BTC gets $ 48,000 back while AVAX tokens skyrocket after USDC news
BTC has regained the $ 48,000 price range in the past 24 hours as Avalanche added 15% of its value after the USDC news and climbed over $ 90 as we read more on the latest crypto news today.
Bitcoin has responded well to the recent drop in prices, bouncing back a few thousand dollars to allow BTC to win back $ 48,000.
The past few weeks have not gone smoothly for the big cryptocurrency as it struggled with the coveted $ 50,000 mark and its recent December rejection when it pushed it south again.
Over the next 24 hours, BTC lost more than $ 5,000 in value, falling to a 10-day low below $ 46,000. BTC rebounded fairly quickly, reaching nearly $ 48,000, but then the bears continued to inflict a lot of pain on the asset. As a result, BTC fell to over $ 46,000 a few hours later, and since then the cryptocurrency has struck, hitting an intraday high of $ 49,000. It’s now down a few thousand dollars, and it’s still around $ 48,000, and its market cap is over $ 900 billion. Most altcoins took a hit when ETH fell below $ 4000 for the second time since the start of the month. It’s now up 2% in a day as the second largest cryptocurrency stays below that level.
Cardano, Polkadot, Terra, SHIB and Ripple are also generating more profits on a daily basis and Solana is up 7% near $ 170. Dogecoin and AVAX saw the biggest gains as DOGE is up 13% and is currently above $ 0.18 while AVAX is up 15%. The dramatic jump came after the blockchain project announced it would support USDC. Apparently some other gains from Waves are 12%, Elrond 17%, XDC Community 10% and Around 9%. The market capitalization of cryptocurrencies rose by $ 50 billion to under $ 2.2 trillion in one day.
Avax, the native token of the Avalanche blockchain, has grown 16.2% in the last 24 hours and is a leader in resurgent markets. Prices began to rise on Tuesday after payment company Circle announced the launch of stablecoin USDC on the Avalanche network. AVAX hit an all-time high of $ 144.96 shortly after entering the top 10 cryptocurrencies by market cap and when the market collapsed the price of the token fell to $ 77 but rebounded and rose to 91 today, according to CoinGecko, $ 53.