Cryptos Brace For Debt Deal Outcome

Cryptocurrencies remained close to the flatline as the debt limit deadlock progresses to the stage of Congressional approval. Amidst relief that a deal could potentially avert a catastrophic default, caution prevails as markets brace for the likely impact on liquidity that the debt limit hike could entail.

Overall crypto market capitalization is steady at $1.16 trillion amidst fading worries of a default.

Bitcoin traded above the $28k range but has since corrected to $27,791.72. The lead cryptocurrency shed 0.34 percent overnight but is still holding on to gains of 1.8 percent over the past week. The 24-hour trading range was between $28,044.76 and $27,563.88.

Ethereum traded between $1,916.57 and $1,879.08 in the past 24 hours. It is currently changing hands at $1,906.05, having gained 0.36 percent overnight and 3.01 percent over the past week.

91st ranked SingularityNET (AGIX) topped the price charts with an overnight rally of 5.3 percent. 32nd ranked Lido DAO (LDO) followed with gains of 5.1 percent. 6th ranked XRP (XRP), 30th ranked Filecoin (FIL), 71st ranked IOTA (MIOTA), 39th ranked Quant (QNT) and 47th ranked Render Token (RNDR), all gained more than 3 percent in the past 24 hours.

81st ranked Optimism (OP) is the biggest laggard, shedding 8.2 percent in the past 24 hours amidst a planned unlock of the token of the Ethereum scaling protocol. 76th ranked Sui (SUI) and 77th ranked Pepe (PEPE) have both declined more than 6 percent. 99th ranked Convex Finance (CVX), 27th ranked Toncoin (TON), 90th ranked Flare (FLR) and 51st ranked Fantom (FTM), have all declined more than 3 percent overnight.

91st ranked SingularityNET (AGIX) also topped weekly gains with a 19 percent rally whereas 77th ranked Pepe (PEPE) topped weekly losses with a 14-percent erosion.

52nd ranked Conflux (CFX) tops year-to-date gains with a rally of 1330 percent in 2023. 98th ranked PancakeSwap (CAKE) tops year-to-date losses with a decline of 45 percent in 2023.

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by Avila SebastianRTTNews Staff Writer

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