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- The mass mentality that was extremely bearish a couple of months ago is turning bullish regarding the crypto market.
- According to sources,30% of the volume on Coinbase came from Ethereum(ETC).
- Coinbase has also seen a big jump in the crypto market.
Bears Turning Into Bulls
The crypto market has been hectic this quarter. First, we saw a few of the biggest crashes in the history of cryptocurrencies. These include Bitcoin and Ethereum, the two most famous currencies in the global crypto market, crashing down 70% from their all-time high in October 2021. Since then, we have witnessed a huge shift in consumer behavior. The mass mentality that was extremely bearish a couple of months ago is turning bullish regarding the crypto market.
Bitcoin is finally picking up speed in the charts. This is proven by the 12.36% Bitcoin growth surge within the last five days. As of this writing, Bitcoin is trading at $23,401. In the last 24 hours, it went up by 6.4%. It is not just about the coins; the recent shift in investors’ perception has also started impacting the Wallstreet. Take Marathon Digital Holdings as an example. This technology company specializing in crypto mining has witnessed a 3x surge in trading volume. Marathon stock price went from $8.83 to $9.82. This is a 22% price surge in just 24 hours.
Highest Jump in The Crypto Market
According to sources, a large percentage of volume on Coinbase came from Ethereum(ETC), 30%, to be precise. Also, The trade percentage of BTC was 20%. Coinbase has also seen a big jump in the crypto market. This is clearly shown by their share value, which, according to NASDAQ, has grown more than 9% to 59%. This is happening despite the company’s announcement to its affiliate marketers that it is time to close the program.
Polygon’s MATIC shows the highest increase in the crypto market. Any guesses? Well, you might be surprised to know the daily surge in the stock price recorded is 22% in just 24 hours. This gives investors much hope regarding the future of bitcoin and crypto as we know it.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
