The cryptocurrency markets are recording short-term losses on the daily charts with Bitcoin marking a 4.54% loss on the day with its price struggling below the $7800 level. Bitcoin started the day with a downward movement around $7,940 and went as low as $7,510 in the last few hours. The price at the time of this writing is $7,564.
Other major cryptocurrencies are also facing the bears’ pressure today as Ethereum, XRP, and LTC are seeing losses of 8.11% ($235), 7.49% ($0.367), and 5.83% $85.81) respectively.
The total market cap is $234 billion | Bitcoin’s market cap is $134 billion | BTC dominance is at 57.2%
Major Crypto Headlines
Japan to Check Money Laundering Policies of Crypto Exchanges Ahead of FATF Inspection: Japanese financial watchdog is reportedly inspecting cryptocurrency exchanges with traces of suspicious transactions and poor KYC as part of its effort to toughen money laundering laws.
Binance CEO CZ Is Suing VC Giant Sequoia for Reputational Damages: Changpeng Zhao has filed a lawsuit requesting compensation from Sequoia Capital China for damages caused to his reputation, which prevented him from raising funds.
Copyright Registrations Do Not Recognize Craig Wright as Satoshi Nakamoto: After applying for copyright registrations for Bitcoin properties, the US Copyright Office has officially responded that it does not recognize Craig Wright as Satoshi Nakamoto.
Most Significant Winners and Losers
Despite the declines in the market, SoPay (SOP) is leading the pack with gains of more than 160% against the US dollar. Although SOP started the trading day with a low price of $0.0016, at the time of this writing the token is trading at of $0.0045 with a daily volume of $11,640,011. SoPay is a blockchain project that aims to develop a fast, secure, and easy-to-use platform for digital currencies payment.
SPEC price looks great on the daily chart despite the struggles in the last 30 days. The token is marking a massive gain of over 120% in the last 24 hours with its current price sitting at $0.000022.
The bulls have managed to push PENG coin above $0.00005 after a long period of struggling with a price of around the $0.00003 mark. This shows that investors are making about 122% gains on the day. PENG currently trades at $0.000076 with a market cap of $511,282 and daily volumes of $124,104.
LUNES is struggling to stay above $0.0040 in the past 24 hours. LUNES price was as high as $0.008 at the start of the trading session, but the coin responded to the short positions that entered the market a few hours ago. At the time of writing, LUNES is trading at $0.0042 with daily volumes of $143,727.
Cryptocurrency charts by TradingView.
Technical analysis tools by Coinigy.