What Changed in Crypto Markets While You Were Sleeping — April 6
2 min readBeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
BTC update
BTC (BTC) has been increasing since bouncing from support on March 25. While the increase has been significant, BTC has stalled near the $60,000 level. It’s been struggling to move above it since March 30.
However, technical indicators are bullish. The MACD has given a bullish reversal signal, the RSI has crossed above 50, and the Stochastic oscillator has made a bullish cross.
Therefore, BTC is expected to eventually break out from this minor resistance level.
Altcoin movers
The crypto top-10 by market cap saw some slight changes this morning as the market sees some relief.
XRP has jumped over Cardano (ADA) to take the #6 spot. XRP is up nearly 21% in the past 24 hours, making for a 50% gain in the past week. It’s trading for $0.87 after briefly reaching $0.94. This is the highest XRP has traded for since April 2018. It’s just under $2 billion away from overtaking Polkadot’s (DOT) #5 position.
Stacks (STX) has been the biggest daily gainer in the top-100 so far. It’s currently trading for $2.30 in a 100% gain in the past 24 hours.
After nearly breaking into the top-10 yesterday, BitTorrent (BTT) has corrected in a fall back to #20. It’s trading for $0.0104 after losing 18% in the past 24 hours. However, over the past seven days, BTT is up a massive 176%.
In other crypto news
- According to an April 6 tweet, the SushiSwap community decided to lock two-thirds of liquidity provider rewards for six months during Q3 2020. That lockup period has now lapsed leaving those rewards to be distributed.
- The Liquity decentralized borrowing protocol allows users to draw 0% interest loans against ETH, which is deposited as collateral. There is a low collateral ratio and loans are paid in its new dollar-pegged LQTY stablecoin.
- An NFT aficionado purchased a virtual real estate asset for $512,712. The user completed the mega purchase on the authentic digital art marketplace, SuperRare.
The post What Changed in Crypto Markets While You Were Sleeping — April 6 appeared first on BeInCrypto.
