There was a huge rally in the cryptocurrency market last night. Earlier, the Fed issued a statement on the issue of several banks. The entire top 100 has gone green, with prices up 30% today. The total market capitalization of crypto increased by 7.2% to $1.05 trillion.
📈Market Overview #BTC price trades above $22,000
Top 10 trading in green zone: $ADA +11.8%, $ETH +9.32%, $BNB +9.28%.
Market Cap: $1.09T (+8.42%) $BTC Dominance: 39.6% (+0.88%)
Fear and Greed Index: 49 (Neutral)
Full report 👉 https://t.co/zFgWoJvA2H pic.twitter.com/zFYFfNqHGk
– CryptoRank Platform (@CryptoRank_io) March 13, 2023
Bitcoin bounces back above $22,000
Bitcoin (BTC) fell sharply last week, but the price is now back above $22,000, the same price it was before the crash. Bitcoin consolidated around $22,300 last night, but seems to be struggling to hold on to that at the moment. At the time of writing, BTC is priced at $22,020, up 7.9% today.
🔥 CZ announced that #Binance will convert the remaining $1B in industry recovery plan funds from BUSD to native cryptocurrencies including $BTC, $BNB and $ETH
Currently, the fund has $985.1M BUSD left when it sent $14.9M BUSD to Binance on Feb 3 pic.twitter.com/r68QBvumMq
— Nansen 🧭 (@nansen_ai) March 13, 2023
Ethereum has yet to reclaim $1,600
Ethereum (ETH), once again closely correlated with Bitcoin, is also up 7.9% today. Ether price briefly rose above $1,600 last night, but is now losing steam and falling to $1,578.
At the end of the day, almost 8k ETH was distributed to validators via mevboost.
Almost double the amount we saw during the FTX crash. 1/2 pic.twitter.com/gopnAT45zx
– Toni Wahrstätter 🦇🔊 (@nero_eth) March 12, 2023
USDC Nearly Recovers Pegging
Usually we ignore stablecoins from this overview, but Circle’s USD stablecoin USDC took a big hit over the weekend. This morning, USDC hit the $1 price again. However, the USDC price is currently back down to $0.99, but is still up 4%.
Update thread on USDC
We are pleased to see the U.S. government and financial regulators taking key steps to mitigate the risks posed by parts of the banking system.
100% deposits from SVB are safe and open for business tomorrow.
— Jeremy Allaire (@jerallaire) March 12, 2023
XRP lags due to SVB exposure
Ripple (XRP) is lagging significantly today. This may have something to do with reaching out to Silicon Valley Bank. XRP did rise slightly last night, but is now back below $0.36, exactly where it was 24 hours ago.
Setting records directly on SVB Qs:
Ripple has some contact with SVB – it’s a banking partner that holds part of our cash balance. Fortunately, we do not anticipate disruption to our day-to-day operations and already hold the majority of our dollars through a wider network of banking partners.
— Brad Garlinghouse (@bgarlinghouse) March 12, 2023
Cardano Hardest to Climb Crypto Top 10
Then the green numbers rose rapidly again. Polygon (MATIC) rose 4% to $1.11 today. Dogecoin (DOGE) rose 4.1 percent to $0.069. Solana (SOL) rose 6.6 percent to $19.25. Binance Coin (BNB) rose 7.4 percent to $296.5.
Cardano (ADA) is the big winner in today’s top 10. ADA failed to recover $0.34 last night, but is still up more than 9% today at $0.332.
ICYMI: Our weekly #Cardano development update live on #EssentialCardano
Check out our development team’s latest updates to see our latest development progress.
As always, we welcome your feedback and comments 👇 https://t.co/VYvvG7RwH5
— Input Output (@InputOutputHK) March 12, 2023
Top 100 Fastest Gains in Cryptocurrencies
The top 100 is full of people who are harder to climb. Curve (CRV), sandbox (SAND), neo (NEO), rocket pool (RPL), litecoin (LTC) and apecoin (APE) are up 10% today.
Tron (TRX), bitget token (BGB) and kava (KAVA) are up more than 11%. Singularitynet (AGIX), phantom (FTM), gmx (GMX) and ethereum classic (ETC) have rallied nearly 12%. Frax share (FXS), aptos (APT) and dash (DASH) are up around 13%.
Filecoin is up nearly 20%
Then the numbers start increasing at a faster rate. Immutablex (IMX) is up 15%, graph (GRT) is up 17% and lido (LDO) is up nearly 18%. In fact, Filecoin (FIL) is up almost 20% today.
1 day left until FVM 🚀
Watch live on YouTube: https://t.co/byYCR3wO2E pic.twitter.com/7kviu2eErx
— Filecoin (@Filecoin) March 13, 2023
Synthetix up nearly 30%
Then we’re not done yet. Render (RNDR) entered the top 100 with a 20% gain. Stacks (STX) has gained 22% and Optimism (OP) has gained 24.5%. Maker (MKR) is up 27% and synthetix (SNX) is up nearly 30%.
Daily trading volume exceeds $200 million today
– Synthetix ⚔️ (@synthetix_io) March 13, 2023
Conflux Fastest Climber Crypto Top 100
Conflux (CFX) was once again the big gainer in today’s top 100, up 30.5% to $0.19. Despite last week’s drop, CFX prices are still up 235% compared to a month ago.
#Conflux Fear and Greed Index is currently at 100 – INSANITY
24-hour technical analysis index: 59 – BUY
Relative Strength Index: 21
Current #CFX price is $0.14568152434989215
Live analysis of $CFX and other top 100 #altcoins pic.twitter.com/0GkOHyfvxz
— Crypto Fear & Greed Index (@CryptoFGI) March 12, 2023
Our analysts use Bybit
The cryptocurrency market is volatile and constantly changing. Usually after each increase, there will be a decrease. Therefore, our analysts use Bybit to benefit from the price drop as well. By using Bybit, you can choose to trade derivatives and place so-called short orders when you expect prices to fall. Very conveniently you can easily create an account via this link, Bybit registers you from Crypto Insiders. With it, you support our platform and become eligible for great prizes and offers.
Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips presented on this site are based on our analysts’ own insights and experience.
Source of information: Compiled from CRYPTO-INSIDERS by 0x Information.The copyright belongs to the author Kevin Schijven, and shall not be reproduced without permission