TL;DR Breakdown
- Bitcoin’s price increased by 4.90% in the last 24 hours.
- Ethereum is at a standstill at $4,300.
- Stacks makes gains at the rate of 18.80% today.
- KuCoin Token follows behind Stacks at 12.44% gains today.
Overnight, the crypto market has flourished with the recent upturn of the major currencies after making sudden gains within a few hours. The crypto world is steaming with the resurgence of value and gaining some of the lost ground by various cryptocurrencies.
While the night’s recent turn of events was very welcome by investors, it seems that dabblers in the crypto market are uncertain of how long this gaining trend will last, as it only lasted for a day the last time Bitcoin and Ethereum closed the gap between themselves and $60k and $4.5k respectively. Still, this progression is nothing to scoff at. The investors still seem to rejoice as we make further progress up the ladder.
Bitcoin rises back up to the challenge
Sentiments about the crypto market suggest that this might finally be the moment Bitcoin is able to cross $60,000 value again, but most investors are still skeptical after the recent value increase and rapid value drop that followed shortly after.
It seems to be a specific course that Bitcoin takes that each time it gains value, the global crypto market cap seems to drop right after it begins making progress. Anyways, “progress is always progress” and investors still hold the top currencies to higher standards than the rest, holding faith that Bitcoin will return to its former glory.
As of now, Bitcoin is in a state of rest at $57,050, neither moving above nor moving below as the crypto market shifts. Its trading volume per day is at $30.70B while its market cap is at $1.077T.
Ethereum keeps itself afloat
Ethereum has neither gained nor lost much since last night, nothing more than a few dollars as it continues to stand at the second leading token without much of a difference in value overnight. It continues to keep itself stationary at $4,315 value and has only made an increase of 5.92% since yesterday.
Over the last 24 hours, the market cap increased by 6.07% to $512.69 billion. At the same time, the trading volume stood at $17.75B, which was 25.63%.
STX and KCS lead the top gainers’ list this morning
At the time of writing, it seems that the top contender for the top gainers’ list seems to be Stacks, which recorded higher gains than any other coin today. Stacks is a blockchain-based program created for the decentralization of applications to Bitcoin.
It released its token STX only a year ago but seems to make gains rivaled only to KuCoin Token (KCS) today which is the second contender. KuCoin Token has been taking a stand recently by making gains of 12.44% today and 9.00% this week. STX has risen to $2.18 value while KCS seems to be at $25.52 market value.
Conclusion
The crypto market has always been vast and it has different ways of surprising investors. While investors gasp with surprise and groan with disappointment when their tokens gain or lose, the crypto world keeps moving forward, showing different trends.
For this reason, investors always stand on their toes to keep themselves from getting too surprised when they suffer defeat whenever their coin loses more value than their entry price. With so many people relying on Bitcoin as their top currency, the crypto market has a lot of weight on its shoulders to keep this winning streak going.
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