In recent days, Bitcoin made another attempt to surpass the $67,000 mark but was unable to do so convincingly, and currently hovers just under that price.
Altcoins are experiencing gains, as Ethereum reaches $3,250 and TON recovers some past setbacks. Today, Hbar takes the lead among altcoins following some significant engagement with BlackRock.
BTC Goes After $67K
Last week, Bitcoin’s value experienced significant fluctuations, primarily due to the intensifying conflict between Iran and Israel. Notably, this occurred just before the fourth halving on Friday, when tensions reached a boiling point and led to a sudden drop in price. In a short period of time, Bitcoin plummeted several thousand dollars, dipping below $60,000.
After Iran announced no imminent retaliation, bitcoin surged past $5,000 in value. A brief dip brought it down to $63,000, but this setback was short-lived, and the cryptocurrency hovered around $65,000 following the halving event when rewards were reduced by half.
Lately, the price instability of Bitcoin has lessened. Over the past day or so, its value has climbed steadily, reaching nearly $67,000 on occasion. However, thus far, it hasn’t managed to surpass that mark and currently hovers a few hundred dollars below it.
The company’s market value exceeds $1.3 trillion, yet its supremacy against other cryptocurrencies has waned, dropping to 50.7% based on CoinGecko’s statistics.
HBAR Goes Up and Down
Yesterday, it was announced that Hedera had teamed up with Archax to tokenize BlackRock’s ICS US Treasury money market fund on Hedera’s blockchain. The announcement led to a significant increase in demand for HBAR tokens in the markets. However, Archax’s CEO later clarified that it was his company, rather than BlackRock, that had chosen Hedera for this partnership.
HBAR retraced from its peak, but it is still 60% up on the day, despite the criticism on X.
The meme coin representatives make up a significant number of the top performing altcoins outside of the top 100, according to previous reports.
The remaining larger-cap altcoins are experiencing growth, with Ethereum trading over $3,250, TON rebounding at $5.9, and Solana and Binance Coin seeing modest increases.
The total crypto market cap has neared $2.6 trillion on CoinGecko.
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2024-04-24 11:26