8/13/2023 0 Comments Alt coin market capHence, the FUD around the crypto is very high after the SEC vs Binance lawsuit which is currently acting as a fuel to the fire. Besides, the majority of the altcoins have less than $100 million in daily trading volume. The gains are expected to continue into the month of June. Moreover, with that $1.3 billion could be dumped on the open market which is a huge. Over the last 30 days, the price of XRP has increased by 24.8 and is the only bullish coin in the top 10 cryptos ranked by market cap. Presently, the trading volume is at multi-year lows, which may further increase the volatility. The market markers are exiting the market, the US exchanges are delisting cryptos, and VCs are not funding new or existing projects. It then looked to do the same with the next crucial support level at 496.684 billion, but was unable to flip the level into resistance. The second scenario appears to be more likely, as the impacts have already been seen. The total altcoin crypto market cap plummeted below the key support level at 550.683 billion over the past 24 hours. This may compel the companies to exit the US market inviting a liquidity crisis in trading and funding from VCs.
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