Just yesterday, Bitcoin started another run up and recorded a new two-month high. A number of other coins, such as MATIC, which reached $1.2 earlier today, have also experienced significant rises over the last 24 hours.
Following US-related events, the major cryptocurrency experienced increased volatility at the beginning of the month. BTC fell from $20,800 to $20,000 when the Federal Reserve first raised interest rates by 75 basis points.
The asset shot through it this time, whereas the previous two tries to go over it failed at that level. As a result, it increased to $21,500, reaching its highest price in nearly two months.
It is currently back up by a few hundred dollars but is still above $21,000. With a market valuation well over $400 billion, it has a 38.5% market share supremacy over all other cryptocurrencies.
While Bitcoin Leads, MATIC Goes Wild
In the last day, Ethereum has increased by 3.5% and now trades at well over $1,600. On a daily basis, tiny increases are also being made by Binance Coin, Cardano, Polkadot, Shiba Inu, Tron, and Avalanche.
More than 5% of gains have been made by Dogecoin, Solana, and Polygon. Since Elon Musk installed a sink in Twitter’s offices ten days ago, DOGE has been among the best performers. Yesterday, the billionaire sacked nearly half of the employees of the social media site.
The asset has increased by 8%, reaching $35. MATIC, another big gainer, is currently trading at $1.2.
Most other smaller- and mid-cap alternatives are currently profitable. As a result, the total market capitalization has increased by $40 billion and is now at a multi-month high of $1.060 billion.
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