Major coins traded in the green on Wednesday despite the Commodity Futures Commission, or CFTC, lawsuit against cryptocurrency exchange Binance.

What Happened: Bitcoin (CRYPTO: BTC) added about 72% this year, making it one of the best-performing cryptos of the year with its highest quarterly gain in two years. 

At the time of writing, the global crypto market capitalization stood at $1.18 trillion, an increase of 2.16% over the previous day.  

U.S. stocks markets continued to climb on Wednesday, with the S&P 500 and Nasdaq closing up 1.4% and 1.7%, respectively. 

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SEC also has brought charges against cryptocurrency platform Beaxy and its executives, alleging that they failed to register as an exchange, broker, or clearing agency. After which, the company said it officially closed its doors.

Pseudonymous analyst Kaleo believes that Bitcoin has plenty of room to grow, as it is under $30K.

Despite the current celebration surrounding the impressive price of BTC, analyst Altcoin Sherpa cautions that we are still just at range highs. “Unless we see more continuation, this is probably a decent short area with clear invalidation. High time frame close above $29,000 and things probably rip past 30,000 quick[ly].”

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