Bitcoin

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.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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