Cryptocurrencies rose modestly early on Monday amidst persisting Dollar weakness and gains in equity markets. Crypto market capitalization increased more than 1 percent overnight to $1.30 trillion whereas the Dollar Index, which measures the strength of the Dollar against a basket of six currencies, dropped by less than a percent, to 102.3.
Bitcoin is trading at $30,409, versus the high of $30,694 and low of $28,708 touched in the past 7 days. BTC is up 1 percent on an overnight basis and 1.6 percent on a weekly basis. 51 percent of BTC holders are making profits at current prices. Bitcoin’s dominance is at 44.4 percent.
Ethereum is trading at $2,067, having gained around 2 percent in the past 24 hours. Ether’s 7-day trading range has been between $1907 and $2113. Around 57 percent of ETH holders are in the money at current prices. Ethereum dominates 19.1 percent of the overall crypto market.
Third ranked Tether (USDT) traded between $0.9988 and $0.9993 in the past 24 hours. Tether’s market capitalization dropped to $73.2 billion, versus $75.7 billion a week ago and $83.1 billion a month ago.
4th ranked BNB (BNB) is trading at $332.72, up more than 4 percent on an overnight basis. The native coin of the Binance crypto exchange has gained more than 11 percent on a weekly basis.
5th ranked USDCoin (USDC), ranked second among all stablecoins, traded between $0.9999 and $1.00 in the past 24 hours. USDC market cap increased to $53.2 billion versus $52.0 billion, a week ago and $49.9 billion, a month ago.
6th ranked XRP has gained 1 percent overnight to trade at $0.4259. Ripple had recently committed $100 million to scale and strengthen global carbon markets.
7th ranked Cardano (ADA) is trading at $0.5535, having gained more than a percent in the past 24 hours. ADA has however suffered a weekly decline of more than 2 percent.
BinanceUSD (BUSD) ranked 8th overall and 3rd among all stablecoins traded between $0.9988 and $1.00 in the past 24 hours. BUSD has seen its market cap increase to $18.4 billion, from $18 billion a week ago, and $17.5 billion, a month ago.
9th ranked Solana (SOL) gained 4 percent overnight, whereas 10th ranked Dogecoin added 2 percent.
29th ranked Ethereum Classic (ETC), 44th ranked Aave (AAVE), 50th ranked Fantom (FTM), 56th ranked eCash (XEC), 62nd ranked Neo (NEO), 75th ranked Convex Finance (CVX) and 77th ranked Curve DAO Token (CRV) have all rallied more than 10 percent in the past 24 hours.
63rd ranked Loopring (LRC) and 66th ranked TerraUSD (UST) have both rallied more than 25 percent in the past 24 hours.
95th ranked Bitcoin Gold (BTG), a hard fork of the original open-source cryptocurrency, gained more than 35 percent overnight.
Terra (LUNA) ranked 213 is trading 1 percent higher on an overnight basis.
The developments in crypto markets over the past fortnight have reduced the regulatory forbearance of the crypto world. Markets are weighing the likely tone and scope of the regulations that would be unveiled and the impact it would have on the prices of cryptocurrencies. Till something concrete emerges, it would be a cautious wait and watch for both crypto investors and crypto watchers.
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