Uniswap Slumped 8% Daily, Bitcoin Fights for $19K (Market Watch)
The primary cryptocurrency continues its flirt with the $19,000 level, but it fights to stay above it this time.
The altcoins are in the red on a daily scale, with Uniswap losing the most value following the recent misunderstandings with Binance.
Bitcoin Battles for $19K
This week has not resembled the previous one in terms of market volatility. Bitcoin went through a rollercoaster seven days ago when it dropped from $19,000 to $18,200 in minutes following the US CPI numbers and then shot up to $20,000.
However, the asset calmed when the weekend came and returned back to familiar ground, around $19,000. The trading events on Monday were similar. The landscape started to change on Tuesday when it pumped to $19,600 but was stopped way ahead of $20,000.
Another brief spike came yesterday but was a minor one. As such, BTC went back down to $19,000. As of now, it stands close to that number once more, but recent reports suggested that there might be more pain on the horizon.
Its market capitalization has taken a slight hit and sits at $365 billion. The silver lining is that its dominance over the altcoins has gone above 40%.
UNI Drops Hard
The alternative coins have not enjoyed the past 24 hours, with most of them being covered in red.
Ethereum continues to struggle to reclaim $1,300, and another 1% decline since yesterday has pushed the asset to well below that level.
Binance Coin has seen 2.25% gone in a day and is down to $265. Ripple, Shiba Inu, and Dogecoin have declined by up to 5%.
More losses come from Cardano, Solana, Polkadot, and MATIC – all of them have declined by up to 7%. UNI, on the other hand, has dumped by more than 8% daily following the latest Twitter spat between Uniswap’s founder and the CEO of Binance.
With many of the lower- and mid-cap alts in a similar state, the overall crypto market cap has seen $25 billion shed in a day, and the metric stands just inches above $900 billion.
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