The overall crypto market capitalization increased by around 5% to $2.39 trillion. On the other side, the total cryptocurrency market volume noted a more than 14% surge towards $102.58 billion.
The crypto market revived on Friday as the equity market closed. Thanks to the previous weekend and busing festive season. Cryptocurrency is the only market remaining open as the industry runs 24hrs, 365 days per year.
Excluding Avalanche, all digital coins in the top ten traded higher early on Friday. Bitcoin (BTC) gained 6%, Cardano (ADA) 10%, and Terra (LUNA) led the crypto assets with a 15% rally. Meanwhile, the global cryptocurrency market value increased by around 5% to $2.39 trillion. On the other part, the market volume saw a more than 14% upsurge to $102.58 billion.
Expert’s Viewpoint
Mudrex executive Edu Patel highlighted the positive mood in the crypto spectrum, stating that the cryptocurrency space has witnessed lucrative recoveries after Bitcoin regained the $50K price level. Remember, BTC has oscillated beneath this threshold with several unsuccessful attempts.
Also read:Patel added that the altcoin market saw a new upward move after the leading alt Ether rose past the $4,000. Trading volumes surged amid the price upswings by most tokens, showing optimistic momentum in the cryptocurrency markets.
Global News
Experts pointed out that the three top trends this year are meme coins, non-fungible tokens (NFT), and central bank digital currencies (CBDCs). 2021 also witnessed the Initial Coin Offering (ICOs) slew. Meanwhile, Silicon Valley remains oversupplied with developments of individuals riding ‘ridiculous’ cryptocurrency investments. Skeptics stated that crypto might not differ from other speculative bulled in the past, including the 17th century’s tulip craze and subprime mortgage.
While publishing this blog post, Bitcoin traded at $51,088. Analysts and market players have awaited such a move as BTC consolidated beneath the $50K level for some time. The leading altcoin should keep this level away to support a steady climb. That would also translate to bullish waves across the crypto spectrum.
Will Bitcoin sustain its move past the psychological point of $50,000? Feel free to share your views below.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.