Bitcoin, Dogecoin, Ethereum Turn Red Again But These Altcoins Are On A Tear Today

Major cryptocurrencies traded in detrimental territory within the late hours of Sunday as the worldwide cryptocurrency market cap fell 0.63% to $2.05 trillion.

What Happened: The apex cryptocurrency Bitcoin (CRYPTO: BTC) traded 0.72% decrease at $45,003.36 over 24 hours. For the week, BTC has risen 12.97%.

Ethereum (CRYPTO: ETH) fell 0.61% over 24 hours to $3,302.52 and, for the week, it has plunged 15.85%.

See Also: How To Buy Ethereum (ETH)

Cardano (CRYPTO: ADA), a  proof-of-stake blockchain platform that carried out good contracts on Sunday, traded 5.99% decrease at $2.43 over 24 hours. For the week, Cardano has fallen 15.83%.

Dogecoin (CRYPTO: DOGE) was down 0.36% at $0.24 over 24 hours. Over a seven-day trailing interval, DOGE has misplaced 22.63%.

The high gainer on Sunday night was Cosmos (CRYPTO: ATOM) which soared 22.91% over 24 hours to $33.19. For the week, the coin has risen 26.34%.

Against BTC and ETH, ATOM rose 23.54% and 22.27%, respectively. 

Other notable gainers over 24 hours included Tezoz (XTZ), Polkadot (CRYPTO: DOT), and Harmony (CRYPTO: ONE)

XTZ shot up 16.75% to $7.06, DOT rose 15.45% to $36.27 and ONE gained 13.97% to $0.204 within the interval.

Why It Matters: South Korea has set Sept. 24 as a deadline for international and native exchanges to register as authorized buying and selling platforms however native platforms are struggling to fulfill the circumstances, reported Financial Times.

See Also: US Should Declare Bitcoin As Legal Tender, Says 1 In Every 4 Americans: YouGov Survey

The regulatory requirement may reportedly doubtlessly wipe out $2.6 billion with virtually 40 out of South Korea’s 60 cryptocurrency operators anticipated to be shuttered.

Meanwhile, cryptocurrency analyst Willy Woo mentioned Sunday that “minnows” are persevering with to pile on BTC following comparable motion by the whales.

Cryptoquant famous a fall in BTC change reserves to a three-year low. An enhance on this metric implies a rise in BTC provide for promoting, altcoin buy, and margin buying and selling.

Cryptocurrency dealer Michaël van de Poppe made a reference to ATOM, by merely tweeting “$ATOM” on Sunday.

The dealer additionally made one other transient touch upon the cryptocurrency markets noting, “it’s a bull market.”

Read Next: Elon Musk Sends Floki-Themed Dogecoin Knock-Off Soaring 1000% With Single Tweet

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About the Author: Daniel