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BTC Approaches ATH Near $65,000 Due to Potential Demand from Developing Countries
Bitcoin(BTC) price is regaining momentum as bulls launch a new bid towards all-time highs. More than 94 million people in developing countries are willing to abandon national currencies in favor of cryptocurrencies. After a couple of correction days, the cryptocurrency market is back in the green, mostly for most altcoins.
Solana NFTs are currently available on the FTX market
FTX US has announced its support for a Solana(SOL) NFT marketplace in its latest push to expand its NFT services to its clients. This means that users of the exchange can now utilize the platform to mint, trade, auction, and authenticate NFTs based on the Solana blockchain.
Ethereum reacts to Bitcoin in the same manner as silver does to gold
Despite the fact that BTC is employed as a store of currency, Ethereum(ETH) includes additional use cases due to its blockchain’s smart contract capabilities. Ethereum, like silver, has many more applications than Bitcoin. It has a low environmental impact, viruses cannot thrive on it, and it has numerous medical applications. The same is true for Ethereum, which is used for DeFi and NFTs.
Near-term support levels may be significant for an XRP rally
Ripple(XRP) was creating its third red candle in a row as the currency continued to recoup losses following a run-up to $1.23. Moving ahead, the focus will be on the area between the daily 20-SMA, 200-SMA, and the 50% Fibonacci level. When the larger market turns risky, a comeback from this convergence could spark a new rally for XRP.
As Bitcoin slows, Solana and Dogecoin hit weekly lows
Bitcoin appears to have started a new bull run during the last week: as of yesterday, the market’s leading cryptocurrency was closing in on the $60,000 barrier, a high it last reached in April. Last week, Dogecoin(DOGE) was also performing well. Elon Musk’s preferred coin, however, has taken a beating. Solana had a difficult day as well.