Bitcoin rose on Tuesday, continuing to recover after recent losses, as increasing confidence in a December interest rate cut by the U.S. Federal Reserve supported risk assets.
The cryptocurrency XRP was trading at $2.2768 at 20:28 GMT on the Investing.com Index on Monday, marking a 10.06% gain for the day. This was the sharpest daily increase in the cryptocurrency since November 24.
Bitcoin rose moderately on Monday after a difficult week but remained under pressure due to increased redemptions by institutional investors and uncertainty surrounding the Federal Reserve’s policy ahead of December.
Today, the price of XRP, the fourth-largest cryptocurrency, increased by 12%, surpassing the $2.55 level. This growth was driven by the fact that the Depository Trust & Clearing Corporation (DTCC) listed several applications for spot exchange-traded funds (ETFs) based on XRP.
Bitcoin rose on Monday alongside a broader rally in risk assets, as U.S. lawmakers made progress toward ending a prolonged government shutdown.
The Zcash (ZEC) token has surged 63% in a week, pushing its market capitalization to $10.6 billion and cementing its position as the 12th-largest crypto asset. The token leads the broader rally in privacy-focused cryptocurrencies, driven by growing demand for anonymity.
ZEC market capitalization surpasses $10 billion for the first time, placing it 13th among the largest cryptocurrencies. The price of Zcash (ZEC) has reached a new high since January 2018. For the first time in nearly eight years, the coin’s value climbed above $600. Over the past 24 hours, it rose 22%, and since the start of autumn — 1,400% (from $41 to $629).
Over the past 24 hours, the cryptocurrency Zcash (ZEC) has surged by 20.6%. As of writing, ZEC is trading around $520, marking its highest level since 2018.
Bitcoin rose on Thursday, partially recovering from recent losses as traders took advantage of lower prices. However, economic uncertainty and fading hopes of interest rate cuts limited the rebound. The world’s largest cryptocurrency entered a bear market this week, falling more than 20% from its early-October record highs.
The price of ZKsync (ZK) continues to climb, rallying about 170% from a recent low of $0.028 to a peak of $0.075.
Bitcoin barely moved on Friday and is set to break the “Uptober” trend, as heightened risk aversion amid U.S.-China trade tensions and economic uncertainty hit demand for cryptocurrencies.
Analysts explained that since Bitcoin’s price momentum remains negative following the October 11 crash, the key factor now is to reignite it:
BNB Foundation has completed its 33rd quarterly BNB token burn, permanently removing 1.44 million BNB worth nearly $1.66 billion from circulation. This reduces the total supply to 137.73 million BNB, marking another milestone toward the project’s ultimate goal — reducing total supply to 100 million BNB through deflationary mechanisms.
Bitcoin climbed on Monday amid a broad rally in risk assets after the United States and China announced a framework trade deal aimed at preventing further escalation of their ongoing trade conflict.
A drop in the yield of 10-year U.S. Treasury bonds below 4% and growing interest from large investors in high-risk assets have supported Bitcoin’s rise, according to analysts at 10x Research.
BNB (BNB), the native token of Binance, surged after the pardon of its founder, Changpeng Zhao. Following the news, BNB jumped 6.5% intraday, and by the end of the day was up 2%, outperforming major cryptocurrencies. At the time of writing, the token is trading around $1,100.
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