September 28, 2022

After some volatility in the past 24 hours, bitcoin has re-formed, at least for now, around $23,000.

Most altcoins are also pretty stagnant on a daily basis, but Binance Coin soared to its own multi-month high above $300.

BNB Over $300

Most altcoins have experienced some heightened price swings in recent days, but have calmed down now.

Ethereum, for example, traded above $1,700 last week, but dumped to $1,500 days later. It managed to regain some ground and now sits above $1,600.

On a daily scale, Ripple, Cardano, Dogecoin, Shiba Inu, Avalanche and MATIC are also slightly in the red.

Polkadot and Solana, on the other hand, have made insignificant gains. Binance Coin is the most significant gainer from the biggest caps with a 5% increase. As a result, BNB recovers $300 and hit a two-month high above that level earlier today.

NEAR Protocol has also added an impressive percentage in a day (8%) and is trading well above $4.5.

Cryptocurrency Market Overview.  Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Industry news

Slope Wallet – a third-party wallet provider in Solana – was apparently the culprit behind the attack against the popular blockchain network.

PeckShield suggested that crypto exchange ZB could be the latest to fall victim to a hack.

New reports have claimed that there are over 44 million smart contracts that have been deployed on the Ethereum network since its inception.

Bitcoin Calm at $23,000

The primary cryptocurrency ended last month on a high, hitting a 6-week high and ending a negative streak of three consecutive months that ended in the red.

Since then, however, the asset has underperformed, falling from $24,600 to $23,000 almost immediately. Spent the weekend around the latter as well.

It soared to $23,600 yesterday, but immediately fell below $23,000. As of now, BTC is still struggling below this line after a small daily drop.

As such, its dominance over alts drops to 41%, while its market cap is just under $450 billion.

BTCUSD.  Source: TradingView
BTCUSD. Source: TradingView

Bitcoin News

MasterCard’s CFO said that bitcoin and crypto are an asset class, not a means of payment.

SkyBridge Capital’s Scaramucci suggested that BTC had already broken down during this bear cycle and will not fall below $17,500 again.

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Cryptocurrency Charts from TradingView.

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