After bad days for the cryptocurrency market, this Friday (20) started with high trading. The Cardano (ADA) and XRP currencies were among the biggest highs in the market, accumulating 20% during the night, and Bitcoin with smaller highs, accumulating 6%.
The appreciation movement – known as the “rally” – also raised Cardano’s market capitalization by 3.97%, reaching US$ 80 billion during the night. This was the biggest percentage gained since May 2021.
In the last 7 days, Cardano had accumulated an increase of 24.34% and at the time of publication of this article, Cardano was being sold at the value of US$ 2.50.
Bitcoin, on the other hand, even with the surges in appreciation, did not accumulate considerable highs. The biggest high of the week was during the early hours of today, causing the currency to be sold for the value of US$ 47,000. At the time of this publication, Bitcoin was operating at $47,048 according to CoinDesk data.
In the last 7 days, Bitcoin was the currency with the lowest appreciation in the market, rising just 4% from the previous week.
XRP is up 10.14% during the night
The XRP currency traded at $1.23 during the night, bringing the market capitalization to $57 billion. This was the biggest proportional gain since August 14, 2021. That figure is still low compared to the XRP’s biggest peak on January 4, 2018, when the currency peaked at $3.29.
In the last 7 days, the currency has accumulated a high of 19.42%, representing a 6% share of the total volume of cryptocurrencies traded on the market.
In addition, the Dogecoin currency gained 7% to sell for US$0.31; Ethereum accumulated a 7.61% increase to $3,207; and ChainLink accumulated an increase of 10.94%, reaching the value of US$ 27.53.
Is cryptocurrency the gold of the century?
For some experts, cryptocurrencies are used as the old gold reserves, which results in buying “interest” whenever they rise.
According to the new minutes of the Federal Open Market Committee, linked to the Federal Reserve of the United States, the tendency is to buy is great whenever there are economic downturns, which means that soon there will be a gradual reduction in the prices of cryptocurrencies.
Read also: “Bitcoin is not useless, but it is a passing fad”, said manager during the program
Read also: Analyst questions Bitcoin price signaling that cryptocurrency will fall
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