The cryptocurrency market is trading in the green on Tuesday morning, with Bitcoin attempting to push past the psychological level of $50,000. The coin strengthened on Monday, up over 15 percent over the last week.

Other cryptocurrencies, or altcoins, as they are called were trading mixed today. Ether, the coin linked to the Ethereum blockchain, has surged over one percent. It is also up over 15 percent in the last seven days.

Binance Coin, which is currently the third-largest coin by market cap is over 2.5 percent up. Cardano, which slipped to the fourth position on the table a week ago was trading slightly below the flatline. Solana has risen to the sixth rank on the table, but it was trading over 1.5 percent lower on Tuesday. Dogecoin, however, has outperformed even Bitcoin as it rose over 11 percent.

Top 10 cryptocurrencies by market cap

Cryptocurrency Current market price 24-hour change
Bitcoin $49,313 3.47%
Ether $3,388 0.90%
Binance Coin $426 2.49%
Cardano $2.20 -0.04%
Tether $0.9997 -0.07%
Solana $165 -1.66%
XRP $1.04 0.59%
USD Coin $0.9993 -0.04%
Dogecoin $0.2405 9.53%
Polkadot $31.10 0.02%

As per data from coinmarketcap.com, Bitcoin’s total market cap on Monday declined by nearly two percent to $2 trillion. Meanwhile, Bitcoin’s dominance in the market rose by 0.34 percent to 42.64 percent. Axie Infinity (AXS) surged 40 percent on Tuesday, making it the most trending coin on CoinMarketCap.

Meanwhile, analysts are waiting for the US Securities and Commission (SEC) to approve a bitcoin exchange-traded product (ETF). Gary Gensler, SEC Chief, would rather give approval to a futures-backed ETF, than the one based on spot price though. Whichever option gets approval, it would be positive news for the market, some analysts said.

Regardless, traders continued to be cautious ahead of the US Treasury Department report on stablecoins. Japan’s crypto market is also undergoing a regulatory crackdown. On Sunday, Nikkei reported Japan’s tax authorities are conducting an audit of several individuals over crypto assets.

Here’s a cryptocurrency news wrap

India’s crypto market grew more than 640% over the past year: Chainalysis

India’s crypto market grew over 640 percent over the past year, while that of Pakistan surged over 700 percent during the same period, data from Chainalysis showed. The report said India, Pakistan and Vietnam are leading this crypto expansion in central and southern Asia, according to a Bloomberg report.

Cryptocurrencies post inflows for 7th straight week led by Bitcoin

Crypto investment products recorded an inflow for the seventh straight week, data from CoinShares showed, indicating that institutional investors are warming towards the asset class. Supportive statements from regulators also helped the sentiment. Inflows to the sector were $90.2 million last week, led by bitcoin which snagged $69 million. Bitcoin recorded its third straight week of inflows.

Coinbase phishing attack hits 6,000 customers

Coinbase recently announced over 6,000 of its customers were targeted in a phishing attack. The attack took place as criminals, pretending to be the exchange in emails, warned the users were locked out of their accounts. This was a ruse to get into their accounts. The company has compensated users whose funds were stolen.

El Salvador’s day trading frenzy

A month after legalising crypto transactions, El Salvador mined its first coin using volcanic energy. However, the citizens have now resorted to using bitcoin as a way to speculate. According to a Bloomberg report, everyone is trying to make money by capitalizing on the market’s erratic movements.

‘Bull run to last for six months’

PlanB, the creator of the stock-to-flow model, said the current crypto bull run will last for six more months, though it is not showing any sign of weakness yet.

Top 3 trending crypto assets

Cryptocurrency Current market price 24-hour gain
Axie Infinity $139.41 1.53%
Ronin Gamez $0.001289 45.21%
BabySpaceFloki $0.000000000809 -8.22%

 

Top 3 gainers

Cryptocurrency Current market price 24-hour gain
Flokinomics $0.00000003879 622%
Dogeswap $0.00000003879 191%
Goldpoker $0.007879 157%

 

Top 3 losers

Cryptocurrency Current market price 24-hour loss
Steak Token $0.082 -98%
Mini Floki $0.00000004386 -73%
GranX Chain $0.2374 -70%

 (Data is sourced from coinmarketcap.com)

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