Cryptos Today: Bitcoin Recovers $21,000, Paves Way for Altcoins; Solana leads 10% and Celsius shoots 50%

After high volatility over the weekend, Bitcoin (BTC) registered the second day of rise and resumed the level of 21,000 US dollars on Tuesday (21), the day of the return of the American stock markets after a public holiday in the United States. As of 7:05 a.m., the cryptocurrency was trading at $21,180, up 2.5% in the past 24 hours. Second most valuable crypto, Ethereum (ETH) advanced 3% to $1,158. Among the cryptos with the highest market capitalization, however, the one that is rising the most today is Solana (FLOOR), up 10% in 24 hours to $38.

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The rise of Bitcoin brings a dose of optimism to investors, who decide to take a risk in smaller altcoins. The highlight of the day is the Celsius Network (THE), currency of the company of the same name which froze withdrawals just over a week ago. Token skyrockets 50.4% in one day after company repays $10 million stablecoin loan AID for the Compound protocol (COMP).

Celsius has yet to give a timeline for releasing users’ money and says regaining its liquidity “will take time”, but the market appears to have calmed down with a stimulus package offered by Simon Dixon, one of the company’s first investors.

Even though BTC is offering some relief and encouraging risky altcoin bets, analysts are still urging caution at this point.

“Bitcoin is still a concern as investors flee the cryptocurrency world in their race away from risky assets,” wrote Susannah Streeter, senior investment and market analyst at financial services firm Hargreaves Lansdown.

“The HODLer Mentality [investidor que compra e segura cripto por um longo período] is truly being tested and those who have not given up may be tempted [a desfazer suas posições]wrote Craig Erlam, senior market analyst at Oanda brokerage.

Hargreaves Lansdown’s Streeter noted that while cryptos have suffered from “extreme volatility in the past, it looks like this decline may not be reversing anytime soon and a crypto winter could be setting in.”

One of the signs of a prolonged winter in the cryptocurrency industry would have been the fall of Bitcoin below the previous cycle high of just under $20,000 in December 2017 – this was the first time that such a pullback had been recorded since digital currency reached at least $10 billion in market capitalization and became more relevant as an asset class.

  • Watch: Why Three Arrows Capital Fund Threatens Bitcoin and Keeps Investors Awake

participate in yesterday Crypto +Trader and chart analyst Vinícius Terranova said that Bitcoin remains hostage to global markets and therefore the cryptocurrency story may be less important this time.

“The average of all down periods during the bear market on SPX is 42%, and people are still way off that. This makes me believe that Bitcoin will continue to follow. Until the global market recovers, I don’t expect the crypto market to go away.

On the other hand, Transfero analysts point out that the price around 20,000 US dollars could be an opportunity for investors who are positioning themselves on a long-term horizon. “Although in a downtrend, the 200 moving average and previous highs in the $20,000 and $14,000 regions are relevant long-term supports, so it is possible that there is a fight between buyers and sellers in this region for some time,” the Brazilian company said in a report.

Check out the performance of major cryptocurrencies as of 7:05 a.m.:

cryptocurrency Price Change in the last 24 hours
bitcoin (BTC) $21,180.71 +2.5%
Ethereum (ETH) $1,158.04 +3%
Binance Coin (BNB) $222.08 +4.6%
Cardoon (ADA) US$0.499732 +2.6%
XRP (XRP) $0.328215 +1.4%

Cryptocurrencies with the biggest gains in the last 24 hours:

cryptocurrency Price Change in the last 24 hours
Celsius network (THE) $1.41 +50.4%
Synthetix (SNX) $4.46 +30.6%
Ziliqah (ZIL) $0.04210404 +23%
Waves (WAVES) $5.58 +17.9%
Elrond (EGLD) $63.08 +12.9%

Cryptocurrencies with the biggest drops in the last 24 hours:

cryptocurrency Price Change in the last 24 hours
Flexible piece (FLEX) $4.68 -1.5%
Helium (NHT) $10.95 -1.3%
DeFiChain (DFI) $1.04 -0.8%

See how cryptocurrency ETFs closed in the last trading session:

ETFs Price Variation
NCI Hashdex (HASH11) R$17.25 -1.98%
BTCN Hashdex (BITH11) R$24.50 -1.6%
Ethereum hashdex (ETHE11) R$16.77 +2.19%
DeFi Hashdex (CHALLENGE11) R$15.99 +9.44%
Hashdex FI Smart Contract Platform (WEB311) R$17.01 +5.19%
Bitcoin QR (QBTC11) R$6.50 -1.51%
QR Ether (QETH11) R$4.16 +3.22%
QR-DeFi (QDFI11) R$3.01 +4.87%

See the top crypto market news for this Tuesday (21):

Cardano delays update due to code bugs

Cardano’s development lab (ADA), Input Output (IOG), has delayed the release of the blockchain testnet “Vasil” update due to technical issues, the team said today.
Promised for yesterday, Vasil’s update would increase Cardano’s scaling capabilities. Now the change is scheduled for the end of June, also on testnet.

Upgrading is a hard fork, a process in which a blockchain validates and produces new blocks with new predetermined rules in place of old ones.

“IOG’s engineering team is close to finalizing major work, with only seven bugs still pending to complete hard fork work, none currently rated ‘serious’,” the developers said. .

Ukraine sells $100,000 NFT to fund war effort

Ukraine has sold CryptoPunk #5364, an NFT the country received as a donation in early March during a fundraiser to fund the war effort against Russia. Alex Bornyakov, the country’s deputy minister of digital transformation, yesterday announced the sale of the digital asset via Twitter.

The NFT was sold to an anonymous buyer for 90 ETH, worth around $100,000. The NFT, however, was worth up to $260,000 when it was transferred to the Ukrainian Ethereum wallet in March, before the price of ETH began to drop significantly.

In total, Ukraine has raised over $135 million in crypto donations since its February IPO. Of these, $6.75 million came from the sale of a Ukrainian flag in NFT format.

UK returns and rejects law that hits wallets like MetaMask

The UK government has backed away from implementing a law that required all senders of crypto to private cryptocurrency wallets to collect recipient credentials, according to a document released by the Treasury.

Based on feedback received during a public consultation, Treasury said it would not make sense to create a data collection rule for non-hosted or private wallets. This type of wallet allows the user to take personal custody of their crypto assets. The most famous in the world is MetaMask.

“Rather than requiring the collection of recipient and sender information for all non-hosted wallet transfers, cryptocurrency companies should only collect this information for transactions that pose a high risk of origin. illicit”, underlines the document. .

Exchange Bybit announces layoffs

Cryptocurrency exchange Bybit announced yesterday that it was preparing to lay off some of its employees, citing “significant measures to reduce costs”.

“We are exploring a way to remove overlapping roles and create smaller but more agile teams to improve our efficiency,” the exchange told CoinDesk.

According to Chinese journalist Colin Wu, citing people familiar with the matter, layoffs at Bybit can reach up to 30% of employees.

in conversation with the InfoMoney CoinDesk Just over a week ago, at Consensus 2022 in Austin, USA, Bybit representatives for Brazil said the timing was tricky, but the company would only “reduce the pace of hiring.

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