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A Quick Look at the Cryptocurrency Market on January 26

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Bitcoin and Altcoins

The top cryptocurrencies once again witnessed a down trading day. Bitcoin has dropped about 6.4% over the past 24 hours. It was trading at $10,605.5 per ounce as of January 26 at 7:30 AM. The market cap for Bitcoin (ARKW) was $178 billion, and its dominance over other cryptocurrencies is at 34.8%.

The other top cryptos, Ethereum and Ripple, dropped 4.4% and 11.45%, respectively, during the past day. Ethereum traded at $1,014.8, and Ripple was at $1.18. Bitcoin Cash, Cardano, Stellar, and Litecoin have also declined 8.4%, 11.3%, 9.3%, and 5.9%, respectively.

Among the biggest losers of the day were KuCoin Shares, NEM, Crptonex, and Dentacoin, which were down 19.3%, 18.7%, 18%, and 17.7% respectively. The cryptocurrency market saw its top gainers, DigixDAO, GameCredits, Hshare, and MediBloc, rise 33.2%, 5.8%, 5.3%, and 4.8%, respectively.

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SEC’s refrain

The SEC has been concerned about the listing of a blockchain-based ETF. However, investors have been sensing the involvement of the blockchain in ETFs like Amplify Transformational Data Sharing ETF (BLOK) and the Reality Shares Nasdaq NexGen Economy ETF (BLCN). The SEC has crushed dreams for a dozen cryptocurrencies to launch as ETFs. This article offers more insight into the ETF details.

Venezuela’s petro

Venezuela is planning to launch its petro cryptocurrency through a token sale. During its presale, the cryptocurrency would only be available for institutional investors, and they would accept cryptocurrencies and hard currencies as the form of exchange. The presale would be for 38 million tokens. After that, an additional 44 million would be made available to the general public.

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