Despite reports of SEC approval for a Bitcoin ETF turning out to be false, crypto markets traded firm, rising more than 1 percent on an overnight basis and market capitalization staying close to $1.09 trillion.
Cautious optimism regarding the SEC’s future course of action remains as the grace period available to the SEC to appeal against the Grayscale verdict ended with no reports of the regulator filing an appeal.
Bitcoin traded between $29,448.14 and $27,855.21 in the past 24 hours. It is currently trading at $28,303.70, registering an overnight gain of little less than 1 percent, weekly gain of more than 3 percent and year-to-date addition of more than 71 percent.
Ethereum declined 0.84 percent in overnight trade and 0.06 percent on a weekly basis but is holding on to gains of more than 31 percent on a year-to-date basis. The leading alternate coin is currently trading at $1,576.73, after ranging between $1,628.16 and $1,570.89 in the past 24 hours.
BNB (BNB) has shed 0.76 percent amidst Binance stopping the acceptance of new user registrations in the U.K. from Monday. Meanwhile, Binance.US, the American entity of the cryptocurrency exchange Binance has in its Terms of Use updated on Monday informed customers that crypto holdings with the exchange were no longer FDIC insured. In order to withdraw U.S. dollar funds from the account, customers have been instructed to convert such U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn. Binance has also clarified that Digital Assets were not legal tender, are not backed by any government, and accounts and value balances are not subject to protections or insurance provided by the FDIC or the Securities Investor Protection Corporation.
XRP (XRP) has declined 0.84 percent on an overnight basis and 0.98 percent on a weekly basis.
Solana (SOL) has added 2.7 percent and leads the rally among the top 10 non-stablecoin cryptocurrencies.
Cardano (ADA) has slipped 1.35 percent whereas Dogecoin (DOGE) has lost 1 percent.
TRON (TRX) is trading flat on an overnight basis.
In the wider crypto world spanning the top 100 cryptocurrencies, 25th ranked OKB (OKB) is the top gainer with an overnight surge of more than 5 percent.
94th ranked Loom Network (LOOM) is the greatest laggard with an overnight decline of more than 23 percent. Despite the massive overnight decline, LOOM continues to top weekly gains with a surge of 33 percent, and year-to-date gains with an addition of 547 percent.
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