Cryptocurrency

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Crypto Winners and Losers Tuesday Morning

00:01:07

Major cryptocurrencies are struggling as the global crypto market cap fell almost 4% to around $1.7 trillion. These struggles continued as talks between Russia and Ukraine stalled for another day. The markets responded by allowing Bitcoin to fall more than a half percent, seeing Ethereum fall more than a percent, and watching Dogecoin fall more than 2%. Over the past week, Bitcoin has lost more than 12%, Ethereum is down more than 14% and Dogecoin is off almost 12%. Conversely, Waves, Pax Dollar and USD Coin are all gaining in a market that has left a lane for smaller tokens to surpass their more popular rivals. Waves has been surging for some time now, gaining more than 2% to reach $18.65. Pas Dollar gained a fraction of a percent to sit at a dollar, and USD Coin rose a fraction of a percent to sit just below $1. Meanwhile, Coinbase ($COIN@US) is identifying wallet addresses of Russian individuals or entities that may be related to illicit activity, Bitcoin is back to behaving like a risky asset, and Glassnode’s leadership that Bitcoin has a strong bottom indicator, pushing towards support between $34,000 and $36,000. At press time, Bitcoin was trading just over $39,000 on a slight increase in its market cap and a sharp increase in volume.

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