A brief crash
The altcoin report.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$85,028.00
2.43%$1,905.89
3.72%$2.13
1.14%$607.40
0.22%$126.88
0.91%$0.999948
-0.00%$0.172127
2.95%$0.677103
2.62%$0.237016
-1.03%$1,904.60
3.98%$84,925.00
2.36%$4.02
-2.08%$14.16
3.76%$9.36
2.29%$0.273598
2.62%$2,291.79
4.11%$1.00
0.01%$19.40
3.16%$2.42
6.04%$0.00001272
1.90%$0.170497
3.28%$84.69
0.78%$4.16
2.30%$6.24
0.01%$309.94
1.78%$4.62
2.72%$1,907.49
3.60%$0.999826
0.01%$1.001
0.04%$0.714974
-2.33%$13.11
-0.65%$2,026.83
3.72%$28.11
-0.29%$216.54
0.19%$6.22
3.68%$5.36
0.93%$0.00000766
6.33%$2.66
5.05%$1.046
-0.00%$48.45
0.86%$0.102853
3.25%$22.80
1.75%$84,958.00
2.36%$34.28
4.13%$0.792732
0.12%$5.44
1.97%$0.821655
4.80%$0.998538
-0.02%$16.95
0.31%$166.76
3.51%$1.16
0.19%$10.30
1.79%$0.02336867
2.82%$0.370457
4.61%$4.40
0.08%$1.00
0.00%$227.39
1.09%$3.73
8.26%$2.84
1.92%$3.15
0.87%$84,916.00
2.13%$0.067435
3.36%$0.200667
-1.91%$4.02
-0.11%$0.188819
5.11%$0.505289
3.96%$0.333311
0.37%$10.90
-2.25%$84,841.00
2.34%$0.47597
3.67%$0.755362
1.38%$4.68
-6.45%$0.420455
-3.19%$1,982.35
3.79%$1,379.51
2.96%$1,907.03
3.99%$1.088
3.45%$0.068941
1.47%$0.681807
8.77%$132.27
1.01%$70.29
1.26%$0.406321
-0.25%$0.815341
4.66%$1.001
-0.03%$0.527559
-0.93%$2,156.37
3.78%$0.615838
0.19%$0.00001172
4.77%$0.997655
-0.00%$8.93
1.62%$0.090329
1.75%$0.174792
0.81%$1.001
-0.04%$0.836498
3.34%$0.01358828
-2.48%$1.00
-0.03%$0.892862
2.51%$7.32
4.49%$13.63
-24.03%$3,134.71
-0.81%$83,892.00
2.26%$607.67
0.16%$2,023.02
4.01%$0.999626
-0.04%$2.27
-2.54%$0.564178
17.71%$0.01576856
2.51%$0.526903
5.76%$3,137.63
-0.45%$0.6617
0.29%$84,761.00
2.30%$0.275854
1.02%$1.001
0.11%$0.00000066
-0.19%$40.78
7.63%$0.174956
2.57%$32.09
0.88%$1.001
0.07%$162.48
1.12%$0.389453
1.82%$0.104057
0.87%$1,985.21
3.72%$0.00005958
1.14%$1.91
-4.03%$3.09
0.43%$7.38
4.23%$16.33
2.00%$0.01109339
2.43%$138.98
0.84%$0.653233
2.47%$0.999909
-0.02%$1.81
5.64%$1.91
10.65%$0.144022
1.87%$0.07379
-1.80%$0.505861
11.61%$0.498078
-2.10%$0.997602
0.12%$84,157.00
2.52%$0.519068
14.17%$2.98
10.67%$2.98
1.11%$0.25537
3.04%$0.999461
-0.01%$1.00
-0.08%$0.00501559
6.81%$16.40
1.58%$2,023.45
3.76%$27.53
-1.48%$0.715907
2.67%$0.171955
3.13%$0.15027
-0.76%$84,938.00
2.65%$0.00000044
-0.49%$1.001
0.14%$85,114.00
0.73%$1,905.57
3.77%$0.420686
-0.42%$47.01
18.08%$1.19
3.29%$0.04372507
3.41%$0.383671
-11.24%$6.32
-1.60%$1,907.18
4.13%$1,906.31
3.93%$1.002
0.28%$0.080876
0.84%$1.081
-0.12%$110.52
0.02%$0.00001991
-0.26%$5.60
5.95%$0.596741
1.96%$1,988.34
3.85%$1.099
0.32%$0.479466
0.70%$84,901.00
2.34%$0.454904
2.85%$0.00648117
2.95%$0.181606
5.22%$0.00689429
-2.82%$0.861162
1.39%$0.202401
-1.11%$0.371856
1.09%$0.999099
-0.05%$0.00000171
3.67%$1,904.03
3.68%$1,929.55
4.19%$0.999344
0.07%$0.596092
1.93%$0.00006056
0.70%$0.00518716
-6.74%$1.002
0.10%$1.54
14.21%$0.03251341
6.68%$0.00381601
-0.36%$121.94
2.29%$2.84
0.71%$0.03106287
-0.17%$1,888.39
3.80%$1.28
3.89%$1,905.58
3.75%$0.00902286
-5.04%$1.20
1.18%$0.241545
0.67%$3.71
2.34%$0.246171
0.76%$0.643907
2.56%$22.57
0.58%$0.999805
-0.02%$2.89
0.86%$84,793.00
2.50%$84,854.00
2.22%$2,014.31
3.90%$0.195225
3.08%$2,086.38
3.93%$3,116.13
17.44%$16.07
1.24%$0.520733
3.40%$0.256507
-1.21%$1.043
-0.51%$2,069.17
3.76%$0.00335823
6.64%$0.00279501
8.76%$0.545712
9.85%$0.720572
-5.98%$0.999766
0.19%$0.066306
-0.40%$0.117546
0.05%$1,900.46
3.88%$0.03480956
0.84%$0.105408
0.89%$0.03000195
0.75%$1,707.39
2.44%$0.079929
-4.12%$0.00038697
0.97%$0.00226249
-2.12%$21.08
4.28%$0.01150052
0.62%$0.926893
-1.32%$0.086007
2.59%$0.02935648
-0.67%$0.652219
2.49%$0.520381
2.47%$0.00474869
0.37%$0.277031
-6.74%$0.00239673
-0.62%$85,108.00
2.21%$0.999501
-0.02%Reading
Bitcoin is looking like it will cross the $60k threshold for the fourth time this year. The currency grew in price by almost a percent overnight to settle on a figure of $59.1k as of lunchtime UTC.
