• bitcoinBitcoin$19,222.57-0.34%
  • ethereumEthereum$1,296.57-1.40%
  • elrond-erd-2Elrond$47.900.60%

Bitcoin Grows by 6%, Surpasses $47K

Bitcoin increased its value by over 6% on the day, managing to break the $47,000 level as a result of increased demand from buyers.

The King of Crypto reached a 24-hour high of $47,359 and now is registering a 62.2% year-to-date return, according to data from CoinDesk. The current price is slightly above the $47,000 level.

Daniel Kim, the head of capital markets at Maple Finance declared: “What we’re seeing are market participants testing this level and reacting to the positive news from Coinbase.”

He also added:

“We’ve been hearing commentary that hedge funds were viewing $45,000-$50,000 as a key level for it to be a ‘bitcoin market.’ Over the past 2 weeks, we’ve seen our institutional USDC borrowing demand significantly grow.”

Other cryptos that have registered an important growth during this time period are Cardano, Ether, Polkadot, Uniswap, and Polygon.

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