After weeks of calm, the cryptocurrency market picked up speed again yesterday. Bitcoin (BTC), the main cryptocurrency, climbed to $30,000 in the day.
Many of the larger cryptocurrencies also saw gains as the overall market value of the crypto world crossed $1.18 trillion, according to data from CoinMarketCap (CMC).
BTC Crosses $30,000 Threshold
Bitcoin (BTC), the main cryptocurrency, dipped to around $29,700 in the morning before reaching $30,000 later in the day. After a period of quiet trading, the cryptocurrency market picked up speed and moved higher yesterday.
Ethereum (ETH) began trading at around $1,860, showing an average rise of 1.7% over the last 24 hours. Many of the major cryptocurrencies also began the day with gains, driven by Bitcoin’s value increase.
The total value of all cryptocurrencies combined surpassed $1.18 trillion, as noted by CMC data. Additionally, the cryptocurrency market has become more volatile compared to the start of the week. Coinglass’ latest information reveals that about $80 million worth of short and long positions were liquidated in the crypto market within the past 24 hours.
Featured Cryptocurrencies of the Day
During the day, Bitcoin (BTC) briefly went above $30,000 but later retreated to around $29,700. Despite this, various cryptocurrencies saw notable increases in value following Bitcoin’s $30,000 achievement.
Pepe coin (PEPE), Shiba Inu (SHIB), Synthetix (SNX), Solana (SOL), Hedera (HBAR), and Toncoin (TON) were among the top-performing cryptocurrencies of the day. They showed significant percentage increases among the top 100 cryptocurrencies based on market capitalization, as per CMC data.
However, even with the market’s positive movement, some cryptocurrencies continued to decrease in value. XDC Network (XDC), Rocket Pool (RPL), Casper (CSPR), Algorand (ALGO), and Optimism (OP) faced percentage losses despite the overall market gains.
Important:Ā Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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