Partnerscan

Ethereum Surges Past $3K as Bitcoin Recovers Toward $52K (Market Watch)

[ad_1]

The cryptocurrency market went through quite a rollercoaster in the past 24 hours, but it appears that bulls are getting the better of it.

At the time of this writing, the total capitalization sits at $2.087 trillion (per CoinGecko), and most of it is painted well in green.

Bitcoin’s Price Recovers Toward $52K

The bears attempted to take control of the crypto market in the past day but were unable to do so. Bitcoin’s price dipped to an intraday low below $51K, but the bulls were quick to react and pushed it back to where it currently trades at $52K.

As seen in the chart below, it wasn’t exactly smooth sailing, as the volatility is more than evident:

btc_price_chart_2202241
Source: CoinGecko

This has also caused quite a stir in derivatives markets. The day saw around $40 million worth of liquidated BTC positions, while the total number for all cryptocurrencies stands at almost $200 million. Data from CoinGlass reveals that Ethereum is actually leading in terms of liquidations, with over $44 million in 24 hours.

Ethereum Soars Above $3K

ETH’s price also went through substantial volatility, but the bulls took the upper hand and pushed it above $3,000. At the time of this writing, Ethereum is trading at $3,020, up almost 3% in the past 24 hours.

There are many reasons to believe that the rally will continue in the near future. These include:

  • The hype associated with the potential approval of a spot ETH ETF in the US.
  • The upcoming Dencun upgrade.
  • Positive on-chain metrics indicate a shift toward self-custody.
  • Bitcoin’s halving in April.

All in all, the market remains mostly in green despite the volatility of the past 24 hours, as it can be seen in the heatmap below:

crypto_heatmap_220224
Source: QuantifyCrypto

The best performers of the day are SingularityNET (AGIX) – up 33.8%; Worldcoin (WLD) – up 21.2%; and Render (RNDR) – up 19.3%.

The worst performers of the day are Stacks (STX) – down 5.5%; Hedera (HBAR) – down 5.1%; and LEO Token (LEO) – down 4.2%.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

[ad_2]
Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

No comments to show.

New Providers
Flickrz

Flickrz is a Web 3.0 digital content platform based on blockchain technology The Flickrz platform provides a reward ecosystem for digital content creators and consumers, with the goal of building a decentralized digital content market.

Osmosis

The live Osmosis price today is $1.65 USD with a 24-hour trading volume of $33,172,896 USD. We update our OSMO to USD price in real-time. Osmosis is up 3.18% in the last 24 hours. The current CoinMarketCap ranking is #80, with a live market cap of $815,231,728 USD. It has a circulating supply of 492,590,761 OSMO coins and a max. supply of 1,000,000,000 OSMO coins. If you would like to know where to buy Osmosis at the current rate, the top cryptocurrency exchanges for trading in Osmosis stock are currently BinanceDigiFinexBitgetBitrue, and BingX. You can find others listed on our crypto exchanges page.

Bitget Token

The live Bitget Token price today is $0.595121 USD with a 24-hour trading volume of $14,558,354 USD. We update our BGB to USD price in real-time. Bitget Token is up 0.86% in the last 24 hours. The current CoinMarketCap ranking is #79, with a live market cap of $833,169,525 USD. It has a circulating supply of 1,400,000,000 BGB coins and a max. supply of 2,000,000,000 BGB coins. If you would like to know where to buy Bitget Token at the current rate, the top cryptocurrency exchanges for trading in Bitget Token stock are currently BitgetExMarketsMEXCGroveX, and Bitfinex. You can find others listed on our crypto exchanges page.

BitTorrent

The live BitTorrent (New) price today is $8.71e-7 USD with a 24-hour trading volume of $23,043,195 USD. We update our BTT to USD price in real-time. BitTorrent (New) is up 1.56% in the last 24 hours. The current CoinMarketCap ranking is #78, with a live market cap of $843,049,045 USD. It has a circulating supply of 968,246,428,571,000 BTT coins and the max. supply is not available. If you would like to know where to buy BitTorrent (New) at the current rate, the top cryptocurrency exchanges for trading in BitTorrent (New) stock are currently BinanceBlueBitOKXBybit, and Bitunix. You can find others listed on our crypto exchanges page.

Conflux

The live Conflux price today is $0.233992 USD with a 24-hour trading volume of $140,148,536 USD. We update our CFX to USD price in real-time. Conflux is down 3.68% in the last 24 hours. The current CoinMarketCap ranking is #77, with a live market cap of $854,823,273 USD. It has a circulating supply of 3,653,219,846 CFX coins and the max. supply is not available. If you would like to know where to buy Conflux at the current rate, the top cryptocurrency exchanges for trading in Conflux stock are currently BinanceUEExOKXBybit, and Bitunix. You can find others listed on our crypto exchanges page.