The cryptocurrency markets remained unchanged heading into Wednesday despite a dropping in US equities.
While a dip did occur Tuesday evening, a rebound brought total market capitalisation back to just below the US$1tn barrier.
Bitcoin managed to regain the US$20,000 support after heading south on Tuesday evening, while Ethereum added around 2%, bringing its exchange value above US$1,600.
Avalanche’s AVAX token clinged onto US$20, a positive result for a project facing shock whistleblower claims.
A few other network tokens added some green candlesticks, namely Cardano, Polygon and Tron.
On the other hand, Solana, and Polkadot saw moderate losses, while EOS’ market cap dropped nearly 5% to US$1.4tn.
It has been a strong morning for decentralised finance (DeFi), with Lido, Curve and Convex Finance all adding 5% or higher, though the same could not be said for Uniswap or MakerDAO.
Total volumes locked across all DeFi protocols went up almost 1%.
In the news
In the US, the The House Committee on Oversight and Reform has ramped up pressure on key regulators and digital asset exchanges to provide information pertaining to consumer safety against scams and fraud.
Regulators including the Department of Treasury, Commodity Futures Trading Commission and the Securities and Exchange Commission, alongside exchanges Coinbase, FTX, Binance.US and Kraken, were targeted in a series of letters.
Crypto.com has commenced legal action against a customer whom accidentally netted US$10.5mln following an admin error.
The customer has allegedly spent the majority of the sum.
A judge in Victoria, Australia’s Supreme Court has ordered the sale of an A$1.35mln property purchased with the error.