LDO, ENS and other Ethereum-related tokens rise after positive news on the ETH-SEC front (market watch)

Bitcoin price action was quite painful yesterday as the asset plunged twice to a monthly low of $64,000 before it managed to regain some ground.

Several altcoins have bounced back after yesterday’s market-wide plunge, especially those with some sort of connection to the Ethereum ecosystem.

ETH, ENS, LDO on the bounce

Perhaps the biggest news in the crypto industry today comes from ConsenSys, as the company announced at X that the US Securities and Exchange Commission has notified it “that it is closing its investigation into Ethereum 2.0.” The development, which ConsenSys labeled a “big win for Ethereum developers,” resulted in immediate gains for most ETH-related tokens.

Lido’s native coin DAO has soared over 15% on a daily basis to just over $2.3. ENS has soared 13.5% and is now trading above $26.

ETH is also slightly in the green, but in a more modest way. The second largest crypto is up about 3% daily and is near $3,550.

Other larger-cap alternatives with notable increases today include PEPE (8%), HBAR (5%), FET (8.5%), RNDR (8%), ADA (3%), LINK (4%), UNI ( 5%). ), and MATIC (3.5%).

Instead, TON has fallen 6% in the last 24 hours and is now below $6.9.

Cryptocurrency Market Overview. Source: QuantifyCrypto BTC Bounces Above $65,000

Perhaps fueled by growing outflows from U.S. spot Bitcoin ETFs, the price of the underlying asset has lost a lot of traction since last week, when it soared as high as $70,000 on a few occasions.

Their inability to overcome this psychological resistance caused immediate pain for the bulls. The weekend was less volatile, with BTC holding just above $66,000 before stopping at $67,000 on Monday.

The rejections caused more pain and bitcoin fell to a two-month low of $64,000 yesterday. However, it has recovered more than a grand since then and now sits inches above $65,000.

Its market cap has shrunk to $1.285 trillion, while its hold on the highs has shrunk to 51.5%

Bitcoin/Price/Chart 19.06.2024. Source: TradingView SPECIAL OFFER (Sponsored) Binance Free $600 (Excludes CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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