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The total market capitalization of the crypto market has added over $200 billion in just three days, with Bitcoin reclaiming the $33K mark and Monero hitting a record 57.9 average daily transactions. BTC price surged over $3K in a day, attaining a weekly high at the level of $33K. And on the other side, over 40,000 transactions took place within the Monero Blockchain.
Bitcoin Hits $33K Mark, Crypto Market Gains $230 Billion
Following the crash that took place on Monday and pulled Bitcoin below the level of $30K, the bulls have energized the buying movement. Currently, it is trading over $32k.
The price went up reportedly on the positive response from the CEO of Tesla, Elon Musk, at the virtual conference on Bitcoin, “The B Word.”
During the conference, Musk revealed that Tesla may soon start accepting Bitcoin that gave some light to the market and the price of it surged.
Along with Bitcoin, altcoins such as Ethereum, Polkadot, Dogecoin, Cardano, Solana, Ripple, Binance Coin, Bitcoin Cash, and Litecoin also witnessed gain in their prices.
As reported by the exchanges, Ethereum added over $400 of value, Ripple and Solana surged 3%, Polkadot jumped 7%, and Uniswap up by 6%.
Monero Trading Volume Rises, Price Climbs Up By 11%
As revealed recently, the blockchain of the private cryptocurrency Monero has recorded over 40,000 transactions and the number exceeds over 25% of the average weekly transactions volume.
Moreover, in accordance with the Monero Blocks XMR explorer, the XMR trading pairs are also facing raised volumes on charts, following a recent 12% recovery in the price of Bitcoin. Further, witnessing a rise in the price of Monero by 11%.
However, the chart did mention that the price of Monero has failed to construct a decent support level above the $200 level. It is now in the range of $200-$195 per coin.