After several consecutive days without any falls, bitcoin recovered $22,000 after finally rebounding.
Altcoins tend to be doing well in the green with Cardano and Dogecoin, MATIC and Litecoin all spiking at over 5% per day.
Bitcoin back at $22K
Despite the continued regulatory scrutiny by US watchdogs, the past few days have not been good for the primary cryptocurrency. The SEC began to pursue Kraken and its staking platforms before the NYDFS brought Paxos under scrutiny. They claimed that Paxos sells unregistered securities through the issuance of Binance USD (BUSD).
These factors had an enormous impact on bitcoin’s price, which fell from $24,000 to $21,500 in just one week. On Monday, the latest multi-week low was at $21,375 (on Bitstamp), and the community focused on yesterday’s CPI numbers.
BTC fell short of the estimates, and it soared to $22,000 in the afternoon. As of today, the asset is 1.75% higher than it was on the previous day.
Its market capitalization is now at $430 billion, and its dominance over other alts is still quiet at 41.6%.
ADA, MATIC and DOGE Turn Green
Although the atlcoins were also subject to regulatory scrutiny, most of them have now turned green, with a 3% increase over the largest. ETH has now reached $1,550, after it fell below $1,500 yesterday.
Cardano has 7%0, Dogecoin (6%), MATIC (5%) and LTC (5.5%). FIL (6%), LDO (10%), GRT (14%), FTM (11%) are all other impressive gains.
Dogecoin and Shiba Inu, along with Floki Inu, have skyrocketed after a joke about dogs from Elon Musk.
Nevertheless, the BLUR Airdrop was perhaps the most anticipated news in crypto over the last 24 hours. Dune claims that more than 300,000,000 tokens were already claimed from the total 360,000,000.
This resulted in an increase in Ethereum’s gas fees, which was somewhat expected. In some cases, it could even lead to $200 per transaction. After spiking to over $5 shortly after the airdrop, BLUR has fallen to $0.77 on CMC.
The crypto market cap has risen to more than $30 Billion per day and is well above $1 Trillion.
Binance Futures $100 Off (Exclusive). Use this link to sign up and get $100 off your first month. (terms).
PrimeXBT Special Offer: Click this link to register and enter the POTATO50 code for up to $7,000 in deposits
Disclaimer: All information found on CryptoPotato are the opinions of the authors. This information does not reflect the views of CryptoPotato about whether or not to invest. Before making any investment decision, you are strongly advised to do your own research. You are responsible for any use of the information. For more information, please refer to the Disclaimer.
Charts of cryptocurrency TradingView