Bitcoin Tests $21K as Ripple Explodes 14% in 24 Hours (Market Watch)

CryptoPotatoPublished on 2022-06-24Last updated on 2022-06-24

Abstract

XRP has surged by double-digits in a day. Other alts - such as AVAX, OKB, ATOM, and NEAR have seen impressive gains as well. BTC is close to $20K.

XRP has surged by double-digits in a day. Other alts – such as AVAX, OKB, ATOM, and NEAR have seen impressive gains as well. BTC is close to $20K.

Following the recent volatility, bitcoin managed to sustain above $20,000 and even spiked towards $21,000. The altcoins have also charted some impressive gains in the past 24 hours, with XRP leading the race.

Bitcoin Eyes $21K

After last week’s massive correction, which culminated in an 18-month low at $17,500 on Sunday, the bulls have been trying to recover some of BTC’s lost ground.

This resulted in a jump to $21,500 a few days ago. However, bitcoin failed there and even dipped below $20,000 after Jerome Powell – the Chairman of the Federal Reserve – reaffirmed the central bank’s plans to continue raising interest rates in desperate attempts to fight the skyrocketing inflation.

Nevertheless, BTC recovered quickly to its sub-$20,000 ride and increased above it yesterday. The past 24 hours brought another leg up, and the asset currently sits just inches away from $21,000. Consequently, its market cap has neared $400 billion once again, but its dominance has declined to below 43%.

BTCUSD. Source: TradingView

Notable Bitcoin News

Binance’s CEO believes bitcoin will eventually chart a new all-time high above $69,000, but it could take up to two years to do so.

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The legendary legacy investor Mark Mobius called bitcoin a “leading indicator,” which is followed by the Dow Jone and other stock market indices.

The US arm of the world’s largest exchange – Binance US – started offering zero trading fees for BTC spot pairs.

XRP Stands Out

Most of the alternative coins continue with their attempts to recover some of the recent losses.

Ethereum has been fighting with the $1,100 line for several days but seems well above it now after another 4.5% daily increase.

BNB has tapped a multi-day high at just over $230, following a price jump of 3.3% in a day. Cardano, Solana, and Polkadot are up by similar percentages, to $0.5, $38, and $8, respectively.

After announcing a new BTC bridge yesterday, Avalanche has soared by 9% and has neared $20.

Nevertheless, Ripple’s native token stands out as the most impressive gainer from the larger cap alts. XRP has surged by over 13% and now trades at $0.37.

MATIC is once again up by double-digits after stealing the show yesterday. OKB, ATOM, NEAR, XLM, ALGO, XMR, THETA, and AXS have seen notable gains as well. The crypto market cap is up by $30 billion and is close to $950 billion.

Cryptocurrency Market Overview. Source: Quantify Crypto

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What is $BITCOIN

DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. 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363 Total ViewsPublished 2025.05.13Updated 2025.05.13

What is $BITCOIN

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