ETH Liquid Staking Tokens Fall 8% Daily, Bitcoin Stalls at $28K: Weekend Watch

The low trading volumes over the weekend have resulted in a stalled bitcoin performance as the asset sits at around $28,000.

Most altcoins are slightly in the red today, while two of the biggest ETH floating staking tokens – LDO and FXS – have fallen hard.

BTC Drilling to $28K

The work week brought a lot of volatility, especially the start when BTC fell by about a thousand after the fake news surrounding Binance and the CEO. As it turned out that Interpol had not actually issued a red notice on CZ, BTC recovered all losses and even went on the offensive towards $29,000.

However, the asset failed to challenge that level and was stopped $200 away from it. The subsequent rejection drove it further south, and BTC fell below $28,000 just a few days later.

Since then, it has not been able to bounce back significantly and is trading in a tight range between $27,800 and $28,200. The last 24 hours were no different, with BTC currently sitting just below $28,000.

Its market value has fallen below $540 billion, while its dominance over the alts has regained some ground and stands at just over 46%.

LDO, FXS Dump Hard

Ethereum was among the best performers during the week, which culminated in surpassing $1,950 for the first time in nearly eight months. However, ETH was unable to sustain this run and has fallen over $100 since then, currently trading below $1850.

Two of the most popular ETH floating staking tokens – LDO and FXS – have posted even bigger losses today. Both assets are down about 8% to $2.32 and below $9, respectively.

Most altars with larger caps are also in red, albeit in a less painful way. This includes BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC, SHIB and AVAX – all of which have fallen by up to 3% in a day.

The total crypto market cap has lost around $15 billion in a day and is down to $1.170 trillion.