The crypto market is seeing a strong upswing. Despite bitcoin reaching a new annual record, the focus is currently shifting mainly to the altcoins. The market seems to be reacting a lot more positively to the recent Ethereum update than expected, but the rest is also picking up considerably and we even have a handful of rock-hard climbers today. Total market capitalization grows 4% to $1.333 trillion, the highest since early June 2022.
📈 Market Overview #BTС price trades above $30K
The Top-10 are traded in red zone: $ADA +2.86%, $ETH +2.44%, $MATIC +1.86%.
Market cap: $1.31T (+1.95%) $BTC dominance: 44.34% (-1.55%)
Fear & Greed Index: 61 (Greed)Full Report 👉https://t.co/pLTgcZluLT pic.twitter.com/NuF8ynpl0S
— CryptoRank Platform (@CryptoRank_io) April 13, 2023
Bitcoin is hitting $31,000
Bitcoin (BTC) hit a new all-year high just above $31,000 this morning, but is dropping back to $30,730 as of this writing. This means that the BTC price is still 2% up today, but that is a lot lower than most other prices. That is why bitcoin’s dominance is also declining further and the market is starting to talk about a possible ‘alt season’.
#Bitcoin – Dominance looks like it just peaked. Sent it down and send alts up pic.twitter.com/W5Qbxjq0di
— IncomeSharks (@IncomeSharks) April 13, 2023
Ethereum is trading above USD 2,100
Ethereum (ETH) is currently taking the lead in the market. The network rolled out a long-awaited update to ETH withdrawals yesterday. There was a lot of fear that it would lead to a big sale, but the price is still reacting a lot more positively than expected.
After the #Ethereum Shanghai upgrade traders have strongly increased long positions on ETH.
Open Interest (in # of ETH) spiked to the biggest level since January. pic.twitter.com/qZVNj61WJo
— Julio Moreno (@jjcmoreno) April 13, 2023
The ether price already reached $2,000 yesterday and even shot past $2,100 last night to a peak of $2,130, the highest price since May 2022. For now, ETH is holding above $2,100 and is almost 9% up at $2,107.
Still, a large amount of ETH is still waiting to be withdrawn in the coming days. It remains to be seen how the price will react to this, but in the meantime we are also seeing new deposits.
nooo what are you doing you’re supposed to be withdrawing not depositing noooo pic.twitter.com/6jhb9UQNLQ
— merp (@0xMerp) April 13, 2023
ADA after ETH fastest riser in green crypto top 10
The rest of the top 10 also turns a beautiful green. Solana (SOL) lags slightly but still rises 3% to $25. Ripple (XRP) is already up 3.4% and is trading around $0.53 this morning. Binance (BNB) is also up 3.4% and is around $333.
Polygon (MATIC) just made a big jump to $1.20 and is already up 6.5% today. Dogecoin (DOGE) is up by even 6.7% and reaches $0.09. Cardano (ADA) is up a whopping 7.3% today to $0.44.
📣Exciting Announcement – Aiken’s alpha phase has launched!📣#Aiken is an open source #SmartContract language & toolchain, specifically created to simplify & enhance the development of smart contracts on #Cardano.
Learn more below ⬇️⬇️⬇️@aiken_eng @rvcas @_KtorZ_ @MicroProofs
— Cardano Community (@Cardano) April 13, 2023
DeFi on Ethereum takes the lead in crypto top 100
In the run-up to the Ethereum update, it was mainly DeFi platforms on Ethereum that fell the hardest, but today they are the fastest risers on the market. For example, frax share (FXS), radix (RDX), rocket pool ETH (RETH) and ceth (CETH) are already 7% up. Aptos (APT), okb (OKB) and lido (LDO) are already up more than 8%. Optimism (OP) is up almost 11% to $2.60 and rocket pool (RPL) is even up 19% to $51.4.
The Atlas smart contracts have been successfully verified & merged ahead of next week’s launch!
This means that they are now eligible for our Immunify bug bounty program, with rewards of up to $250k available.
👇 Find out more:https://t.co/TWJhbP45ar— Rocket Pool (@Rocket_Pool) April 13, 2023
The new Arbitrum (ARB) is today the big winner from the crypto top 100. The ARB price rises by no less than 20% to $1.54 today.
1/ A smart whale bought 1.49M $ARB with 1,057 $ETH ($2.24M) today, with an average buying price of $1.5.
This whale is well worth keeping an eye on.
Traded a total of 23 tokens, of which 15 tokens are profitable, with a win rate of 65%.
The total profit exceeds $7.3M! pic.twitter.com/8o7ue43LdN
— Lookonchain (@lookonchain) April 14, 2023
Quant only descender, is this related to a hack?
However, we have an exception: quant (QNT). The QNT price made a sharp plunge this morning from $128 to $113. The price is currently recovering to $120, but is still down 3% today. There are rumors that the dump was related to a Bitrue hack. No doubt this story will continue.
There are rumors about @BitrueOfficial being hacked.
Thousands or $QNT got market sold in the past couple of hours, which explains the sudden dump in price.
There are still 28K Quant in that wallet.
We could still expect it to go down further in the short term.But, overalls,… pic.twitter.com/f4gBRF5uhh
— Nagato 𓂀 (@CryptoNagato) April 14, 2023
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