Uniswap Drops 8% Daily, Bitcoin Battles for $19K (Market Watch)

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

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

Bitcoin Battles for $19K

This week has been unlike the last in terms of market volatility. Bitcoin went through a rollercoaster seven days ago when it fell from $19,000 to $18,200 within minutes of the US CPI numbers and then shot up to $20,000.

However, the asset calmed down by the weekend and returned to familiar ground, around $19,000. Trading events on Monday were similar. The landscape began to change on Tuesday as it pumped to $19,600, but was stopped well short of $20,000.

Another short peak came yesterday, but was a smaller one. As such, BTC bounced back to $19,000. As of now, it’s close to that number again, but recent reports suggested that there could be more pain on the horizon.

The market value has taken a small hit and stands at 365 billion dollars. The silver lining is that its dominance over altcoins has exceeded 40%.

UNI falls hard

The altcoins have not enjoyed the last 24 hours and most of them are covered in red.

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

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

More losses come from Cardano, Solana, Polkadot and MATIC – all down by up to 7%. UNI, on the other hand, has dumped 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-caps in a similar state, the overall crypto market capitalization has seen $25 billion dollars lost in one day, and the metric is just inches above $900 billion.