While Bitcoin’s bullish surge has dominated the headlines in the past two weeks, today was a bleak reminder for everyone that crypto is not just about a single digital currency.
For a brief moment, Bitcoin (BTC) pulled back 2.8 percent as trade volume slumped for the first time since the historic run. However, the global market cap continued to rise after news emerged that a Ukrainian banker has invested heavily in Bitcoin.
Overall, the total value of crypto futures has surged past $1.3 trillion thanks to Ethereum’s commendable rise despite the brief BTC blip during the day. Bitcoin has started to slowly clock subsequent peaks between $45,000-$47,044.
In numbers, Ethereum ticked up 3.25 percent, above the $1,800 mark for the first time. Known as the world’s second-largest cryptocurrency, it has now managed to sit above $1,500 for almost a week, which is another record. Other Ethereum-based currencies such as DeFi, Uniswap, AAVE, and Synthetix also saw big-digit gains.
It was a similar story across other markets as well, including Cardano (15 percent), Hex (21 percent), and Binance coin (43 percent).
The only loser of the bunch was Dogecoin that pulled back 5 percent of its net trade volume in the last 24 hours. Perhaps a victim of Musk’s little “market manipulation” game?
Oleg Gorokhovsky, the co-founder of Monobank, Ukraine’s top Mobile bank, revealed that he had made substantial investments in BTC. Discussing his views regarding the bulging crypto bubble on Facebook, Gorokhovsky said that news of Tesla investing $1.5 billion in Bitcoin convinced him that cryptocurrencies are here to stay.
“Bitcoin is here to stay,” wrote Gorokhovsky. “I share the most optimistic projections regarding its price and believe that it will top $100,000 either this or the next year.”
Later today, after 10 a.m. EST (UTC -5), Bitcoin jumped back onto the $46,000 thread and has resumed its bullish ascent towards $48,000 ever since.
Besides Monobank making waves in the crypto world through its co-founder, Ukraine is considered one of the most crypto friendliest countries in Eastern Europe, with its government recently signing an agreement with the Stellar Foundation, which will help them co-develop the country’s virtual assets strategy.
Last year, Ukraine topped The Global Crypto Adoption Index, which was based on the amount of on-chain Bitcoin transactions in the region and peer-to-peer (P2P) trading volume.