Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $10,901.63 (+2.58%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $350.65 (+3.05%), while XRP has increased by 1.68% and is now trading at $0.25.
FxPro's team of analysts say:
"Bitcoin has made another attempt to grow, however, it has lost momentum as it approaches $11,000. Over the past day, the reference crypto has increased by more than 2%, a growth that has been accompanied by a 73% jump in trading volumes. In this context, the capitalization of the largest crypto in the market has once again surpassed the $200B barrier. The growth of Bitcoin has extended to other cryptos. Altcoins on the top 10 post a rise of 3-7%. The growth of Bitcoin is associated with the news about the investment of the payment platform Square in the crypto. The company, founded by Twitter's CEO Jack Dorsey, has bought 4,709 Bitcoins for about $50B. In this sense, we are talking about a psychological effect rather than the size of the purchase itself.
The crypto community reacts extremely positively to events related to investments in cryptos made by companies from the traditional sector. According to Glassnode, the Bitcoin hashrate has reached a new record of 170 EH/s. In other words, miners keep increasing their capacity, believing in the prospects of the reference crypto.
The greed and fear index for Bitcoin and the main cryptos has grown by several points in one day, moving into the 'neutral' area with 48 points. The indicator reflects the crypto still has room for growth."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $344,710,727,945.
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