Bitcoin Touched $34K as Minimal Volume Continues: EOS Spikes 14% (Weekend Watch)
Bitcoin has bounced off from the recent lows and added about $2,000 at one point, but the trading volume still remains relatively low. The alternative coins are untypically stable since yesterday. However, there’re a few exceptions, including an impressive surge by EOS following a significant announcement from Bullish.
Bitcoin Took a Swing at $34K
The past several days didn’t go well for the primary cryptocurrency. The asset was trying to break above $35,000 on Wednesday, but the bears regained control and reversed its trajectory.
Bitcoin started losing value rather rapidly and dumped by roughly $3,000 on Thursday. It reached a two-week bottom at just over $32,000, as reported.
At that point, though, the bulls stepped up and attempted a quick recovery. As a result, BTC spiked by a few thousand dollars and broke above $34,000 earlier today. However, it failed to maintain above that particular level and has retraced beneath it.
It’s worth noting, though, that the trading volume is still low. Data from Bitcoinity exemplifies the lack of substantial volume – something that happened last weekend as well. In fact, it was the lowest trading volume in several months at that point.
EOS Pumps by Double Digits as Alts Calm
Most of the altcoin field has remained stagnant since yesterday. Ethereum went through a small roller-coaster this week from a high of $2,350 to below $2,100. Nevertheless, the second-largest crypto has calmed just above $2,100 now.
Binance Coin experienced similar price movements but currently stands over $310. Most other larger-cap altcoins have charted minor gains.
Those include Cardano (1%), Ripple (1%), Dogecoin (1%), Polkadot (1%), Bitcoin Cash (1.5%), Solana (1.5%), and Litecoin (2%).
However, EOS is among the most impressive performers, with a notable 14% surge. This comes just a day after news broke that Block.one’s subsidiary – Bullish – plans to go public through a merger with a SPAC.
The most impressive performer from the top 100 coins is the newly-entered – Axie Infinity. AXS is up by 50% in a day and 200% in a week to just shy of $20.
Flow (38%), Enjin Coin (18%), Stacks (18%), Terra (17%), Decentraland (13%), and Compound (10%) follow.
The cumulative market capitalization of all cryptocurrency assets has reclaimed some ground as well and is close to $1.4 trillion.Source