Bitcoin has ushered in the era of $72,000. As of the 12th, Bitcoin is trading at about $77,321 on UPbit.
According to the cryptocurrency statistics site CoinGecko, at 9:40 a.m. on the 12th, Bitcoin traded at $72,251.69 (the average of the main exchanges), up 4.5% from the previous day. Ethereum was up 6.0% to $4,076.58, Binance Coin jumped 0.4% to $525.62, and Ripple skyrocketed 19.1% to $0.71.
In addition, Solana +4.7%, Dogecoin +7.9%, Shiba Inu +7.1%, Avalanche +18.6%, Polkadot +8.1%, Tron +0.1%, Uniswap +2.9%, Polygon +2.8%, Litecoin +19.2%, Cosmos +5.3%, OKB +3.4% were recorded.
The US stock market showed mixed trends ahead of the February Consumer Price Index (CPI) announcement. The February CPI is the last major indicator before the Federal Reserve’s monetary policy meeting on the 19th and 20th.
Overnight, the Dow Jones Industrial Average closed at 38,769.66, up 46.97 points (0.12%) from the previous session. The S&P 500 index fell 5.75 points (0.11%) to 5,117.94, and the Nasdaq index finished trading at 16,019.27, down 65.84 points (0.41%) from the previous trading day.
The virtual asset market is booming with Bitcoin’s record high, and Ethereum and Binance Coin, the 2nd and 3rd largest Altcoins excluding stablecoins, have jumped significantly.
Ethereum and Binance Coin have surged nearly 60% monthly, surpassing the $4,000 and $500 marks, respectively. Even compared to Solana (4th place) and Ripple (5th place), each risen nearly 30% in a month, these are overwhelming results.
Ethereum surged significantly as the possibility of approval in the spot ETF review scheduled for May was pointed out ahead of the Dencun upgrade on the 13th of this week. This is the first time Ethereum has broken through the $4,000 mark since December 2021.
Binance Coin, a self-issued coin of the virtual asset exchange Binance, saw an influx of trading volume as the market transitioned to a bullish phase. Demand also surged for the Launchpool service, which rewards deposits, surpassing the $500 mark for the first time in two years. In response, industry experts have noted the increased market share of the stablecoin “First Digital Stablecoin (FDUSD)” issued by Binance, predicting that the strength of related exchange coins will continue due to the strength of the Binance exchange.
In addition, Bitcoin and Ethereum-related Altcoins also rose significantly over the past month. Over the past 30 days, Bitcoin Cash has risen 79.9% to $445.0, Litecoin has jumped 47.2% to $104.13, and Ethereum Classic has increased 47.2% to $38.12.
The virtual asset analysis platform Kaiko Research said, “Capital has rapidly flowed into all virtual asset projects due to a bull market similar to 2021,” and added, “Although the big investors are not actively realizing their profits, volatility is a concern. We recommend investing with caution while closely watching market conditions.”
Meanwhile, the investor sentiment index showed a state of “extreme greed.” The Fear & Greed Index calculated by the virtual asset data provider Alternative showed “extreme greed” at 81, down 1 point from the previous day. This index indicates extreme fear when close to 0 and extreme optimism when close to 100. The Fear & Greed Index is calculated based on volatility (25%), trading volume (25%), SNS mentions (15%), surveys (15%), Bitcoin market cap ratio (10%), and Google search volume (10%).
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