Bitcoin rise source=freepik
Crypto Today: Bitcoin Hits $97K, SHIB Demand Falls, TON Rises After Tornado Cash Ruling
The cryptocurrency market saw big changes on Thursday as Bitcoin (BTC) soared past $97,000, but the overall market value dropped by $60 billion, settling at $3.2 trillion.
Bitcoin Takes the Lead
Bitcoin’s market dominance grew by 0.40%, showing that it outperformed other cryptocurrencies. Its price rose 4%, starting at $91,947 on Wednesday and crossing $97,000 on Thursday.
Liquidations Hit $263 Million
Crypto liquidations reached $263 million, with $145 million in long trades wiped out.
Altcoin Updates
Toncoin (TON)
Toncoin was a top performer among altcoins, benefiting from Bitcoin’s rally.
Monero (XMR)
Monero’s price increased by 2%, boosted by positive legal news for decentralized platforms.
Crypto Today: Bitcoin Hits $97K, SHIB Demand Falls, TON Rises After Tornado Cash Ruling
The cryptocurrency market saw big changes on Thursday as Bitcoin (BTC) soared past $97,000, but the overall market value dropped by $60 billion, settling at $3.2 trillion.
Tornado Cash
A U.S. court ruled that smart contracts like those used by Tornado Cash can’t be treated as property, challenging earlier sanctions. This decision was seen as a win for blockchain independence.
Tornado Cash Token Surges
The ruling caused Tornado Cash’s token (TORN) to jump over 380% to $35.7 before settling at $13.7.
While the news was good for privacy-focused projects like Monero (XMR) and Toncoin (TON), the court also clarified that illegal activities like money laundering remain prohibited. Tornado Cash developer Alexey Pertsev is still in custody.
Shiba Inu (SHIB) Loses Demand
On the other hand, demand for Shiba Inu (SHIB) dropped as traders focused on Bitcoin and projects tied to privacy or AI, such as Render (RNDR) and Fetch.ai (FET).
