Ethereum seems to have lost some pre-Merge goodwill, having dropped another 1.5% this morning, bringing its exchange price close to the mid-US$1,500 point.
Bitcoin fell below US$21,000, having lost around 2%; similar price action was observed with Ripple XRP, Cardano, Dogecoin, Polkadot, and other blockchain network tokens.
Solana mounted greater losses of nearly 5%, dragging its market capitalisation down to US$12bn.
The EOS network, on the other hand, continued to rally, adding another 15% to its market cap, which now sits at close to US$1.5bn.
The rally comes amid a hard fork and rebranding campaign.
Cosmos also added green candlesticks, with the highly scalable blockchain network adding 7.5%.
Checking in on the Celsius short squeeze, the bears remain firmly in charge, having driven CEL token down another 25% in the past 24 hours.
In the decentralised finance (DeFi) space, Curve and Lido added 5% and 3.5% respectively, although DeFi in general is trending downwards, with total volumes heading towards the US$60bn point.
News headlines
“We can dispense with the idea that crypto lending isn’t subject to regulation.”
That was the firm line laid down by Securities Exchange Commission chair Gary Gensler in a recent op ed, in the latest sign that the US regulators want to bring digital assets in line with securities law.
Invesco – the investment management giant with some US$1.5tn in assets under management – has launched a metaverse fund targeting small, medium, and large-cap companies, according to Citywire.
Invesco’s fund manager Tony Roberts predicts that “virtual and augmented reality could deliver a £1.4 trillion boost to the global economy” by 2030.
Australian treasurer Jim Chalmers announced a "token mapping" campaign to catalogue the how and why the country uses digital assets.
The announcement is seen as the first step to enhanced regulation.
"With the increasingly widespread proliferation of crypto assets, to the extent that crypto advertisements can be seen plastered all over big sporting events, we need to make sure customers engaging with crypto are adequately informed and protected," Chalmers said.