Crypto investors were on the edge of their seats this week, as major announcements led to a surge in various coins. The market cap for Bitcoin surpassed $100 billion and the price of Ethereum reached an all-time high, but what does it mean for the future of cryptocurrencies?
The why crypto market is down today is a question that has been asked many times. There are many reasons for the market to be down, but the most likely reason is major announcements from various companies in the cryptocurrency space. Read more in detail here: why crypto market is down today 2021.
The value of several crypto and Defi currencies has risen as a result of a major announcement.
Paypal, which does business with millions of merchants all over the globe, said on March 30th that it is now taking bitcoin as payment from US-based dealers.
While the news will undoubtedly boost the crypto market in the long run, the announcement’s short-term consequences are also positive.
Two of the currencies we’re talking about in this article—Hot and OGN—recorded all-time highs after Paypal’s announcement, while one—WAN—recorded a three-year high.
Hot launched in 2018 and is already among the top 50 cryptocurrencies.
Despite the fact that the news has had a major effect on the coin’s value, it has been in a positive trend since mid-February.
It was trading at $0.0010 before mid-February, but it has since risen by over 550 percent, and it now trades at $0.017.
It has increased by almost 300 percent in the past seven days, reaching an all-time high of $0.02 yesterday.
OGN (Origin Protocol):
OGN is a Defi token that was released in the first half of 2020. It has seen an almost 1600 percent increase in value since its inception. The most of its growth has occurred in the past three months or so.
It is presently in a bullish attitude, having increased by almost 300 percent in only seven days. OGN hit an all-time high of $2.34 only yesterday and is now trading at $1.95 at the time of writing, down 15%.
Wan is also a Defi currency, and it is included in today’s post since it gained considerable traction only yesterday. Wan had just reached the $2.20 price barrier a few hours earlier. The cryptocurrency is now trading at a three-year high.
There was a surge of various crypto coins after the major announcements that were made. Reference: real-time cryptocurrency news.
Frequently Asked Questions
What is causing the surge in cryptocurrency?
The surge in cryptocurrency is caused by the fact that there are more and more people who want to use them.
Which crypto coin has the most potential?
I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer.
What is the next big cryptocurrency to invest in 2021?
The next big cryptocurrency to invest in is probably going to be Ethereum.
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