Bitcoin rose 4.3% on Wednesday to end the day around $41,300, Ethereum added 4% to hit 3100, and both remain close to those levels early Thursday. The major top ten altcoins rose in price over the past day, rising from 0.7% (Binance Coin) to 5.4% (Avalanche).
Demand on BTC
According to CoinMarketCap, the total capitalization of the crypto market has increased in the past 24 hours by 2.3% per day, reaching $1.92 trillion. The Bitcoin Dominance Index rose 0.3% to 41.0%.
The Cryptocurrency Fear and Greed Index added on Thursday added another 3 points to 28 and moved into a “fear” state.
Bitcoin was in demand during the US session amid a rebound in stock indices and a falling US dollar. The US currency began to correct lower after 9 days of growth, which helped boost all risky assets.
The world’s first encrypted credit card
Alex Mashinsky, CEO of crypto lending platform Celsius Network, said Bitcoin will top $100,000 as early as 2022 due to capital flight from the stock market to cryptocurrencies. According to him, bitcoin has started acting as a protective asset against the background of deteriorating general situation in the world.
Crypto lending platform Nexo has announced the release of the world’s first secure cryptocurrency credit card based on the Mastercard payment system. The card will allow you to spend funds without having to sell crypto assets. They will serve as collateral to secure the loan.
According to IntoTheBlock, the number of long-term investors in the Shiba Inu token has increased 20 times since the start of the year. However, hodlers only own 5% of the total capitalization of the meme token.
This article was written by Alex Kuptsikevich, Senior Market Analyst at FxPro.