Bitcoin attempted to grab $39,000, but it was stopped by the authorities and is now at $38,000. The volatility of altcoins is less than Ethereum, which currently stands at $2,600. Chainlink and Axie Infinity rank among the top performers.
Bitcoin at $38K
After failing to surpass $36,000, the primary cryptocurrency fell to $35,000. It happened just days ago. The bulls responded and drove the asset north.
After a brief retracement of the previous level, BTC went back on the offensive. As reported yesterday, bitcoin reached $38,000. This was a gradual increase, not a sudden one.
The asset continued to climb over the next hours. It reached a high of nearly $39,000 per day. It failed to surpass that level, and has since fallen by several hundred dollars.
However, the market capitalization of the company has not fallen below $700 billion since earlier this week.
BTCUSD. Source: TradingView
AXS and LINK Take the Lead
Yesterday’s impressive gains in alternative coins were mirrored today by a calmer market. Ethereum continues its recovery session. The second-largest cryptocurrency, ETH, dropped to $2,000 earlier in the week. After a minor daily increase, ETH now stands at $2,600.
Binance Coin, Terra and Terra have slightly retraced since yesterday. Cardano and Ripple, Polkadot and Dogecoin have made minor gains.
Chainlink and Axie Infinity are the coins that have seen the largest price increases. These assets have seen an average 10% increase in value per day.
Lower- and mid-cap altcoins offer more gains. With a 20% increase, Flow is the leader, followed closely by Convex Finance (13%), Tezos (10%) and Synthetix Network Token (9%)
The market cap for cryptocurrency has remained relatively stable at $1.7 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
Marla Brooks – Financial Analysis
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