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Uniswap Slumped 8% Daily, Bitcoin Fights for $19K (Market Watch)



Uniswap is among the poorest performers on a 24-hour scale, perhaps fueled by the misunderstandings with Binance.

The primary cryptocurrency continues its flirt with the $19,000 level, but it fights to stay above it this time.

The altcoins are in the red on a daily scale, with Uniswap losing the most value following the recent misunderstandings with Binance.

Bitcoin Battles for $19K

This week has not resembled the previous one in terms of market volatility. Bitcoin went through a rollercoaster seven days ago when it dropped from $19,000 to $18,200 in minutes following the US CPI numbers and then shot up to $20,000.

However, the asset calmed when the weekend came and returned back to familiar ground, around $19,000. The trading events on Monday were similar. The landscape started to change on Tuesday when it pumped to $19,600 but was stopped way ahead of $20,000.

Another brief spike came yesterday but was a minor one. As such, BTC went back down to $19,000. As of now, it stands close to that number once more, but recent reports suggested that there might be more pain on the horizon.

Its market capitalization has taken a slight hit and sits at $365 billion. The silver lining is that its dominance over the altcoins has gone above 40%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

UNI Drops Hard

The alternative coins have not enjoyed the past 24 hours, with most of them being covered in red.

Ethereum continues to struggle to reclaim $1,300, and another 1% decline since yesterday has pushed the asset to well below that level.

Binance Coin has seen 2.25% gone in a day and is down to $265. Ripple, Shiba Inu, and Dogecoin have declined by up to 5%.

More losses come from Cardano, Solana, Polkadot, and MATIC – all of them have declined by up to 7%. UNI, on the other hand, has dumped by more than 8% daily following the latest Twitter spat between Uniswap’s founder and the CEO of Binance.

With many of the lower- and mid-cap alts in a similar state, the overall crypto market cap has seen $25 billion shed in a day, and the metric stands just inches above $900 billion.

Crypto Market Overview. Source: Quantify Crypto
Crypto Market Overview. Source: Quantify Crypto

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