Bitcoin price has started the day in green. At press time, the largest cryptocurrency by market cap is trading at $7,169.84 $ (+7.06%).
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $129.07 (+4.32%), while XRP has climbed 2.57% and is now trading at $0.189.
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
Last night, Bitcoin started to grow significantly after almost falling to the $6,500 level. This rally has coincided with an increase in trading volumes. The daily trading volume has risen by $10B. For its part, the Bitcoin dominance index has reached 68.1%. All the currencies on the top 10 are growing between 4-10%. The only exception is Tether, which has fallen slightly. One of the possible reasons behind this unexpected growth is the increase in the monthly futures trading volume on Bakkt to 7,102 BTCs (around $51M). It looks like institutional investors, whom everyone usually accuses of being the reason for market falls, can also have a positive impact on prices. According to Whale Alert, Tether has minted 25 million USDT tokens (around $25,140,315). It must be noted that this type of events are often associated with drastic market movements.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $190,314,753,992.
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