The crypto-market continues to climb. After showing signs of recovery yesterday, the market went into full recovery mode, will all of the top 20 currencies showing gains. The biggest gainer in the top 10 was Ethereum, jumping more than 18%, rising as high as 25% at one point.
Yesterday wasn’t the first time when Ethereum crossed the $300 mark. It even went over $400 earlier this month. However, in the past two weeks, the cryptocurrency did not have more than two consecutive green days and frequently fell below the mark. Now that it has leapt more than 18%, blowing past the psychologically important milestone, investors are hoping that it could stay above the mark in the long-term. Ethereum is still extremely popular, once again beating Bitcoin in the trading volume category yesterday.
While other cryptocurrencies have been showing major price swings recently, Bitcoin, the world’s largest cryptocurrency by market cap, has curbed some of its erratic behaviour. Bitcoin showed gains yesterday, climbing back over $2,500. While still extremely volatile when compared to traditional financial instruments, price fluctuations seen in recent days remained under 5% for the most part, making it more stable than all other major cryptocurrencies.
Venture capital firm Pantera Capital, known for its investments in blockchain technology, has announced that it is raising a new investment fund aimed at the cryptocurrency market. The fund, to be called Pantera ICO Fund LP, will be used solely for the purpose of acquiring new cryptocurrencies that hold initial coin offerings (ICOs). Pantera intends to raise $100 million for the fund, which will be gradually used to purchase new currencies over time.
This article was first posted on Etoro.com/blog, a Premium Trading Partner.
Last modified: March 4, 2021 4:57 PM