Bitcoin (CRYPTO: BTC) and other major cryptocurrencies were in negative territory on Sunday night as the global cryptocurrency market cap fell 3.16% to $ 2.08 trillion.
What happened: The apex cryptocurrency was down 1.92% to $ 47,018.30 on a 24-hour basis. Over a seven-day period, BTC rose 2.33%.
See also: How to buy Bitcoin (BTC)
Ethereum (CRYPTO: ETH), the second largest coin by market cap, fell 3.56% over 24 hours to $ 3,285.97. For the week, ETH lost 3.03% in terms of price.
Meme-cryptocurrency Dogecoin (CRYPTO: DOGE) fell 4.59% to $ 0.23. The Shiba Inu-themed coin has fallen 7.88% so far this week.
Cardano (CRYPTO: ADA) and Solana (CRYPTO: SOL), both saw steep drops 24 hours before press time.
ADA fell 5.37% to $ 2.23, while SOL plunged 12.28% to $ 148.64 during the period.
The best 24-hour Sunday night winner was NEAR Protocol (CRYPTO: NEAR), which rose 13.28% to $ 10.02 on a 24-hour basis. On a week basis, NEAR increased 14.09%.
The Decentralized Apps Platform token rose 15.85% and 17.79% over 24 hours against BTC and ETH respectively.
Other notable 24-hour winners at press time were Audius (CRYPTO: AUDIO), Celo (CRYPTO: CELO), and Cosmos (CRYPTO: ATOM).
AUDIO jumped 10.12% to $ 2.96, CELO rose 9.97% to $ 5.78 and ATOM gained 7.18% to $ 41.90 in the time frame.
Why is this important: After showing strength on Saturday, Bitcoin has taken a comfortable stance against the dollar and is hovering around $ 47,000.
See also: Ethereum Rival Avalanche hits all-time high: here’s why its founder doesn’t want Elon Musk’s help to raise the price
Amsterdam based cryptocurrency trader MichaÃ«l van de Poppe said Sunday noted BTC price action on the Chicago Mercantile Exchange.
This happens quite often in the markets.
Light rally Saturday for #Bitcoins, descending at the close of the CME on Sunday.
CME closed at $ 47,490 on Friday, it looks like we’ll be opening there as well later today.
– MichaÃ«l van de Poppe (@CryptoMichNL) September 19, 2021
Meanwhile, the fear of an intensification of regulatory repression remains intact as a backdrop. Friday, The New York Times called the “rush to oversee stablecoins” coupled with the “industry lobbying push to avoid regulation or side with profitability” as “the most important conversation in Washington financial circles this year “.
The New York Times coverage comes at a time when the United States Securities and Exchange Commission and its chairman Gary Gensler continue to widen the regulatory net to trap decentralized finance and stablecoins.
On the altcoin side, Litecoin Foundation Director Jay Milla said the number of active addresses on Litecoin (CRYPTO: LTC) has exceeded that of Bitcoin Cash (CRYPTO: BCH) and Dogecoin.
Jay said on Twitter that growth in wallet activity on the Litecoin network has jumped to 450,000, surpassing that of other larger cryptocurrencies.
Meanwhile, Wormhole said over the weekend in an emailed note that the Ethereum-Solana bridge is now operational.
Migration between ETH and SOL blockchains will be supported in Wormhole V2, V1 users will be able to swap their assets for V2 assets at a 1 to 1 rate through the wormhole website.
“With over $ 150 billion TVL in tâThe top five blockchains alone, the demand for cross-chain bridges for digital asset exchanges and liquidity is increasingly in demand,â according to the note.
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