Why Bitcoin Ethereum and Polkadot jumped today? Many factors influenced their price moves. First, the US released its second quarter GDP, which was down by 0.9% from a year ago. This news fueled crypto prices to surge. Secondly, investors have piled back into riskier assets. And thirdly, they are getting better news on regulatory reform. Those are just a few of the key drivers of today's crypto markets.

The digital asset industry has been growing rapidly since 2008, when bitcoin was introduced, and has continued to expand dramatically in recent years. Now worth over $3 trillion, it has created thousands of projects and applications that are categorized into a variety of Industry subsets. This growth has created a great deal of complexity, and CoinDesk Indices has taken steps to help investors make sense of the industry and stay ahead of market trends. By introducing a DACS, CoinDesk plans to standardize the industry's digital asset classification system and help investors understand the various industries that make up the digital asset industry.

Despite the heightened interest in cryptocurrencies, the CoinDesk DACS classification has caused some to panic. After the release of a new standardized classification system, investors are worried about an upcoming market collapse. With this in mind, CoinDesk has introduced the new DACS standard that categorizes digital assets in order to facilitate the transfer of money across borders.

While cryptocurrencies have seen gains in recent weeks, it is difficult to make a definitive call on when a cryptocurrency will reach a critical stage. Nevertheless, the CoinDesk DACS, an industry standard for asset classification, and the latest trends in digital asset trading make these predictions difficult to pin down. The price of Bitcoin, Ethereum, and Polkadot are all currently trading higher, with a little more volatility to come.

While the U.S. President's recent executive order on crypto does not impose new regulations, it does direct federal agencies to better communicate how these digital assets work. While the order is vague in terms of its exact position, it could result in additional regulation down the road. In addition to the DACS, the DOGE token outperformed the CoinDesk 20 in April. The DOGE token experienced a 20% price rally earlier this week, but has since lost most of its gains.

The leveraged long trades on Bitcoin are dragging down the entire crypto market today. Currently, over $100 million has been liquidated in a ten-minute span and more than $1.78 billion in a twelve-hour span. Although Bitcoin is still the leader in the crypto market, its volatility has impacted other coins as well, such as EOS which is down 26%.


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