Bitcoin has a hard time near the $50K price range with most of the other altcoins remaining stagnant in a day. However, XTZ surged after the Ubisoft news and went on a tear with a 30% price surge so let’s read more in today’s Tezos price news.
Bitcoin has a hard time near $50K as it attempted another increase over the past day but was stopped at $52,000 and retraced to over $50,000. Most of the altcoins stalled since the increases yesterday with a few exceptions like Tezos that surged by 30% in one day on the Ubisoft news. surged by nearly 30% in a day. The reports show that the massive crash is what drove Bitcoin from $58,000 to a two-month low of $42,000 which resulted in $2.5 billion in liquidations from 400,000 over-leveraged traders. The asset recovered over the weekend but was stopped in the tracks at nearly 50,000. however, it managed to breach this level yesterday.
BTC kept climbing in the next few hours and touched $52,000 which is where the bears stepped again and pushed it south. As a result, BTC now stands at over $50,000 with a market cap of $950 billion. Most alternative coins mimicked the BTC performance which means they dropped in value on Saturday and charted some strong gains yesterday. Most coins stalled or even retraced like ETH went from $4,600 to $3500 in a few hours during the crash and surpassed $4400 a day ago. After the minor 24-hour drop, ETH stands below this line and Binance Coin lost a similar percentage while now standing at over $585.
Solana declined the most from the bigger cap altcoins. A 6.5% decrease drove SOL to below $200 and Cardano dropped by 5.5%, Terra by 03%, Avalanche by 5%, and Shiba Inu which is also in the red dropped by 3%. Ripple and Dogecoin are in the red as well while Polkadot gained 1%. Chainlink is the biggest gainer from the larger-cap altcoins with an 11.5% surge to 22%. Tezos is standing out today as it surged by 30% after a partnership with Ubisoft. Overall, the crypto market cap is down by $50 billion in one day and it is well below $2.4 trillion.
Markets are reacting in favor of the announcement that Ubisoft will become the first video game publisher that will create in-game NFTs. The shares of the company were trading 4% higher today but since Tezos is the main blockchain partner of Ubisoft, is actually the real winner.
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