Anyone who follows the cryptocurrency market knows that the price of Bitcoin directly influences the price of altcoins, both up and down. Some cryptocurrencies whose projects are considered important end up standing out precisely because they have a privileged position in the ranking of the most valued assets.
Dogecoin, for example, has just gone from a daily volume of $78 million to an impressive $10 billion a few months ago, given the global confidence of its investors, which has taken it to the top 10 of the most desired cryptos.
That’s what happens with Bitcoin. The largest of the cryptocurrencies almost hit the house of US$ 67,000 this Wednesday (20th), breaking its historical price record, which was US$ 65,000. This has influenced several cryptocurrencies in the last 24 hours. See what they are, in order of market value.
Cardano (ADA) — Market value: US$71.7 billion
Cardano, 4th in the ranking of cryptocurrencies with the highest market value, has appreciated around 4% in the last 24 hours, leaving the range of US$ 2.12, reaching US$ 2.20 at around 11:50 am this Wednesday . During the period, the ADA dropped to 5th position in the Coinmarketcap with $2.09, but then recovered. At the time of writing, the asset ranges between $2.18 and $2.19.
Ripple (XRP) — $53.4 billion
XRP, Ripple’s native cryptocurrency, has appreciated about 6% in the last 24 hours and at the time of text is trading at $1.15. Despite a small drop yesterday afternoon, going to US$ 1.07 — compared to US$ 1.04 on Sunday (17) — the price of the currency has only increased since then.
Solana (SOL) – US$ 51.3 billion
Solana was one of the top 10 cryptos that appreciated the most between yesterday and today, whose gain is close to 10% at the time of the text, when it trades at US$ 170. Amidst several price fluctuations, the SOL token does not stopped going up for at least 7 days, when it traded in the range of US$ 145.
Polkadot (DOT) — US$43.7 billion
Polkadot is another currency that also gained price between Tuesday and Wednesday. At the time of writing, DOT is trading around $44, up 7%. The only recent period that cryptocurrency has gone into decline was between the 20th and 30th of September. Since then, when it has been staggering between US$ 26 and US$ 28, the currency has only risen, although fluctuating around US$ 41 at times.
Dogecoin (DOGE) — US$33.2 billion
The Dogecoin meme cryptocurrency hit the price of 25 cents this Wednesday morning and has appreciated in the last 24 hours by approximately 3.5%, after spending several hours at 0.24 cents. However, on Monday (18), the currency reached its highest peak of the week, which was US$ 0.27. But if we count the last 30 days, the DOGE has already appreciated 35%.
Former Wall Street Banker Partners With Ethereum Competitor for New $1,500,000,000 Crypto Fund
A former Citigroup executive is shaking up the crypto investment space with a $1.5 billion venture, partnering with a leading layer 1 altcoin project.
Hivemind Capital Partners is an investment firm founded by Matt Zhang, a 14-year Citigroup Inc veteran. In a press release, Zhang announces Hivemind’s mission to provide solutions to early blockchain entrepreneurs through the creation of a new “tailor-made crypto investment platform.”
“We believe blockchain technology is a paradigm shift, and we are still in the early innings. Our mission is to provide start-to-finish capital and infrastructure solutions to visionary entrepreneurs and category-defining crypto projects.
The traditional asset management model is not designed to do this, which is why we are building a tailor-made crypto investment platform from the ground up that also offers the infrastructure institutional investors need for risk management, compliance and security.”
Hivemind is partnering with payments and decentralized finance (DeFi)-focused blockchain Algorand (ALGO) as a “strategic partner to provide technology capability and network ecosystem infrastructure.”
“We believe that Algorand is the preeminent blockchain protocol that allows institutional and corporate users to connect with the decentralized economy. With the explosive growth of the digital asset space, people tend to forget how early the crypto economy still is. We want to team up with partners who have the patience to build an enduring business.”
However, Zhang notes that Hivemind is exploring partnerships with other layer 1 blockchains as the project progresses.
“We are also in active discussions to form partnerships with a number of other leading layer-1 networks. The goal is to build a multi-chain world to let our investors see the best opportunities across the entire crypto ecosystem.”
ALGO, trading at $1.82 at time of writing, is up nearly 12% on the day. The payments blockchain has interest from other large investors lately, including an endorsement from American financier Anthony Scaramucci last month.
MicroStrategy Buys $414 Million Worth of Bitcoin
MicroStrategy has announced another massive Bitcoin purchase
Business intelligence firm MicroStrategy has wowed the cryptocurrency community with yet another massive Bitcoin purchase.
The company announced Monday that it had bought an additional 7,008 Bitcoins at an average price of approximately $59,187 per coin since the beginning of October.
MicroStrategy’s Bitcoin riches have now swelled to 121,044 coins, whose average purchase price is $29,534.
The company currently holds roughly 0.64% of Bitcoin’s total circulating supply.
Bitcoin did not budge on the announcement as it continues to flatline just above the $57,000 level.
As reported by U.Today, the flagship cryptocurrency has managed to partially recover from the violent sell-off that took place on Monday.
Billionaire Tim Draper Reveals Two Altcoins He’s Watching in the Crypto Space
Bitcoin bull Tim Draper is naming two altcoins in the crypto markets that he’s keeping an eye on due to their strong fundamentals and unique use cases.
In a new interview on Bloomberg Markets, the billionaire venture capitalist says that open-source programmable blockchain Tezos (XTZ) has the things that he wants to see in a crypto project.
“What I look for is who are the entrepreneurs and who are the engineers behind a given token. I love some of the tokens. I love Tezos because it’s got a great engineering team, and they’ve redefined how to operate a token. They do it as proof of stake. They use less energy, and they have a new form of governance and that’s exciting.”
Draper says that he is also watching Ethereum-based altcoin Aragon (ANT). Aragon is an open-source software that enables users to build and manage their own decentralized autonomous organizations (DAO).
Aragon developed a community-governed decentralized court system to handle subjective disputes requiring the judgment of human jurors. According to Draper, this system could “revolutionize the way juries work.”
Looking at Bitcoin, the Draper Associates founder says that the king crypto is a great hedge against inflation, and that its protocol offers superior trust and reliability over government entities.
“For investors, I think holding on to Bitcoin is probably a good place to be because there are only 21 million Bitcoin out there, and they represent the freedom that allows us to use them anywhere and the trust in that you are trusting in the software rather than trying to trust some bank or some government entity.”