NEAR protocol rises 12% while Bitcoin tapped the $39,000 price range and most altcoins followed and bounced off from the weekend bloodshed so let’s read more today in our latest altcoin news.
NEAR protocol rises 12% and gained the most from the larger cap altcoins. After making the multi-week low yesterday, BTC reacted well and surged by $2000 in the next few hours with most altcoins being in the green after the corrections. Near leads the with a double-digit daily increase. After dropping to $41,000 last week, BTC started the rapid descent and found itself trading below the $38,000 price range a day later. The bulls stepped up and pushed the asset north so as a result, BTC was above $40,000 after but as it happened the last time but it didn’t stay there for long.
BTC crashed once again and remained below the $39,000 for a few days and another price drop came yesterday when the asset crashed to $37,500 and became the lowest level in about two months. The bulls intercepted the move once again and drove BTC north and this time, the crypto jumped to $39,000 and now ists a few hundred dollars south of this line. Its market cap now sits at $740 billion and its dominance over the altcoins is above 42% and most of them suffered most in the past week.
The altcoins felt the bearish market sentiment but in the past 24 hours were more positive for the market. Ethereum is up by around 2.5% and sits at $2850 while the second biggest crypto fell to a multi-week of its own at $2700. Binance coin trades at $390 after a minor daily increase with DOT, AVAX, ADA, TErra, and SHIB Are also in the green. Ripple jumped by 5% in the past day and stands above $0.6 with the bigger gainer being NEAR Protocol which added 11% of value sitting at $12. The market cap recovered $40 billion a day ago and it is set at $1.750 trillion.
As recently reported, NEAR lending project and stablecoin protocol Bastion closed a $9 million Series A led by Three Arrows Capital while FTX Ventures and Jump Crypto took part in the round. Bastion’s founder goes under the N2 pseudonym and said the five-person team that will use the funds to hire more developers.
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