Last week, Bitcoin started it’s uptrend movement from around $4000 price level to over $5000 price level.
The world’s largest cryptocurrency by market capitalization crosses $5000 price level after a long bull run during the year. Bitcoin saw it’s all time high of over $20,000 in 2017. Bitcoin has a total market capitalization of over $88 billion with a 24 hrs trading volume of $15,294,150,941 USD.
Ethereum is 6% down to the all over price increase of bitcoin during the week. Therefore, bitcoin is 6% up against all other altcoin in the market. Ethereum is the second largest cryptocurrency by market capitalization and the largest altcoin by market capitalization. Bitcoin started the week at $4090 price mark and is currently trading at around $5043.03 at press time according to CoinMarketcap. There is over 18% increase from its previous $4090 price level during the week.
Some market analysts claim the bitcoin price increase over the week is a concerted effort from top bitcoin holders. They claim the price will eventually go down in no time because it’s not a market driven force. Some others claim its a sign of mass adoption of cryptocurrency as more users are trading bitcoin against their favorite cryptocurrency.
The total cryptocurrency market cap cryptocurrencies is currently equivalent to $175.01 billion. This is almost 18% higher than $143.4 billion, the value it saw one week ago. With bitcoin securing almost half of the total market capitalization.
Latest Episode on Inside Blockchain
Crypto News Update
Blue Chip NFTs: What are they and Why are they Popular?
NFTs came into the global market after the frenzy of cryptocurrencies with earlier projects like CryptoPunk in 2017. By 2021,...
Court Orders Liquidation of Three Arrows Capital
Three Arrows Capital has been ordered to be liquidated by a British Virgin Islands court. The liquidation of Three Arrows...
Iran to Roll Out Test Version of its CBDC; Crypto Rial
The Tehran government set to release crypto rial; Iran’s new digital currency. The test stage is slated to begin within...
The Harmony Horizon’s Bridge Feared Hacked for $100 Million
The Harmony network’s Horizon Bridge has been halted as it is suspected of being hacked for up to $100 million...
Move-to-earn: Get Rewarded For Your Everyday Activity on Actifit
Technology is transforming our daily lives; innovative technological solutions are having an impact on many aspects of life and living....