The crypto market is witnessing a mixed performance as some coins are surging while others are declining. Bitcoin, the largest cryptocurrency by market cap, is trading at $27,058.45, up 0.69% in the last 24 hours1. Ethereum, the second-largest coin, is also in the green zone, with a price of $1,561.97 and a gain of 0.44%1. Binance Coin, the native token of the Binance exchange, is one of the top performers, with a price increase of 1.56% to reach $209.781.
However, not all coins are enjoying the bullish momentum. XRP, the fourth-largest cryptocurrency by market cap, is down 0.58% to trade at $0.489006981. The coin is facing legal troubles as the US Securities and Exchange Commission (SEC) has filed a lawsuit against its parent company, Ripple, for allegedly selling unregistered securities2. The SEC has also been accused of inaction over Coinbase’s rulemaking petition regarding digital asset classification3. Coinbase has renewed its push for the SEC to act on its long-standing petition that seeks clarity on the regulatory status of various crypto assets3.
The crypto market is also witnessing some interesting developments in the decentralized finance (DeFi) and non-fungible token (NFT) sectors. Stars Arena, a web3 social media app built on Avalanche, has relaunched but with a pause on trading functionality4. The app allows users to create and trade NFTs of celebrities and influencers4. Meanwhile, Decentraland Foundation executive director Yemel Jardis believes that as people become more educated about NFTs, the focus will shift from speculative buying to genuine utility. He also said that NFTs can be used to create immersive experiences in virtual worlds like Decentraland.
The crypto market is constantly evolving and changing, with new projects and innovations emerging every day. To stay updated with the latest news and trends in the crypto space, you can visit CoinDesk, CoinMarketCap, TradingView, or Headlines by CoinMarketCap.