TONCOIN continues its rally with another notable double-digit price surge.
#Bitcoin’s price performance continues to be somewhat surprising given the positive news that came from Grayscale’s court victory over the SEC earlier this week, and the asset fell to a new multi-month low.
The altcoins also fell in the past 24 hours once again, except for TONCOIN, which is in a league of its own.
BTC’s Latest Drop :-
B4Bit reported the positive developments in the #crypto market earlier this week when a US judge ruled in favor of Grayscale in its lawsuit against the US Securities and Exchange Commission. While the ruling itself didn’t mean that a spot #BTC ETF would indeed be approved, it was still another major win for the industry against the US securities regulator.
It propelled a massive rally for the entire market, with BTC soaring by over $2,000 in hours and tapping a multi-week peak at above $28,000.
However, the hype quickly evaporated, and the SEC cooled things off by delaying the decision to approve or reject all current spot #bitcoin ETF applications for another 45 days.
This had an immediate effect on BTC’s price performance, which not only lost all gains charted after Grayscale’s win but kept plunging to a new 11-week low of about $25,350 hours ago.
Despite recovering a few hundred dollars since then, BTC is still in the red today and sits beneath $26,000. Its market cap is close to breaking below $500 billion, while its dominance over the alts is at 48.2%.
TONCOIN Defies the Sentiment :-
The past 24 hours didn’t bring any positive movements for most of the alts yet. In fact, all of the larger-cap alts, including ETH, BNB, XRP, ADA, #DOGE , SOL, TRX, DOT, MATIC, LTC, and SHIB, are in the red, with minor losses.
There’s only one exception here – TONCOIN. The asset has been on a roll in the past week and the last 24 hours didn’t disappoint. TON has soared by over 11% and trades close to $2.
Most other alts are in the red, which has pushed the total crypto market cap south again. The metric is down to $1.040 trillion just days after breathing the $1.1 trillion level.
