After Extreme Volatility, Cardano Soars 7%, BTC Reclaimed $30K

After extreme volatility on the market, Cardano soars 7% and BTC reclaimed the $30K price level, with the shaky ride continuing in the past day as well so let’s read more today in our latest cryptocurrency news.

After extreme volatility yesterday, BTC bounced off and reclaimed the $30,000 price point and most altcoins entered the green as well with Cardano leading the way with the biggest daily surge of 7%. BTC spent most of the weekend trading around $30,000 before initiating an impressive leg up on Monday which took the asset to a multi-day high of $32,000. while the bulls are preparing for another trip to the north, the bears intercepted the move and did what they have done in the past few weeks which is push BTC south. In a matter of minutes, the cryptocurrency crashed by almost $3000 to $29,250 and while this was a wild ride on its own, it didn’t stop there with BTC reclaiming ground as fast and found itself near the $31,500 hours later. It retraced since then and now stands at $30,500 with its market cap being up by $580 billion and the dominance over the altcoins sitting at $46.6%.

PayPal said it enabled users to withdraw BTC and ETH to their personal wallets and the digital asset fund manager 3iQ launched BTC and ETH ETFs in Australia. The BTC Lightning startup Mash, announced fundraising of $6 million to expand its marketing, engineering teams, and sales. Grayscale continued with the strives to convert the BTC trust into a spot ETF by hiring an ex-US Solicitor General. The alternative coins experienced similar price movements in the past day and most are in the green now. Ethereum dropped below $1800 but now stands above this level after a 2% increase while BNB which suffered from the reports that the SEC will probe the company, increased by 3% and trades near $300.

Ripple, TRON, Avalanche, DOGE, and SHIB are also in the green while Cardano stole the show again with a 7% increase. Now, ADA sits above $0.6. the market cap regained ground near $50 billion in one day and now sits at $1.250 trillion. After updating the roadmap, Chainlink’s LINK surged by 20% to a multi-day high and Ripple partnered with LUNU to allow for luxury retailers to accept digital assets as a means of payment.