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Ethereum Shots up to 8-Month High, Ripple Gains 5% Daily (Market Watch)
The recent FUD surrounding Binance only temporarily hurt Bitcoin as the asset went back on the offensive and rose to nearly $29,000. Ethereum is also on the rise ahead of its long-awaited Shanghai upgrade, with the native token hitting an eight-month high above $1,900. BTC eyeing $29,000 After last week's volatility, Bitcoin had finally calmed down over the weekend, mainly trading in a tight range between $28,400 and $28,600. The landscape began to change early Monday, particularly after it was announced that Interpol had issued a Red Notice about the...
Ethereum Shots up to 8-Month High, Ripple Gains 5% Daily (Market Watch)
The recent FUD surrounding Binance only temporarily hurt Bitcoin as the asset went back on the offensive and rose to nearly $29,000.
Ethereum is also on the rise ahead of its long-awaited Shanghai upgrade, with the native token hitting an eight-month high above $1,900.
BTC eyed $29,000
After last week's volatility, Bitcoin had finally calmed down over the weekend, mainly trading in a narrow range between $28,400 and $28,600. The landscape began to change early Monday, especially after it was revealed that Interpol had issued a Red Notice on Binance's CEO. Within hours, BTC collapsed below $27,300.
However, when CZ denied the rumors and it turned out to be fake news, Bitcoin began to regain its value and almost immediately returned to $28,000. The last 24 hours gave the cryptocurrency another leg up, pushing it to $28,800.
Although it failed to move higher and challenge $29,000, Bitcoin is still up 2% on the day and north of $28,500 despite bullish on-chain signs. Its market cap has finally reclaimed the $550 billion mark, but its dominance over alts has shrunk to under 46%.
BTCUSD. TradingView
ETH, XRP up 5%
Perhaps the anticipation of the upcoming Shanghai update is the main reason for ETH’s significant price increase in the last 24 hours. The second-largest digital asset is up nearly 6% and is above $1,900 for the first time since mid-August 2022. Additionally, several Ethereum liquid staking tokens, such as LDO, have surged over the past day.
Ripple's daily increase is similar to that of ETH. XRP has reclaimed $0.5 after a 5.3% rise. Avalanche and Uniswap are the other notable winners among the top 20 altcoins, up over 6%.
BNB, ADA, MATIC, SOL and LTC are also on track for marginal intraday gains. The total crypto market cap has increased by around $30 billion in a day and stands at over $1.2 trillion at CMC.
Overview of the cryptocurrency market. Quantify crypto