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Tuesday, May 24, 2022

Bitcoin Price Has Reached Towards $45,000 For Support

Bitcoin has gone from a price of $33,400 to $45,900 which has perfectly captured the movement going on in the cryptocurrency sector. As it stands, the current week saw the total market cap of the cryptocurrency go back to $1.9 trillion, which is simply a weekly increase of 20%. But it also was the highest that the sector saw since its capital on the 20th of May. In such a situation, the increase in the price of BTC was completely in sync. 

But, it must be mentioned that not every single altcoin performed at the same level and only 14 out of the top 100 from CoinMarketCap could outperform Bitcoin by around 3%. 

ICP, RVN, VGX, And EGLD Followed Bitcoin’s 40% Rally

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Internet Computer went on to announce on the 30th of July that the Fleek application went on to reach around 700 website deployments-closely following the rally of Bitcoin. It has been reported that Fleek allows one to create front-ends and websites for decentralized applications on the blockchain with hosting that would be frictionless. Fleek also creates an alternative open-source gateway so that the smart contracts data of Internet Compute could be accessed through regular browsers.

Elrond also followed the module displayed by Bitcoin and announced funding of $20 million from Moonlorian Blockchain Business Laboratory. According to the blog of Elrond, the blockchain firm has already incubated several domain projects such as NFT, traceability, tokenization, and loyalty platforms. 

The eventual price correction of Bitcoin is definitely going to cause traders to quickly jump onto profits from the most volatile actions. 

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