Crypto Market Today: Bitcoin and Ethereum Experience Downturn, While PEOPLE and SEI Tokens Surge

Thursday Morning Market Overview

The crypto market witnessed a bearish tone on Thursday morning as prominent cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) faced a downturn alongside Pepecoin (PEPE) and Luna Classic. However, amidst the red, ConstitutionDao (PEOPLE) and Sei Network (SEI) emerged as strong performers, showcasing resilience in the market.

Matrixport Report Impact

The primary catalyst behind the market decline was a report from Matrixport, released yesterday, suggesting that the Securities and Exchange Commission (SEC) might not approve the Bitcoin Spot Exchange-Traded Fund (ETF) in January.

Price Movements

Bitcoin (BTC) experienced a 4.53% decrease, settling at $43,100, with a market cap of $844 billion. Ethereum (ETH) also saw a decline of 5.62%, trading at $2,235, and holding a market cap of $268 billion over the last 24 hours.

PEOPLE and SEI Tokens Stand Out

Contrary to the overall trend, ConstitutionDao (PEOPLE) and Sei Network (SEI) exhibited robust performance:

  1. ConstitutionDao (PEOPLE): The PEOPLE token witnessed an impressive surge of 82.27%, reaching $0.02423 in the last 24 hours, with a market cap of $125.01 million.
  2. Sei Network (SEI): SEI demonstrated a noteworthy increase of 12.03%, reaching $0.8139 in the last 24 hours, accompanied by a market cap of $1.88 billion.
Source: Coinmarketcap

Pepecoin (PEPE) Faces Decline

In contrast, the popular memecoin Pepecoin (PEPE) experienced a decline, with its price dropping by 11.69% to $0.000001221. The market cap for Pepecoin currently stands at $510 million

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