Crypto Market Update
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Crypto Market Update: 19-06-2024
The global cryptocurrency market capitalization has seen a significant decline over the past 24 hours. As of June 19, the market capitalization stands at $2.56 trillion, a 2.2% drop from the previous day. This decline is attributed to the bearish trend in the top 100 coins, with over 20 coins experiencing price increases.Top Performers
The top performers among the top 10 coins by market capitalization are:
- Uniswap (UNI), which rose 7.9% to $10.64
- ONDO, which increased 3.3% to $1.34
- Toncoin (TON), which gained 2% to $7.8
Top Losers
The top losers among the top 10 coins by market capitalization are:- Stacks (STX), which fell 10% to $2
- Injective (INJ), which dropped 6.9% to $28.15
- Solana (SOL), which declined 3.2% to $147.5
Regulatory Developments
- The Graph Foundation has completed its Sunrise initiative, fully decentralizing Web3’s data layer.
- CryptoQuant head Julio Moreno noted a surge in ETH demand, with long-term holder purchases reaching the second-highest level on record.
Market Analysis
- Bitcoin (BTC) price has dipped below $66,000, with a 24-hour loss of 1.01%.
- Ethereum (ETH) price has gained 3.41% over the past day, trading at $3,550.06.
- Solana (SOL) price has soared 4.26% in the past 24 hours, trading at $141.12.
- XRP price has jumped 1.48% to $0.4971.
Live Cryptocurrency Chart
For a comprehensive and easy-to-use live cryptocurrency chart, visit Investing.com. This chart tracks the movements of hundreds of cryptocurrencies and allows users to change the appearance of the chart by varying the time scale, zooming into different sections, and adding new studies or indicators.Additional Insights
- Bitcoin ETFs have seen massive outflows following the latest FOMC meeting, contributing to the downward pressure on BTC.
- Meme coins like Shiba Inu (SHIB) have seen significant losses, with the SHIB burn rate spiking but the price tanking.
- Ethereum ETF approvals are slated for this summer, according to SEC Chair Gary Gensler.
Conclusion
The crypto market has experienced a significant sell-off in recent days, driven by factors like Bitcoin ETF outflows and broader macroeconomic conditions. However, there are still signs of innovation and development in the space, particularly around Ethereum and scaling solutions.
Admin
Cryptoinf is a writer who has been writing about blockchain and cryptocurrencies for over four years. He became interested in Bitcoin and other cryptocurrencies in late 2018 and has continued to follow the field closely. He is especially interested in the technology and economics of crypto and always keeps an eye on the market, except when he's sleeping.
