BTC Reclaimed $48K As AVAX Token Soars Following USDC News

BTC reclaimed $48K price range in the past 24 hours as Avalanche added 15% of value following the USDC news and surged above $90 as we are reading more today in our latest cryptocurrency news.

Bitcoin reacted well to the recent price slump and increased by a few thousand dollars so BTC reclaimed $48K and most other altcoins are in the green today with Avalanche standing as one of the biggest gainers with a 15% increase following the USDC news. The past few weeks didn’t go well for the main cryptocurrency as it struggled with the coveted $50K range and the most recent rejection by December when it pushed it south again.

In the next 24 hours, BTC found itself losing more than $5K of value and dropped to a ten-day low below $46,000. BTC bounced off quite fast and neared $48,000 but then the bears continued to bring more pain to the asset. As a result, BTC Dropped to over $46,000 a few hours later and since then, the cryptocurrency went off on an offensive and hit an intraday high of $49,000. As of now, it retraced by a few thousand dollars and still lingers near $48,000 and the market cap is north of $900 billion. Most of the altcoins suffered as well with ETH dropping below $4000 for the second time since the month started. It did increase now by 2% in one day as the second-biggest crypto is still below this line.

Cardano, Polkadot, Terra, SHIB, and ripple also produced more gains on a daily scale and Solana is up by 7% nearing $170. Dogecoin and AVAX saw the biggest gains as DOGE increased 13% and now stands above $0.18 while AVAX increased by 15%. The strong jump came after the blockchain project said it will support USDC. Some more gains were evident from Waves by 12%, Elrond by 17%, XDC Network by 10%, and NEAR by 9%. the crypto market cap is up by $50 billion in one day below $2.2 trillion.

Avax as the native token of the Avalanche blockchain has been up by 16.2% in the past 24 hours leading the way in the reviving markets. The price started surging on Tuesday after the payments company Circle announced the USDC stablecoin deployment on the Avalanche network. AVAX hit an all-time high of $144.96 shortly entering the top 10 cryptocurrencies by market cap and as the markets crashed, the price of the token dropped to $77 but did recover to $91.53 today according to CoinGecko.