Majors and altcoins surged on Monday after BTC broke 47,000 USDT.
The total cryptocurrency market is up almost 2% today. BTC is up a whopping 6%, while ETH has increased by nearly 6.5%. Altcoins’ share is in the green, with ONE și SOL up 10.1% and 9.5%, respectively.
Cryptocurrency prices continue to move higher as traders persist in feeling bullish sentiment following Terraform Labs’ decizie to buy $3 billion worth of BTC. For the first time since November of last year, the Crypto Fear and Greed Index lovit 60 — showing signs of optimism reentering the market.
NFT Snapshot: Avalanche launches $100M culture initiative
Fundația Avalanche a anunțat a $100 million fund called Culture Catalyst at the Avalanche Summit in Barcelona. In partnership with OP3N, a startup dedicated to nonfungible token creators and collectors, the initiative seeks to cultivate art, entertainment and community within the Avalanche ecosystem.
As part of the announcement, musical artist Grimes joined the presenters on stage via video, where she shared her plans for an “intergalactic childrens’ metaverse book” on the blockchain. She will be paid in AVAX, along with other creators.
Ava Labs president John Wu said, “the Avalanche Foundation’s Culture Catalyst Initiative with OP3N marks a watershed moment for entertainment and pop culture applications on Avalanche.”
Top altcoin gainers and losers: Meme coins shine
- ELON/USDT +18.21%
- SAMO/USDT +17.37%
- IMX/USDT +11.00%
- UMEE/USDT -0.27%
- MINA / USDT -2.15%
- ZEC/USDT -2.25%
There are not many red tickers today, with memecoins leading the pack. ELON și SAMO, in particular, are up big — with others following close behind.
Despite a strong few weeks, ZEC is one of the few tokens down on the day.
BTC technical analysis: Breaking up
After consolidation above 44,000 USDT over the weekend, BTC made a massive push upward toward 47,000 USDT into Monday. This move is significant, cracking levels not seen since early January. After a big move like this, bulls will want to see this hold for a shot to push higher.
ETH technical analysis: Eyeing higher
ETH saw a similar move to BTC on Monday after jumping over 6% to nearly 3,400 USDT. The 3,300 USDT mark had proven to be a level of strong resistance for buyers since February. Bulls now have their sights on the yearly open around 3,700 USDT for a continuation from this move.
Altcoin technical analysis: SHIB joins memecoin mania
Memecoins SHIB bottomed out in late January and has been seeing some upside thereafter. Most moves have been short-lived — but, with increasing bullishness in the market, many have learned from last year that memecoins go up the hardest. Buyers will want the recent spike to hold, as it has been smacked down before on prior attempts.
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Source: https://www.okx.com/academy/en/crypto-markets-open-week-with-a-bang-crypto-market-daily/