The Crypto Comeback
On Saturday, September 28, the cryptocurrency universe decided to throw a recovery party, where all top-20 cryptocurrencies decided to show up in the green zone. Leading the pack, Bitcoin (BTC) was seen confidently hovering above the $8,000 mark, like a hawk surveying its territory, according to data from a prominent source.
Bitcoin’s Daily Dance
Over the past 24 hours, Bitcoin has been on a bit of a rollercoaster ride, trading within the range of $7,889 and $8,244. At last check, it’s enjoying a modest rise, trading at roughly $8,093—up 1.6% on the day. Of course, it’s been a rough week for BTC, which is down by 20.4%, and monthly losses are staring at a daunting 18.16%
Lightning Network Vulnerability Shocker
In a plot twist that had us all on the edge of our seats, Rusty Russel, a developer associated with Bitcoin’s Lightning Network, unveiled a vulnerability that emerged this past August. The issue reared its ugly head while attempting to open funding channels, but fear not—he also shared a fix. It’s like discovering a hole in your boat and immediately figuring out how to patch it up!
Ether’s Ups and Downs
Meanwhile, the second-largest cryptocurrency by market cap, Ether (ETH), was trading around $171.4, enjoying a lovely 4.08% bump for the day. However, don’t be fooled by the current gains, as it dipped to a low of $161 earlier this week before managing a rally to a high of $218. It’s a classic case of ‘what goes down must come up’—or perhaps vice versa!
Riding the XRP Wave
XRP, the third-largest cryptocurrency by market cap, has also been on the move. Trading at around $0.239 with a slight gain of over 1% at the time of writing, XRP started the day closer to $0.234, steadily climbing upwards. However, the past week hasn’t been forgiving, recording a loss of 17.9% and 6.79% over the month—talk about a rollercoaster!
Market Overview and Notable Gainers
On a broader scale, the total market capitalization of all cryptocurrencies hovers around $215.5 billion, while daily trading volume stands at an impressive $50.7 billion. Other notable performers of the day included:
- Tezos (XTZ) – up 6.53%
- Algorand (ALGO) – up 3.56%
- Chainlink (LINK) – up 4.7%
- Binance Coin (BNB) – up 3.7%
- Bitcoin Cash (BCH) – up 3.42%
European Central Bank Watch
In regulatory news, European Central Bank (ECB) President Mario Draghi addressed the European Parliament, mentioning that the ECB closely monitors cryptocurrency developments. Draghi’s message was clear: while they have butterflies for innovative technologies like stablecoins, they’re not quite ready to replace traditional fiat currency just yet.
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