Bitcoin, Ethereum, Dogecoin Mute As B Word Enthusiasm Fades; These Altcoins Are Still Striking Major Gains
Major cryptocurrencies largely traded flat on Thursday night as the global cryptocurrency market cap inched 0.8% higher at $1.33 trillion.
What Happened: Bitcoin (CRYPTO: BTC) traded 0.76% higher at $32,356.35 over 24 hours at press time. Over a week, the apex coin has risen 2.28%.
Ethereum (CRYPTO: ETH) traded 1.75% higher at $2,028.59 over 24 hours. Over a seven-day trailing period, ETH traded 6.37% higher.
Dogecoin (CRYPTO: DOGE) was down 0.97% at $0.19. The Shiba Inu-themed coin traded 4.53% higher for the week.
See Also: How To Buy Dogecoin (DOGE)
DOGE traded 1.58% lower against BTC and 2.41% against ETH over 24 hours.
The top gainer on Thursday night over 24 hours was Stellar (CRYPTO: XLM), as per CoinMarketCap data.
XLM, a token that aims to challenge existing payment services companies, traded 19.98% higher at $0.27 over 24 hours. Over seven days XLM traded 6.98% higher.
Against BTC and ETH, XLM traded 18.49% and 17.23% higher respectively.
Axie Infinity (CRYPTO: AXS), Sushi Swap (CRYPTO: SUSHI), and OKB (CRYPTO: OXB) were other notable gainers over 24 hours.
Over 24 hours — AXS traded 18.61% higher at $26.48, SUSHI spiked 15.85% to $8.35, OKB rose 14.78% to $12.89.
Why It Matters: Gains in the cryptocurrencies simmered down on Thursday as the excitement surrounding comments originating from Wednesday’s The B Word Conference withered away.
Musk also hinted that Tesla may resume accepting BTC soon should due diligence confirm initial findings that the cryptocurrency is turning friendlier towards the environment.
This week, BTC slipped below the psychologically important $30,000 level after New Jersey’s securities regulator ordered the firm to suspend new interest accounts in the state.
The bank-like platform is now facing regulatory scrutiny in Alabama and Texas as well, with the latter filing a cease and desist order against BlockFi, BlockFi Trading, and BlockFi Lending, as per a CoinDesk report.
Even amid the heightened regulatory scrutiny, BlockFi is planning to go public in 12 to 18 months, as per documents circulated to investors, CoinDesk reported separately.