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Bitcoin Holds $21,000, Metaverse Tokens Rise (Market Watch)
After the last positive days, Bitcoin has returned above $21,000 and has managed to hold above this level. Altcoins have now calmed down throughout the day, apart from several representatives of the Metaverse industry. BTC still above $21,000 Although the number of reports pointing to an impending recession for a significant portion of the world continues to grow, the primary cryptocurrency has so far remained unaffected. Despite being considered a high-risk investment, BTC has been on the rise in recent weeks. The most significant breakout was when Bitcoin finally reclaimed $17,000 early last week. Since then it hasn't...
Bitcoin Holds $21,000, Metaverse Tokens Rise (Market Watch)
After the last positive days, Bitcoin has returned above $21,000 and has managed to hold above this level.
Altcoins have now calmed down throughout the day, apart from several representatives of the Metaverse industry.
BTC still above $21,000
Although the number of reports indicating an impending recession for a significant portion of the world continues to grow, the primary cryptocurrency has so far remained unaffected. Despite being considered a high-risk investment, BTC has been on the rise in recent weeks.
The most significant breakout was when Bitcoin finally reclaimed $17,000 early last week. Since then, not only has it not looked back, but it has added over $4,000 in seven days.
This culminated in the price rising to $21,430 (on Bitstamp) yesterday, which was a 10-week high. Although the value initially fell by a few hundred dollars, the asset recovered and is currently back north of $21,000.
This helped the popular Fear and Green Index reach neutral ground for the first time since last April.
Bitcoin's market capitalization has exceeded $400 billion, while its dominance over altcoins is just over 41%.
BTCUSD. TradingView
Metaverse tokens on the rise
Several representatives of the Metaverse realm topped the charts today with notable gains. They are led by GALA's daily increase of 12%, which is even more impressive given the recent controversy surrounding Gala Games.
The native cryptocurrencies of Decentraland and The Sandbox are also part of this club, rising up to 7% in a day.
Binance Coin is trading above $300 after a minor daily increase after the exchange announced the completion of its 22nd token burn.
Most other large-cap altcoins are also showing slight gains of around 1%. Polkadot is up the most (4%) and is trading at $6.
The crypto market cap has approached $1 trillion on CoinMarketCap and is well above that number on CoinGecko.
Overview of the cryptocurrency market. Quantify crypto