📊🔻 Why Is Crypto Down Today?🔻📊
The crypto market is currently consolidating near key support levels, affected by factors like potential national Bitcoin reserves and corporate investments.
CIFonX, a crypto advocacy group, has started a campaign against the renomination of SEC Commissioner Caroline Crenshaw. SEC Commissioner Hester Peirce emphasizes three crypto regulatory reforms that need reconsideration under Trump's administration.
The total market cap of cryptocurrencies has decreased by 9.2% in the last day, now at $3.5 trillion, moving away from the $4 trillion mark. Despite the market downturn, daily crypto trading volume has risen to $469 billion compared to the previous day.
Only nine out of the top 100 cryptocurrencies by market cap have experienced price increases today.
📊 Top 5 Coins Are Down 7.57% On Average Today
All of the top five cryptocurrencies by market cap have declined in value today. The crypto market as a category has significantly decreased over the last few days.
Three cryptocurrencies have seen declines in double digits. Cardano (ADA) experienced the largest drop, falling 12.7% to $0.99272. XRP and Dogecoin also saw significant declines, with XRP down 11.7% to $2.15 and Dogecoin down 10.1% to $0.39936.
Bitcoin and Ethereum also decreased, with Bitcoin down 2% to $97,590 and Ethereum down 5.5% to $3,699.
Argentina's securities regulator has opened trading for U.S. ETFs, including those related to crypto. Changpeng Zhao, former CEO of Binance, predicts that national Bitcoin reserves are inevitable, with smaller countries taking the lead.
📍Disclaimer: This is not a financial recommendation, cryptocurrency investments are speculative, and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance.
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