After regaining the support level of US$26,000 over the last weekend and on Monday, Bitcoin dipped in Asia. Ether is also down, just above US$1,700. Litecoin, Dogecoin, and XRP are the only gainers among the non-stable cryptocurrencies, while TRX lost the most.
Bakkt, the US-based crypto exchange, joined other platforms for trading after the regulator labeled Solana, Polygon, and Cardano as illegally issued financial securities. They could see a gain in the week forward as economic data showed slowing inflation on Friday. But the visit to China from a top U.S. diplomat in five years can bring something positive to the capital markets.
Over the last 24 hours, Bitcoin has fallen 0.97% to US$26,308 IN Hong Kong but had a weekly gain of 1.58%, according to CoinMarketCap. The largest cryptocurrency in the world breached the US$26,000 level and reached US$26,769 on Saturday. Ether got down to 0.82% to US$ 1,716, making a weekly loss of 2.18%.
On Sunday, the Bitcoin balance reached a low of 2,281,978.198 tokens, according to Glassnode. XRP saw some gains in the last 24 hours of 1.01% to US$0.4859 but lost about 6.34% in the week. According to CoinMarketCap, the total market cap fell 0.53% to US$1.07 trillion, while the trade volume dipped 17.47% to US$19.69 billion.
In the non-fungible token market, the index dipped 0.16% to 2,878.56 in the last 24 hours in Hong Kong. In the last seven days, the index has gone down by 4.80%. NFT sales on Ethereum dipped 20.61% in the last 24 hours to US$11.06 million. Bitcoin blockchain went down by 44.71% to US$2.550.
“Sales across Ethereum and Bitcoin continue to lose steam, and it’s hard to say when this could turn around due to uncertainty with regulations and legal matters up in the air,” said NFT Strategist at Forkast Labs, Yehudah Petscher.