Bullish sentiment seems to be taking over the crypto market again, bringing the price of bitcoin back close to $40.000 per unit. Other cryptocurrencies in the market are following the cryptocurrency's growth.
The price of Bitcoin (BTC), the cryptocurrency digital industry leader, is once again approaching the $40.000 level, driving the growth of other digital assets in the market.
Bitcoin appears to be resuming its bullish trend, with a 7% increase in value in the last few hours. According to the data, data According to CoinGecko, a major cryptocurrency data provider, the price of BTC rose from $37.100 yesterday to $39.800 per unit at the time of writing. The price of bitcoin briefly surpassed the $40.000 level on two occasions in the past few hours.
Source: CoinGecko
The BTC price is showing a weekly growth of more than 21%. Despite the bullish signs, the truth is that the Bitcoin price has been oscillating in a range between $30.000 and $40.000 since the end of May, and analysts are still unclear about which path the cryptocurrency will choose in the short term. On July 26, the Bitcoin price broke the $40.000 level for the first time in 6 weeks, but within a few hours it fell to the $37.000 level again.
The announcements of several tech giants interested in cryptocurrency seem to be the main cause of BTC's value growth. Although Amazon denies rumors of accepting bitcoins as a means of payment, if you are hiring a crypto expert and blockchainWhile Twitter y Tesla are betting on the adoption of bitcoin. Also, the interest of Facebook becoming a metaverse company is driving bullish sentiment in the crypto space.
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Other cryptocurrencies are also gaining strength
Ethereum (ETH), the second cryptocurrency in the market by capitalization after Bitcoin, is also gaining strength, with an increase in its price of 5% in the last few hours and 27% in the last week. The price of ETH rose to $2.320 per unit.
Another major cryptocurrency that is rapidly gaining popularity in the crypto space is Axie Infinity Shards (AXS), the governance token of Axie Infinity. The mass adoption of this blockchain game, which already has more than 350.000 active users worldwide, has boosted the price of AXS to new all-time highs, with an increase in value of more than 1.200% in the last 30 days.
AXS is trading at a current value of $48,4 per unit, although yesterday it broke its ceiling marking a new all-time high. The price of AXS surpassed $52,1 yesterday, according to data from CoinGecko.
Source: CoinGecko
Most cryptocurrencies and digital assets, with the exception of stablecoins, are also accompanying bitcoin in the recent price rise. altcoins The cryptocurrencies that have shown the highest returns in the last few hours are: Ankr (ANKR), The Sandbox (SAND), Storj (STORJ), Terra (LUNA) and Iota (MIOTA), with an increase in value of more than 15% and 20%. Likewise, Theta (THETA), Flow (FLOW), Quant (QNT), Siacoin (SC) and Mina (MINA) have a performance of more than 8% in the last 24 hours.
Decentralized finance tokens (DeFi), such as Chainlink (LINK), Origin Protocol (OGN), and Avalanche (AVAX), including LUNA and ANKR, are also showing strong returns, with an increase in value of more than 6%.
More than $1,5 trillion in capitalization
Cryptocurrencies are now a $1,55 trillion market, according to data from CoinMarketCap, another major data provider for the crypto industry. The recovery in the price of Bitcoin and other cryptocurrencies has again boosted the market capitalization of the entire market, which has recovered nearly $304.000 billion in the last week.
Source: CoinMarketCap
The recent Bitcoin price surge sparked the settlement $1.000 billion in BTC futures trading on major industry exchanges, crypto analyst and investor Willy Woo noted via his Twitter account.
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