Following the recent volatility, bitcoin managed to sustain above $ 20,000 and even spiked towards $ 21,000. The altcoins have also charted some impressive gains in the past 24 hours, with XRP leading the race.
Bitcoin Eyes $ 21K
After last week’s massive correction, which culminated in an 18-month low at $ 17,500 on Sunday, the bulls have been trying to recover some of BTC’s lost ground.
This resulted in a jump to $ 21,500 a few days ago. However, bitcoin failed there and even dipped below $ 20,000 after Jerome Powell – Chairman of the Federal Reserve – reaffirmed the central bank’s plans to continue raising interest rates in desperate attempts to fight the skyrocketing inflation.
Nevertheless, BTC recovered quickly to its sub- $ 20,000 ride and increased above it yesterday. The past 24 hours brought another leg up, and the asset currently sits just inches away from $ 21,000. Consequently, its market cap has neared $ 400 billion once again, but its dominance has declined to below 43%.
Notable Bitcoin News
Binance’s CEO believes bitcoin will eventually chart a new all-time high above $ 69,000, but it could take up to two years to do so.
The legendary legacy investor Mark Mobius called bitcoin a “leading indicator,” which is followed by the Dow Jone and other stock market indices.
The US arm of the world’s largest exchange – Binance US – started offering zero trading fees for BTC spot pairs.
XRP Stands Out
Most of the alternative coins continue with their attempts to recover some of the recent losses.
Ethereum has been fighting with the $ 1,100 line for several days but seems well above it now after another 4.5% daily increase.
BNB has tapped a multi-day high at just over $ 230, following a price jump of 3.3% in a day. Cardano, Solana, and Polkadot are up by similar percentages, to $ 0.5, $ 38, and $ 8, respectively.
After announcing a new BTC bridge yesterday, Avalanche has soared by 9% and has neared $ 20.
Nevertheless, Ripple’s native token stands out as the most impressive gainer from the larger cap alts. XRP has surged by over 13% and now trades at $ 0.37.
MATIC is once again up by double-digits after stealing the show yesterday. OKB, ATOM, NEAR, XLM, ALGO, XMR, THETA, and AXS have seen notable gains as well. The crypto market cap is up by $ 30 billion and is close to $ 950 billion.
Altcoin / Industry News
In the latest hack against cross-chain bridges, Harmony’s Horizon was exploitedwith over $ 100 million worth of ETH stolen.
The global e-commerce giant – eBay – continues with its NFT efforts by purchasing such a marketplace – KnownOrigin.
Philip Hammond – a former UK Chancellor – noted that the kingdom should embrace cryptocurrency and its underlying technology in order to stay close to other nations.
Binance Free $ 100 (Exclusive): Use this link to register and receive $ 100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $ 7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Original Article reposted fromSource link
Disclaimer: The website autopost contents from credible news sources and we are not the original creators. If we Have added some content that belongs to you or your organization by mistake, We are sorry for that. We apologize for that and assure you that this won’t be repeated in future. If you are the rightful owner of the content used in our Website, please mail us with your Name, Organization Name, Contact Details, Copyright infringing URL and Copyright Proof (URL or Legal Document) aT spacksdigital @ gmail.com
I assure you that, I will remove the infringing content Within 48 Hours.