Bitcoin and other crypto tokens were back in the red on Tuesday as the good news was established following Ripple's partial victory against the SEC in a court decision. Tokens may continue to see dips below this threshold until the SEC decides whether to approve one of multiple spot bitcoin ETF applications.
Bitcoin was back in the red territory as the largest crypto token dropped around a percent, but somehow managed to hold the $30,000 mark. Its largest pair, Ethereum, lost more than one percent but barely stayed above the $1,900 level. The price on the action altcoins was mainly on the downside.
Bitcoin started the new week by holding its position above $30,000 with on-chain data indicating a re-accumulation phase among investors. This sentiment hints at an imminent significant market move, though its precise direction remains uncertain, CoinDCX's research team said.
โCrypto transaction volume on spot exchanges has seen a notable increase primarily due to the recent judge ruling that Ripple's XRP sales on public trading platforms did not constitute the sale of securities. The seven moving average days to spot trading volumes increased to $16.56 billion,โ it added.
Most of the major crypto tokens were trading lower on Tuesday, but the action was limited. Bitcoin Cash topped the losers, falling around 5 percent, while Cardano was down 3 percent. XRP lost 2 percent, while Litecoin was back around 1 percent on the day.
The global cryptocurrency market capitalization was trading slightly lower, falling to $1.21 trillion, as it declined nearly one percent in the past 24 hours. However, total trade volumes increased around 41 percent to $35.23 billion.
The crypto market has observed a slight correction in the last 24 hours. The cryptocurrency fear and greed index, on the other hand, is up 2 points and re-entered the greed zone with a score of 56/100, said Shubham Hudda, a senior manager at the CoinSwitch Markets Desk.
โAfter the rise of XRP and MATIC last week, Ethereum Layer 2 scaling solutions have seen significant investor attraction as in the last 5 days. Chainlink has launched a cross-chain interoperability protocol aimed at bridging blockchain and finance using the SWIFT messaging infrastructure," he said. aggregate.
WazirX Trade Desk Tech View
Adventure Gold (AGLD) serves as the intrinsic ERC-20 token for the loot non-fungible token (NFT) initiative. Adventure Gold adheres to the core vision of the underlying Loot NFT game, fostering a community-driven ecosystem where people can build on Loot, effectively supporting its growth and development.
The AGLD/USDT chart has been on an upward trajectory for the past few days. The trend is about to break out of the rising channel pattern, on the weekly time frame. The positive momentum is expected to continue over the course of the next few days. The next resistance is expected at $0.92, and strong support is expected at the $0.42 level.
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