Bitcoin's rise following markets; altcoins' progress

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Bitcoin's rise following markets; altcoins' progress

Bitcoin rose 1.4% on
        Tuesday, ending the day around $41,300 and remaining near that mark on
        Wednesday morning. Ethereum added 1.3% to $3080 in the last 24 hours, XRP
        corrected 0.9% to 0.766, and other top ten altcoins gained 0.7% (BNB) to 4.9%
        (Terra).


         
   

Total crypto market
        capitalisation, according to CoinMarketCap, rose 1.3% overnight to $1.92
        trillion. Bitcoin's dominance index was little changed, remaining at 41.0%. By
        Wednesday, the Cryptocurrency Fear and Greed Index remained at 27 points
        (fear). Bitcoin on Tuesday tested 8-day highs above $41,700 on the back of
        rising US stock indices, which strengthened for a second straight day.

           

       
       
       
   


         
   

Correlation between
            BTC and the Nasdaq Composite Index has been highest since July 2020


         
   

Terra (LUNA) gained
        5.5 per cent as Terra USD (UST) moved up to third place in terms of
        capitalisation among stablecoins.


         
   

Chamath Palihapitiya, CEO of Social Capital
        and Virgin Galactic, said Solana (SOL) could capture market share in
        traditional financial services by challenging Visa and Mastercard. SOL is up
        4.6%. The creators of the largest anonymous cryptocurrency, Monero, have
        confirmed that a 15th network hardfork is set for July 16.


         
   

Jack Mallers, CEO of
        payment service Strike, said that bitcoin as a payment method is superior to
        all other systems. Nevertheless, it is better not to spend BTC but invest in it
        long-term. The US Secret Service's Office of Investigations (USSS) has
        disclosed that since 2015 the service has seized more than $102 million in
        digital assets from criminals.


         
   

The Financial Action
        Task Force (FATF) believes that nearly half of the world's countries are not
        complying with anti-money laundering and counter-terrorist financing (AML)
        regulations. FATF has pledged to monitor member countries, including the US,
        China and the European Union.


         
   

This article was written by FxPro's Senior Market Analyst Alex
                Kuptsikevich.
           
       


         

Source: Bitcoin's rise following markets; altcoins' progress

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