Crypto News Asia: Bitcoin, Ethereum Surge While the Crypto Market Cap Soars a Little

Good morning Asia, Here’s the top crypto news for today:

After a quiet weekend, the prices of top cryptocurrencies saw gains on Monday.

Bitcoin failed to rise beyond $23,500 and maintained a sluggish trend throughout the weekend. In the meantime, the altcoins also followed the star crypto and maintained a narrow trend. However, the market capitalization slightly raised to $1.07 trillion with a rise of 1.27% but the trading volume remain slashed by 2.63%. Bitcoin dominance is currently 42.19%, with an increase of 0.01% over the day. 

While Ethereum (ETH) maintained stability within the $1,600 range, other major altcoins such as Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) experienced a mix of gains and losses. Among them, NEO token saw the highest increase, with a surge of more than 11 percent in the past 24 hours.

Top Crypto News

• Solana network registers the first network outrage for 2023 after recording nearly 8 network halts in 2022

The network recently faced a slowdown in block production following an upgrade in the validator software, which disrupted the transactions. This further disrupted the transactions and led to the validators downgrading the software. However, the developers restarted the network twice as they had chosen the incorrect point to resume prior. 

• IMF is in the mood to regulate the Crypto-space instead of an outright ban

In the wake of the G-20 summit that is to be held in India this year, the IMF managing director, Kristalina Georgieva said that the agency is in favor of regulating the crypto-space than banning them.

• Ukraine received more than $70 million in donations in crypto

Ever since Russia began its ‘special military operations’ in Ukraine, the world has imposed multiple sanctions against Russia and donated heavily to Ukraine. Interestingly, Ukraine received $28.9 million in ETH, $22.8 million in BTC, and $11.6 million in Tether.