It’s still noticeably off last weekend’s ATH of $61.7k, but Bitcoin fans have been getting used to the ebbs and flows of its value over the course of its phenomenal bull run.
Back in February, when Tesla disclosed that it had purchased $1.5 billion of Bitcoin, the price surged from $38,903 to $46,196, a spurt of almost 18%.
Sustained by both retail and institutional hype, the price of Bitcoin continued to steadily climb throughout the month until, on Feb 22, the price pulled back from a height of $58,330, crashing down to $48,967 in the space of 24 hours.
That’s a 16% drop, proving that Newton’s third law about every action having an equal and opposite reaction even applies to volatile crypto markets.
Bitcoin crashed earlier this week. On March 15, the price dropped from $60k to $55k, yet it’s been quick to recover from this dip.
Institutional interest in the currency is still high. On March 19 former White House Communications Director Anthony Scaramucci’s hedge fund SkyBridge Capital announced that it had filed for a Bitcoin ETF.
SkyBridge’s application is a good sign for Bitcoin’s broader acceptance in the traditional financial world. An Exchange Traded Fund lets people invest in Bitcoin through a traditional, auditable, financial instrument.
Regulatory authorities in Canada approved two ETFs last month. The first, Purpose’s Bitcoin ETF (trading under the ticker BTCC), got off to an explosive start, amassing $421 million in assets in its first weekend since it began trading. Bloomberg ETF analyst Eric Balchunas told Decrypt at the time, “It was arguably the most successful ETF launch of all time, proportionally speaking.”
In addition to the institutional interest, the whole Bitcoin network is in a robust state. On Thursday, Bitcoin miners earned a record-breaking $64 million in one day. On the same day, the market capitalization of the entire crypto market hit $2 trillion. According to Deutsche Bank, this makes Bitcoin the world’s third most valuable currency by market capitalization.
Ethereum is still struggling to reach its previous ATH of $2000 set on Feb 20. It’s currently valued at $1,845, up 1.71% from yesterday, but still shy of its $1,937 height of last weekend.
There are small increases throughout the top 20, too, with the most notable being Polkadot and Uniswap. Polkadot’s DOT coin is valued at $39.32 today. That’s 5% more than what it was worth yesterday. UNI has had the greatest increase. It grew 6.65% overnight to settle on $32.76.
Cardano is not faring well today. Despite a 20% surge following the news this week that it would be listed on Coinbase Pro, the ADA coin dropped 2.2% overnight, making its current value $1.26.
Like most weeks, the crypto market is more or less tracking Bitcoin’s performance. For crypto fans, that comes as a minor relief this weekend.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Dogwifhat organizers have given up on their goal of advertising the prominent Solana meme coin on the Las Vegas Sphere, over a year after nearly $700,000 worth of crypto was raised for the campaign. This comes after the token’s official X account hinted in late January that the dog would appear on the exosphere in Q1 2025. Late Monday, pseudonymous organizer GamesMasterFlex, also known as Edward, took to X (formerly Twitter) to state that the push to put the pup on the Sphere has ended, and that...
Grayscale Investments, one of the largest Bitcoin ETF issuers, filed to convert its existing private Digital Large Cap Fund to a publicly available exchange traded fund (ETF). It currently contains Bitcoin, Ethereum, XRP, Solana, and Cardano. The existing private fund, which is only available to accredited investors through private placement, heavily leans towards Bitcoin with a 79.4% weighting, at the time of writing. The rest includes Ethereum with 10.69%. XRP, Solana, and Cardano take up 5.85...
In February, North Korean hackers broke headlines with what is now regarded as the largest single hack in crypto history. The Lazarus Group stole at least $1.4 billion from Bybit and later funneled those funds to crypto mixers. "Someone had pulled off the biggest hack in [crypto] history, and we had a front-row seat," Samczsun, Research Partner at Paradigm, recalled in a blog post. The researcher said they witnessed the theft in real-time and collaborated with Bybit to confirm the unauthorized a...