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Highlights
- The number one crypto by market cap pushed above US$48,000 briefly, before correcting to US$47,400, where it sits currently.
- Ethereum has followed suit, jumping a further 2% in the past 24 hours to US$3,365, which is the token’s highest point since mid January.
- StormX, a project which rewards users for shopping online, rocketed 54% over 24 hours on Sunday before dropping 5% today.
Straight to Bitcoin. And the flagship currency has continued its rise, albeit amidst its characteristic volatility.
The number one crypto by market cap pushed above US$48,000 briefly, before correcting to US$47,400, where it sits currently.
The push above US$48,000 marks the first time this year that Bitcoin has surged that high and is a nearly US$10,000 improvement on where the token was valued just two weeks ago.
Bitcoin’s recovery has been attributed to Russia reportedly considering accepting Bitcoin as payment for oil and gas as sanctions imposed by US and its allies continued to destroy the value of the Ruble.
Many analysts, who had put Bitcoin’s resistance level at US$47,100, are now saying that as Bitcoin has crossed this resistance, it may we’ll have enough momentum to carry it to US$60,000 level.
Although that’s not Bitcoin’s record price (that sits at US$68,500), a push to US$60,000 would still take price high not seen since November 2021.
Meanwhile, Ethereum has followed suit, jumping a further two percent in the past 24 hours to US$3,365, which is the token’s highest point since mid January.
Altcoin News
While the big digital tokens – Bitcoin and Ethereum – have been turning their ship around, a number of altcoins with low market cap have also seen making good gains.
StormX, a project which rewards users for shopping online, rocketed 54% over 24 hours on Sunday before dropping 5% today.
Meanwhile, scalability-focussed project, QuarkChain, also exploded over 70 percent at the weekend and although correcting slightly, still hovered well above its recent price.
Winners and Losers
Image Source @ 2022 Kalkine Media®
Data Source: CoinMarketCap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
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