Bitcoin

Cryptocurrencies are experiencing a positive turn in the market today, following the recent setbacks caused by governmental actions. The leading cryptocurrency, Bitcoin (BTC), has managed to nearly erase its losses from yesterday and is currently enjoying a 3.7% increase in value, with a trading price of $27,055. However, for the week, Bitcoin has seen a decline of around 3%, and its market capitalization stands just above $520 billion.Ethereum (ETH), holding the second position in terms of market cap, has exhibited a similar performance. It has observed a 3.6% surge in the last twenty-four hours, currently valued at $1,874 according to Coingecko. Notably, Ethereum has remained excluded from the Security and Exchange Commission&#39;s (SEC) list of securities and boasts a healthy market capitalization exceeding $225 billion.Other cryptocurrencies on the list have also witnessed comparable price movements, with the majority showing positive growth indicated by green candles among both major and minor altcoins. This positive trend is occurring despite the SEC&#39;s efforts to regulate what it deems as unregulated securities.The top ten tokens, commonly referred to as blue chips, have recorded gains ranging from 2% to 5%, with Dogecoin being an exception as it has achieved a notable 6% increase, securing the ninth spot on coingecko.Despite facing scrutiny from the SEC, Binance Coin (BNB) has managed to achieve a joyous day, experiencing a 2.7% upward movement and trading at $282.09. However, BNB&#39;s performance over the past week has been turbulent, hitting a high of $312 on May 30th and a low of $274 yesterday, resulting in a 9.7% weekly drop.Among the top 100 cryptocurrencies, several notable winners have emerged with double-digit gains. Lido DAO (LDO) has surged impressively by 12% in a single day, currently valued at $2.38. PepeCoin (PEPE) has experienced a 16% increase, trading at $0.00000119, while Optimism (OP) has seen an 11% rise, being bought and sold at $1.50.Today, there are only a few losers to be found. Polygon (MATIC), listed by the SEC, and Tron (TRX) occupy the 11th and 12th spots on Coingecko&#39;s ranking. Polygon has suffered a 2% loss, while Tron has maintained stability with minimal changes.Considering the present state of the cryptocurrency industry, these price fluctuations appear promising. Despite the SEC&#39;s legal action against the two largest exchanges in the market, prices have only experienced slight declines before bouncing back the following day. It remains uncertain whether these movements indicate a temporary recovery or signify a more mature market that places its trust in cryptocurrencies rather than traditional financial systems.

Tokens Bounce Back Across the Market After SEC Triggers Turmoil

ItsBitcoinWorld

Other articles published on Jun 8, 2023

Binance claims Gensler once offered to be an ‘Informal Advisor’

The Myria SDK Just Got Better! Read All About the Latest Update to the Myria SDK for Developers a...

Potential SEC Legal Targets in Crypto Space: Speculation Rises

New UK regulations mandate crypto ads to carry risk warnings

Eurozone enters recession as crypto market watches closely

Catgirl - DAPP 3.0 IS LIVE!

Join our free newsletter for daily crypto updates!