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LDO, ENS and other Ethereum-related tokens rise after positive news on the ETH-SEC front (Market Watch)
Bitcoin’s price action was quite painful yesterday, as the asset fell twice to a monthly low of $64,000 before managing to recover some ground.
Several altcoins have rebounded following yesterday’s market crash, particularly those with some sort of connection to the Ethereum ecosystem.
ETH, ENS, LDO recovering
Perhaps the biggest news in the cryptocurrency industry today came from ConsenSys as a company announced on X that the U.S. Securities and Exchange Commission notified him “that it is closing its investigation into Ethereum 2.0.” The development, which ConsenSys called a “big win for Ethereum developers,” led to immediate gains for most ETH-linked tokens.
Lido’s native coin DAO skyrocketed more than 15% on a daily scale to just over $2.30. ENS rose 13.5% and is now trading above $26.
ETH is also slightly in the green, but more modestly. The second-largest cryptocurrency is up about 3% on a daily basis and is trading near $3,550.
Other larger-cap alternatives with notable increases today include PEPE (8%), HBAR (5%), FET (8.5%), RNDR (8%), ADA (3%), LINK (4%), UNI ( 5%) and MATIC (3.5%).
In contrast, TON has fallen 6% in the last 24 hours and now sits below $6.9.
Cryptocurrency market overview. Source: QuantifyCrypto
BTC bounces above $65,000
Maybe powered by increasing outflows from US-based Bitcoin spot ETFs, the price of the underlying asset has lost a lot of traction since last week, when it skyrocketed to as high as $70,000 on occasion.
Its inability to overcome psychological resistance resulted in immediate pain for the bulls. The weekend was less volatile as BTC remained just above $66,000 before being stopped at $67,000 on Monday.
The rejections led to further pain and yesterday bitcoin fell twice to a monthly low of $64,000. However, it has since regained more than a thousand dollars and now sits just inches above $65,000.
Its market capitalization has fallen to $1.285 trillion, while its dominance over alts has shrunk to 51.5%
Bitcoin/Price/Chart 19.06.2024. Source: TradingView SPECIAL OFFER (Sponsored)
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Cryptocurrency charts from TradingView.