On Wednesday, the cryptocurrency market had uneven trading, with meme tokens making significant gains and crypto-heavyweight Bitcoin remaining almost unchanged. Dogecoin increased by more than 8%, while XRP increased by 4%. Shiba Inu and Polkadot both contributed 3%. Avalanche and Polygon both had a 1% decline.
The market capitalization of all cryptocurrencies rose slightly to $1.15 trillion, increasing less than 1% over the previous day. However, the overall trade volume decreased significantly.
The blockchain startup Dragonchain has been charged by the US Securities and Exchange Commission for failing to disclose more than $16 million in securities offerings involving crypto assets over five years.
After the Polkadot-based decentralized finance (DeFi) network burnt more than 1.2 billion USD tokens created by exploiters over the weekend, Acala’s native stablecoin, aUSD, almost regained its peg to the US dollar.
In other news, Jump Crypto is working on upgrading a crucial component of Solana’s infrastructure to increase the network’s throughput and dependability, which periodic slowdowns and outages have plagued.