Things have turned for the better for cryptocurrencies, with bitcoin finally gaining 6% within a day and regaining $19,000. Other cryptocurrencies are also not left out as altcoins, ETH, and Ripple are also experiencing an upturn today.
BTC suffered a huge nose dive in the past week; recall that the asset last Tuesday had soared to just under $23,000 but failed there, and the upcoming US CPI data brought down by a few thousand dollars to $20,000. By Wednesday, BTC suffered downing so much that it struggled to remain below it.
At the beginning of this week, BTC took a hit when it plummeted to a three-month low of $18,300. Surprisingly, BTC reacted positively to this drop as it added more than $1,000 hours later and is around $19,500 currently. Its market capitalization is at $375 billion, while it dominates altcoins with about 40%.
Although ETH plummeted after the merge to a multi-month low of under $1,300 yesterday, it also experienced an increase of 6% daily, moving it to almost $1,400.
Binance Coin also has a similar daily increase, pushing it to $270. Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, Polygon, and Avalanche are also in green from the larger-cap alts. XRP is also up by more than 10% and trades closely to $0.4.
The lower- and mid-cap alts have also experienced significant price rises, resulting in a $40 billion rise in the global crypto market cap. However, the metric is still far from the coveted $1 trillion mark.
Significantly, Ripple is the best performer today after the latest developments in its case against the SEC.
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