By now it is lunch time again, so we take a look at the live Bitcoin price and prices of top 25 crypto. There we see that the Bitcoin price and prices of top 25 crypto are rising in rally. We look at why. We also look at why there is stress over Ethereum’s (ETH) position and why there is panic among NFT traders.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto rise in rally
At the time of writing, the live Bitcoin price is EUR 38,286.65 ($42,190.39). This is 8.55% higher than during our Bitcoin lunch yesterday.
We also see a price rally among the top 25 crypto. Apart from the stable coins, we only see green numbers on the digital price boards. The biggest increase of the day so far is again for Terra (LUNA) with + 20.86%. On the website of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Why are we seeing a crypto rally now and how sustainable is it?
This morning in America, comments leaked from Secretary of State Janet Yellen. She confirmed, as we mentioned last night, that Joe Biden is coming out with a directive on crypto regulation. In doing so, she reported that a constructive approach is being taken to enable digital currencies. This good news was evidently appreciated by investors.
This immediately raises the question of how sustainable this rally is. We will be able to make a better assessment of this when we are able to substantiate the directive, which is expected to be published tonight or tomorrow. For the time being, therefore, we continue to trade in an uncertain market.
Stress at Ethereum (ETH) over position
The strong price increases and increasing trading volume of Terra (LUNA) is now causing headaches for investors in Ethereum (ETH). Where earlier this week the locked-in volume at Terra was already found to be higher than at Ethereum, it now also appears that miners are betting more on the strike at Terra than at Ethereum.
Incidentally, both crypto currencies are popular today. The live Ethereum (ETH) price is currently $2,751.39 (+6.29%). Also as we saw the Terra (LUNA) price is also flying up today.
Panic in NFT. Is the hype over?
There is now panic among investors of NFT. The daily trading volume is dropping faster and faster. By now, $70 million has already disappeared from the market. This is 72% lower than at the peak in November. This statistic clearly shows how fast the market is falling.
Still, there is no reason to panic. More and more large companies are entering the NFT market and registering their trademarks for digital applications. Therefore, it seems that the market is normalizing and becoming more mature. We continue to follow these developments as well. We will bring you the latest developments again tonight when the US markets close.
Staying up to date on the latest stock price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”