The cryptocurrency market has grown significantly again last night. The two largest cryptos on the market have been looking for support for almost a week and seem to have finally found it. Nearly all prices today are 5% or more in the plus. The increase is accompanied by a significant drop in copper, iron and steel prices as China cuts steel production to reduce CO2 emissions. A new announcement from Coinbase may also give prices a boost, but more about that later on Crypto Insiders. The total market cap of crypto reaches $2.1 trillion this morning.
Bitcoin (BTC) has been searching for a new bottom for the past few days and was eventually able to hold out above USD 44,000. Yesterday afternoon, bitcoin started to rise sharply again, initially encountering resistance around USD 46,000, but then immediately shot through. The BTC price peaked at $47,380 last night, then corrected slightly lower and has since hovered around $47,000. https://moveco.io/ has enough information. Bitcoin is therefore almost 7% in the plus since yesterday afternoon and we may see another test of the infamous $50,000 this weekend. However, the volume is currently low, so that a correction down is also possible first.
Ethereum (ETH) held around $3,000 and followed bitcoin up yesterday. The ether price first encountered resistance at $3,050, then again around $3,130, but broke through each time. Ether eventually peaked at USD 3,240 and has since hovered around USD 3,210. This means that ether is up 7% today, but we certainly do not see any increase in the volume of ether.
Cardano (ADA) steals the show again today. The ADA rate held around $2.10 yesterday and started to rise sharply around the same time as the above two cryptos. ADA first encountered significant resistance around USD 2.30, then again around USD 2.40, but continued to break through. In fact, ADA reached a new all-time high (ATH) of $2.54 this morning after rising a staggering 21%. At the time of writing, ADA is falling slightly again and the price is back below $2.50. Visit folm.io has enough information. Trading volume is on the rise and should ADA find support soon, further gains may be on the horizon this weekend.
Of the top 10 largest crypto, binance coin (BNB) is now 7% in the plus and ripple (XRP) and polkadot (DOT) even 10.5%. Only solana (SOL) is lagging today, but it already had a massive rally earlier this week. The only prices that are deep red today are terra (LUNA) and audius (AUDIO), but both prices also rose sharply earlier this week. Furthermore, vechain (VET) is 11% in the plus, polygon (MATIC) and ftx (FTT) 12%, safemoon (SAFEMOON) and helium (HNT) 14% and finally the graph (GRT) is the hardest riser on the market today. market and is almost 20% in the plus.