HomeCryptoUniswap Slumped 8% Daily, Bitcoin Fights for $19K (Market Watch)

Uniswap Slumped 8% Daily, Bitcoin Fights for $19K (Market Watch)

The primary cryptocurrency continues its flirt with the $19,000 level, but it fights to stay above it this time.

The altcoins are in the red on a daily scale, with Uniswap losing the most value following the recent misunderstandings with Binance.

Bitcoin Battles for $19K

This week has not resembled the previous one in terms of market volatility. Bitcoin went through a rollercoaster seven days ago when it dropped from $19,000 to $18,200 in minutes following the US CPI numbers and then shot up to $20,000.

However, the asset calmed when the weekend came and returned back to familiar ground, around $19,000. The trading events on Monday were similar. The landscape started to change on Tuesday when it pumped to $19,600 but was stopped way ahead of $20,000.

Another brief spike came yesterday but was a minor one. As such, BTC went back down to $19,000. As of now, it stands close to that number once more, but recent reports suggested that there might be more pain on the horizon.

Its market capitalization has taken a slight hit and sits at $365 billion. The silver lining is that its dominance over the altcoins has gone above 40%.

BTCUSD. Source: TradingView

UNI Drops Hard

The alternative coins have not enjoyed the past 24 hours, with most of them being covered in red.

Ethereum continues to struggle to reclaim $1,300, and another 1% decline since yesterday has pushed the asset to well below that level.

Binance Coin has seen 2.25% gone in a day and is down to $265. Ripple, Shiba Inu, and Dogecoin have declined by up to 5%.

More losses come from Cardano, Solana, Polkadot, and MATIC – all of them have declined by up to 7%. UNI, on the other hand, has dumped by more than 8% daily following the latest Twitter spat between Uniswap’s founder and the CEO of Binance.

With many of the lower- and mid-cap alts in a similar state, the overall crypto market cap has seen $25 billion shed in a day, and the metric stands just inches above $900 billion.

Crypto Market Overview. Source: Quantify Crypto
Crypto Market Overview. Source: Quantify Crypto

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source link



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments