Binance Coin hits 2-month high above $300, Bitcoin stops at $23,000

After some volatility over the past 24 hours, Bitcoin is once again stable near $23,000, at least for now.

Most altcoins are also fairly stagnant on a daily scale, but Binance Coin surged to multi-month highs above $300.

BNB above $300

Most alt coins have experienced some heightened price volatility over the past few days, but have now calmed down.

For example, Ethereum traded above $1,700 last week, but fell to $1,500 a few days later. It managed to regain some lost ground and is now sitting above $1,600.

On a daily scale, Ripple, Cardano, Dogecoin, Shiba Inu, Avalanche, and MATIC also lost money slightly.

By comparison, Polkadot and Solana have seen little gain. Binance Coin was the biggest gainer among the larger market cap stocks, gaining 5%. As a result, BNB reclaimed $300 and hit a two-month high above that level earlier today.

The NEAR protocol also gained an impressive percentage (8%) in a day, trading well above $4.50.

An overview of the cryptocurrency market.Source: Quantitative Encryption
An overview of the cryptocurrency market.Source: Quantitative Encryption

Industry news

Slope Wallet – a third-party wallet provider on Solana – is clearly the culprit behind the attack on the popular blockchain network.

Cryptocurrency exchange ZB may be the latest hack victim, according to PeckShield.

The new report claims that more than 44 million smart contracts have been deployed since the inception of the Ethereum network.

Bitcoin calms down at $23,000

The major cryptocurrency closed last month on a high, hitting a six-week high and ending a three-month losing streak.

Since then, however, the asset has been underperforming, falling from $24,600 to $23,000 almost immediately. It also spent weekends around the latter.

It surged to $23,600 yesterday, but fell back below $23,000 immediately. As of now, BTC is still struggling below this line after a small daily dip.

As a result, its dominance in alts dropped to 41%, while its market cap was just under $450 billion.

Bitcoin dollar. Source: TradingView
bitcoin dollar. Source: TradingView

Bitcoin News

Mastercard’s chief financial officer said bitcoin and cryptocurrencies are an asset class, not a payment instrument.

Scaramucci of SkyBridge Capital said that BTC has bottomed out in this bear cycle and will not drop below $17,500 again.

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