasingly positive.

Ethereum back at $2,100

Ethereum (ETH) has shown a similar pattern over the past 24 hours. The ETH price dipped to $2,050 last night, but is now back at $2,100, the same price as 24 hours ago.

Crypto 10 turns red, DOGE hardest faller

The rest of the top 10, however, still turns red. Polygon (MATIC) also recovers, but is still down 0.1% at $1.17. Ripple (XRP) is down 0.2% to $0.514 and so is cardano (ADA) which is at $0.44.

Binance coin (BNB) is down 0.4% today at $434.7. Solana arrives at $25 again and is already 1.2% down. Dogecoin (DOGE) is the biggest loser out of the top 10 today and drops 1.5% to $0.0925.

Algorand drops after SEC indictment

Some altcoins are taking a hit today with a new U.S. Securities and Exchange Commission (SEC) indictment against Bittrex. In the indictment, the SEC names cryptocurrencies such as algorand (ALGO), dash (DASH), monolith (TKN) naga (NGC), real estate protocol (IHT) and OMG network (OMG) as securities, or securities. ALGO’s price therefore drops by 2.8% to $0.222.

BGB & RPL hardest fallers crypto top 100

Falling even harder today bitget token (BGB) and rocket pool (RPL). BGB is down 7% to $0.418 and RPL is down 7.1% to $55.

ARB & XRD strongest climbers crypto top 100 again

Still, we still have a number of hard risers today, and it is again many DeFi projects on Ethereum. For example, synthetix (SNX), frax share (FXS) and theta network (THETA) are up about 5%. Internet computer (ICP) increases by 5.5%. Zilliqa (ZIL) is already up 6.6% and arbitrum (ARB) is even up 7.3% to $1.76.

Radix (XRD) steals the show again in the top 100, rising a whopping 26% to $0.108. The XRD price is even 108% up compared to a week ago.

Watch out for scams about new meme coin

Finally, we have a new one memecoin that seems to attract attention: pepe token (PEPE). These types of tokens are extra volatile and can often fall just as hard as they rose. The hype also seems to be accompanied by new scams, so be careful.

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Read Also:  Is Dogecoin's Memecoin Buzz Losing Steam?

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