Barring the Bitcoin and US dollar-pegged Tether, all other top tokens were trading in the red. Bitcoin advanced over a per cent, whereas Ethereum and Dogecoin were the top losers, down about 2 per cent each.
The global cryptocurrency market cap was trading marginally higher at the $1.06 trillion, almost unchanged in the last 24 hours. However, the total trading volume increased slightly to $72.92 billion.
Ethereum co-founder Vitalik Buterin surprised attendees at the Kyiv Tech Summit yesterday to show support for war-torn Ukraine, an appearance that was a closely guarded secret for security reasons, CoinDesk reported citing organizers.
MicroStrategy, a software developer that has become a corporate bitcoin vault, plans to sell up to $500 million of stock to fund more purchases of the cryptocurrency.
The sudden burst in the market for bitcoin might lose momentum quickly, crypto analysts said. On Friday the largest cryptocurrency by market value rallied over 10 per cent to the $21,000 level, its largest daily gain in six months.
Over the weekend the market gained, said Sathvik Vishwanath Co-Founder CEO Unocoin. Notably, LUNA rallied 207 per cent as its community got confidence about the troubled coin’s comeback, he said.
“With the Ethereum merger expected next week, more cautious trading decisions need to be taken than normal. As a result, patterns in the blockchains related to smart contracts may also be seen during the upcoming week,” he added.
Tech View by Proassetz Exchange
After retracement to $19300, BTC has again bounced back from its support zone of $19000. Currently, it is trading above a strong support zone and is still inside a range. A breakout above the $25000 level will lead to $29000.