2021-03-24 20:25:00

Market Roundup: Bitcoin Taps $57,000 as Market Sees Recovery

Bitcoin volatility continued on Wednesday as prices climbed and dropped, respectively. Altcoins saw a mix of gains and losses across the board as market sentiment remained mixed.

Bitcoin has continued to see price volatility since Tuesday. On Wednesday, the price of Bitcoin was enjoying a handsome recovery back towards $58,000, touching $57,200 before a strong sell-off saw most of the upwards momentum erased. However, bitcoin remains firmly above $55,000. The cryptocurrency appears to be turning $55,000 into strong support as bitcoin continues to hold and push upwards. 

Source: Tradingview

Top 10 Shuffle Sees Red 

Following the dramatic reshuffle of the top 10 seen this week. It appears the trend has continued on Wednesday. This day saw the majority of the top 10 projects all-seeing red on the day. While the top 9 all saw red, Litecoin managed to hold off the green on Wednesday.

Theta Network (THETA) and Uniswap (UNI)  saw losses of over 5.7% and 9.5%, respectively, on the day. Following yesterday’s frog-hop over Chainlink (LINK) and Litecoin (LTC) for Theta Network (THETA), the project managed to maintain its top 10 spots, holding relatively firm on the day despite being the second-worst performer in the top 10. 

Source: CoinGecko

Top 100 Biggest Gainer and Loser 

The day featured a mix and match of gainers and losers. However, Pundi X (NPXS) was the winner as the biggest gainer of the top 100 on Wednesday.

The project has been relatively quiet in the crypto space of late. Saw a surge of 32.7% on Wednesday. Making it the biggest gainer. With Harmony (ONE) taking second place with 17%. Both projects have seen a gain of over 130% over the past week. 

Source: CoinGecko

DENT came in as the biggest loser in the top 100. The project, which was recently featured as the biggest gainer as it debuted on the top 100, has finally seen a correction on Wednesday. The correction saw DENT drop a dramatic 13.4% on the day. However, holders of the token will still be smiling as the project is up 220% over the past week. CRV also featured following a listing pump on Coinbase the day before. 

Source: CoinGecko

Wednesday offered a mixed market as the majority of majors suffered on the day. The move allowed some altcoins to pump. However, no certain direction is currently being offered as bitcoin continues to range. Should bitcoin manage to hold firm for a while, altcoins could enjoy some time to pump. 

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