Bitcoin rises to $50,000, Cardano hits new high and crypto market gains $100 billion in 24 hours

SAO PAULO – After a few days without much encouragement, the cryptocurrency market is going through a day of widespread high this Thursday (2), with some important brands being hit by various assets, such as Bitcoin (BTC), which once again surpasses the $50,000.

The world’s largest digital currency once again surpasses this level after about ten days, trying to settle above it in order to seek new highs. Recently, experts pointed out that Bitcoin could soon reach $64,000, which is currently its all-time high.

In an interview with InfoMoney on August 26, Tasso Lago, a cryptocurrency expert and founder of Financial Move, had already highlighted the positive trend of the currency, noting that the factors that led to the fall since May, mainly China’s persecution of miners and speeches by the CEO of Tesla , Elon Musk, had been left behind.

According to him, over the weeks, the market understood that none of these factors affected the fundamentals of Bitcoin, with miners already settling in other regions after leaving China, while Musk started to adopt a more positive discourse on the cryptocurrency .

“Bitcoin has a strong uptrend, and I believe it can break the historic $64,000 top,” he said. For the expert, the analyzes show that the digital currency could reach US$ 90 thousand or US$ 100 thousand by the end of this year, and in correction scenarios, it would be important for Bitcoin to be able to sustain itself at least between US$ 45 and $46,000, which has happened so far.

At 12:00 pm (Eastern time), Bitcoin registered gains of 4.74% in the accumulated of 24 hours, quoted at US$ 49,587, after reaching US$ 50,343 earlier, while in reais the appreciation was 4.53%, to BRL 255,716.

The Ether (ETH), the Ethereum network’s token, also rises strongly, 6.5% at the same time, to US$3,765, trying to get closer to its historic high, which currently stands at US$4,362.

In the year, the cryptocurrency accumulates gains of 417%, well above Bitcoin (+69%), in a very optimistic scenario with the recent update in its network, in addition to the great expectations for more changes in the coming months that should lead to a improves its scalability, with lower rates and a more efficient system.

With rallies widespread among the world’s largest cryptocurrencies, in the past 24 hours the market has registered a 4.5% gain in market value, or $97 billion. Right now, all the crypts together are worth $2,224 trillion.

Cardano’s historic maximum

Another token that has drawn a lot of attention is Cardano (ADA), which this dawn registered a new historical high of US$ 3.08 and even losing a little strength, it still registers an increase of 2.91% in the accumulated of 24 hours, now quoted at $2.91.

The movement comes amid great expectations of an update on its network, called Alonzo, scheduled to take place around September 12th. With the novelty, it is expected that the network will have support for the so-called smart contracts, including Decentralized Finance (DeFi) protocols, such as the Decentralized Exchanges (DEX).

For some enthusiasts, it is this model that makes Cardano a major competitor to Ethereum, as it has lower rates and uses the Proof of Participation (PoS) consensus model, which is more agile and cost-effective compared to to the proof-of-work (PoW) model, which is still used by Ethereum (despite changing prospects).

Recently, experts consulted by InfoMoney named Cardano as one of the 5 cryptocurrencies to keep an eye on, apart from Bitcoin and Ethereum. However, there was a greater level of caution in the nomination due to the many promises already made by the developers and the little delivery to date.

Other cryptocurrencies rise sharply

Meanwhile, Binance Coin (BNB) has a lower appreciation, of 0.5%, quoted at US$ 481, while the XRP rises 3.93%, to US$ 1.25.

Solana (SOL), in turn, is a little out of step with the general movement, with a slight increase of 0.4%. However, the currency comes from much stronger gains in recent days, accumulating 52% appreciation in the last seven days. It is currently priced at $115.75.

What is seen today is great optimism with Solana’s project, which has attracted more and more attention from institutional investors, in addition to positive perspectives on news involving its network.

Seen as a rival to the Ethereum network, Solana was launched in March 2020, already having in its system the integration with smart contracts and with a more scalable network than Ethereum itself (see more by clicking here).

Also among the top 10 cryptos in market value, Polkadot (DOT) also rose sharply, 6.36%, trading at US$31.76.

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