Pepe explodes by 16 %, BTC makes up for most SEC-related losses: Market Watch

Pepe explodes by 16 %, BTC makes up for most SEC-related losses: Market Watch

Despite the second high-ranking lawsuit that the SEC initiated against a crypto company yesterday, Bitcoin actually exceeded expectations and scored $ 2,000 in a few hours.

Most old coins have also become green: ETH is approaching the $ 1,900 mark and LDO by 9 %.

The roller coaster ride of BTC

The most important cryptocurrency remained in a close span of around $ 27,000 for weeks, but that finally changed on Monday when the US stock exchange supervisory authority sued Binance, his CEO and its US subsidiary.

BTC reacted with an immediate drop in price, which drove the price of $ 27,000 to a two-month low of less than $ 25,500, which led to liquidations of $ 300 million. When the asset finally got a breath of fresh air, the US value paper supervision announced another complaint-this time against Coinbase.

BTC fell again, this time from $ 25,800 to less than $ 25,400, and reached another lower lower. In the following hours, however, the situation changed completely unexpectedly when the cryptocurrency experienced a high and $ 2,000 to $ 27,400.

Although BTC has lost several hundred US dollars since then and is currently less than $ 27,000, it has increased by more than 4 % that day, and its market capitalization has again exceeded the $ 520 billion. His dominance to the old coins also increases to 46.4 % after he had decreased to 45.8 % yesterday.

Btcusd. Tradingview

pepe, stx on the advance

The alternative coins have just as strong, if not worse, like BTC yesterday, but the situation is now very different. ETH fell to $ 1,800, but an increase of 3.5 % since then has catapulted the largest altcoin to just under $ 1,900.

After the legal steps of the SEC against Binance, BNB dropped by over 8 %as expected. Although there was no recovery again, the asset has managed to stop bleeding for the time being.

ripple, Dogecoin, Litecoin, Polkadot and Avalanche are clearly in the green with growth of up to 4 %. In contrast, Cardano, Polygon and Tron decreased by 2-3 %.

The biggest winners in the last 24 hours are stacks (19 %), Pepe (16 %) and Terra Classic (15 %).

The overall capitalization of the crypto market recovered by about $ 40 billion in one day and is now $ 1.120 trillion.

Overview of the cryptocurrency market. Quantify crypto