This weekend resembles quite a lot the previous one as there are little-to-no substantial movements in the crypto market. Bitcoin has stalled around $21,000, while most altcoins are just slightly in the red as the trading volume has plummeted to a monthly low.
Bitcoin Sits Tight at $21K
As last weekend was coming to its end, including Monday, which was the national US holiday, the primary cryptocurrency went on the offensive and spiked to $20,000. It took a few attempts, but it finally broke above that level and kept charting new heights in the following days.
Thursday saw the most significant price increase as BTC jumped to just shy of $22,500. This became the asset’s highest price level since mid-June.
The bulls were expecting another leg up at this point but failed and bitcoin retraced by a few hundred dollars. Yesterday it dipped below $22,000 and now sits just over $21,000.
It’s worth noting, though, that the overall trading volume slumped yesterday to its lowest levels in just over a month, according to Bitcoinity.
Despite the minor daily retracement, BTC’s market cap still stands above $400 billion, and its dominance over the altcoins is just over 43%.
Altcoins Stand Still
Typically known for their higher levels of volatility, the altcoins have performed rather unexpectedly in the past few days with little-to-no movements.
Ethereum has lost around 3% of value in the past day and has dipped below $1,200. Just a few days ago, the asset charted a multi-week high at well over $1,250.
BNB, Solana, and Polkadot are down by similar percentages in a day to under $240, below $40, and $7.1, respectively.
Ripple, Cardano, Dogecoin, Tron, and Avalanche are also slightly in the red, while Shiba Inu is up by just over 1%. Litecoin has gained the most from the larger-cap alts with a 4% increase.
The cumulative market cap of all crypto assets is at almost the same level as yesterday, just under $950 billion.
SIX Network have announced that they are launching the ‘SIX Blockchain startup fund’. The fund will use $15 million to nurture a digital ecosystem in the creative industry. SIX network uses blockchain technology and smart contracts to reinvent the digital economy by building a better infrastructure. Core features within the SIX network include the SIX…
[PRESS RELEASE – Chicago, United States, April 17th, 2024] Liquid Mercury, a leading crypto trading technology provider, announced today that it is providing a request for quote (RFQ) platform to GFO-X, the UK’s first regulated and centrally cleared trading venue dedicated to digital assets derivatives. Institutional traders will be able to source deep liquidity for
Blockchain security firm PeckShield has disclosed a series of transfers from three addresses, including one from crypto exchange Bitfinex to Alameda Research’s consolidation wallet. According to Etherscan, the address labeled “Alameda Consolidation” received $13 million worth of crypto assets from three different wallets. The first belongs to the leading crypto exchange Bitfinex. It transferred approximately…
After dabbling around $16K – $17K for a few days, Bitcoin has soared back above $18K. Most alternative coins have also increased in value, adding $30 billion to the total market cap in a day. Bitcoin Jumps to $18K Following the vigorous price dips from earlier this week that resulted in BTC losing more than…
New-York based crypto lending startup BlockFi has hired two traditional finance executives in a move to expand both its institutional and consumer-facing products. The company, which announced a $30 million funding round in February, on Tuesday, revealed Wittney Rachlin as its new chief growth officer, and David Olsson is its global managing director. Olsson To…
The 16th and current Chair of the US Federal Reserve has acknowledged that bitcoin is a store of value, just like gold. According to him, the cryptocurrency is far from achieving mass adoption but people do use it as a store of value. Bitcoin Is a Store of Value Jerome Powell, who is the 16th…
Ethereum is a well-known open-source smart contracting platform with massive contributions to the DeFi world. The platform’s development was pioneered through crowdfunding, which took place in 2014. The platform was co-founded by a millennial named Vitalik Buterin, born in 1994. Ethereum is an inflationary crypto platform, meaning Ether, the platform’s native utility token, has no
Bitcoin’s calm price movements continue during the weekend as the asset has stalled at just over $36,500 for a few consecutive days. At the same time, several altcoins have outperformed BTC with massive daily gains, including SOL, ADA, LINK, and more. BTC Calm at $36.5K The middle of the business week was quite volatile for
[PRESS RELEASE – Please Read Disclaimer] Stop us if you have heard this one before: 1xBit has begun the Ticket Rush tournament for the 2022 World Cup, where you or any of your friends could grab a seat and join in sharing the 3 BTC prize fund. It is a very exciting opportunity on 1xBit,…