Bitcoin Tests $31K as Top Cryptocurrencies Rally
Most major digital assets were trading higher on Friday, with Bitcoin (BTC-USD) testing $31,000 mark briefly for the first time since June 8.
The largest cryptocurrency by market value was changing hands at $30,292, down 0.4% in the past 24 hours, after reaching a day’s high of $31,005, CoinMarketCap data showed. Trading volume was $22.44 billion, up 28%.
Ethereum (ETH-USD), the second-largest digital asset, was trading up 3.3% to $2,079, after reaching a day’s high of $2,124, the highest intraday price since May 17.
Ethereum has outperformed Bitcoin over the past seven days, adding more than 12%, compared with an 8% gain for the most popular cryptocurrency.
BNB (BNB-USD), the fourth-largest digital asset, increased by 1%, and XRP (XRP-USD), the sixth-largest, advanced by 1.7%. Cardano (ADA-USD), Dogecoin (DOGE-USD), and Polygon (MATIC-USD) rose 2.2%, 1.3%, and 2.2%, respectively.
The CoinDesk Market Index, the benchmark index for 166 digital assets, increased by 0.8%. The Nasdaq 100, the S&P 500, and the Dow Jones Industrial Index were down 0.5%, 0.4%, and 0.6%, respectively.
The cryptocurrency industry’s global market capitalization increased by 0.7% to $1.27 trillion. Twitter is partnering with the trading platform eToro to make it easier for its users to trade cryptocurrencies and stocks.
The “$cashtags” feature will display real-time price data. Users will be able to click on a “view on eToro” button to buy or sell cryptocurrencies or stocks.
This collaboration reflects, in part, Twitter users’ interest in the financial markets and cryptocurrencies – a development that has been noted to be part of the transformation of Twitter initiated by Elon Musk.
Dogecoin, which is considered the Twitter CEO’s favourite cryptocurrency, rose more than 5% in the minutes following the announcement. #Bitcoin Tests $31K as Top Cryptocurrencies Rally