The bane of crypto today is quantity over quality: Opinion
The market now has 26,000 different cryptocurrencies and the total number of coins in circulation approaches infinity. How do those tokenomics make any sense?
The market now has 26,000 different cryptocurrencies and the total number of coins in circulation approaches infinity. How do those tokenomics make any sense?
All top 10 cryptocurrencies rose, led by Solana, as another financial heavyweight applied to offer a Bitcoin exchange-traded fund and data showed the U.S. economy in good health. Stocks rose.
Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.
Bitcoin dropped but remained above US$30,000, with all other major cryptocurrencies falling, as investors reacted to news of MicroStrategy’s Bitcoin purchase and ARK Invest’s spot Bitcoin ETF plan.
Despite a slight dip in crypto prices, positive investor sentiment persists, buoyed by the potential of Bitcoin ETFs, rising institutional adoption, and recovery from regulatory concerns.
Bitcoin rose along with other major cryptocurrencies. Fidelity reportedly plans a second spot Bitcoin ETF application in the U.S. following BlackRock’s move earlier this month. A strong day on Wall Street also offered support.
Azuki’s Elementals launch may be a turning point for the NFT market, with the continued decline of top projects’ floor prices.
Bitcoin slipped 0.04% but remained above US$30,000. Ether fell 0.97% to US$1,875.
Bitcoin slipped in directionless trading while Ether retreated, but both held gains for the past seven days. Most other top 10 tokens lost ground, led by Solana, while Tron was in the green as markets entered the last trading week of June.