THORChain’s RUNE Explodes 20% in a Day, Bitcoin (BTC) Stalls at $29K (Weekend Watch)


Bitcoin continues to trade sideways, and the past 24 hours didn’t bring any deviation from the tight range between $29,000 and $29,500.

Most altcoins are also quiet on Sunday, similar to how they performed on Saturday, except for RUNE and TON.

BTC Boring at $29K

The past few weeks went in a rather uneventful fashion for the typically more volatile crypto asset. This past Monday saw some movements as BTC dipped below $29,000 to mark a weekly low. However, it went on the offensive almost immediately and had surged past $30,000 by the time Wednesday came.

More volatility was expected on Thursday when the US CPI numbers were set to come out. Yet, that wasn’t the case, and BTC remained at just under $30,000, where it had retraced hours before that.

The following several days were quite stagnant once again. Bitcoin stood still within the same tight range between $29,000 and $29,500. Expectedly, the weekend didn’t provide anything different, given the typically lower trading volumes.

As such, BTC’s market cap stands still at around $570 billion, and its dominance over the alts is just shy of 49% on CMC.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

RUNE Steals the Show

Most altcoins have also failed to produce any notable moves in the past 24 hours. ETH, BNB, XRP, DOGE, ADA, TRX, MATIC, and LTC are all slightly in the red.

Shiba Inu, which was among the top performers on a weekly scale, has finally retraced and is down by 4% overnight. Solana and Polkadot, on the other hand, are with minor gains.

TONCOIN has soared the most from the larger-cap alts. TON is up by 8% and trades at $1.4.

However, THORChain’s native token – RUNE – has stolen the show with a massive 20% surge today. As a result, the asset has jumped above $1.3.

The total crypto market cap, though, has remained stuck at around $1.170 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source link Crypto Potato


Be the first to comment

Leave a Reply

Your email address will not be published.