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Friday, February 3, 2023

BTC Price Holds Steady At $17K

BTC launched an offensive after the weekend’s relative calm, reaching a new multi-week high well above $17,000.

The alternative currencies are now in the black, with ETH recovering $1,300. Some companies, such as Shiba Inu, CRO, LTC, and AXS, have increased by more striking percentages.

New 25-Day High for BTC

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The most important cryptocurrency had a quiet weekend and was trading at about $17,000. This occurred after a choppy work week during which BTC dropped to $16,000 before surging to a two-week high of $17,250.

But like the previous Monday, this one saw some price swings. The distinction is that this time, BTC has started a leg up with a price increase reaching just beyond $17,400 early today. BTC’s price had risen to this level since November 11.

The price of the cryptocurrency has since retraced by a few hundred dollars, although it is still above $17,000. Its market cap has surpassed $330 billion, and its share of the market among all cryptocurrencies is a tight 38.3%. The weekend saw little to no price movement for the alternative coins, but things are changing now. In the last two days, Ethereum dropped from $1,300 to under $1,250, but a 3.3% daily gain has lifted the second-largest cryptocurrency to just above the former.

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Following a little daily gain of 2%, Binance Coin is now getting close to $300. Aside from the larger-cap alts, Ripple, Dogecoin, Cardano, Polygon, Polkadot, and OKB have also shown negligible growth. Shiba Inu and Litecoin have increased the highest, by 8.5% and 5%, respectively. Between 5% and 9% are added to CRO, ICP, and FLOW.

The native coin of Axie Infinity has soared by more than 20% on a daily basis. AXS trades far above $8 as a result.

All cryptocurrency assets now have a combined market cap of $870 billion, up $20 billion each day.

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