Bitcoin Hits $71K As Uniswap, Starknet, BNB Lead Altcoin Gains
By Kapil Rajyaguru
Several altcoins led the price action Wednesday as the broader crypto market climbed higher with bitcoin (BTC) hitting a two-week high above $71,000 before paring gains, up 3.2%.
The second-largest crypto asset, ether (ETH) changed hands at around $3,830, up 1.75% and underperforming BTC’s 3.2% advance.
Decentralized exchange Uniswap’s governance token (UNI) surged over 20% during the day following a cryptic social media post by protocol development organization Uniswaps Labs teasing an announcement.
Ethereum layer-2 network Starknet’s token (STRK) also rallied over 10% after StarkWare, the development firm behind the chain, laid out its vision to use Starknet to scale the Bitcoin network. The token price could come under pressure as some $85 million worth of STRK will be released from vesting next week, increasing its supply.
The native token of the BNB Smart Chain (BNB), originally started by crypto exchange Binance, advanced 7% approaching its all-time record price and surpassing $100 billion in market capitalization. The token is benefiting from increased Binance launchpool and launchpad activities, where users can lock up BNB to participate in airdrops and new token launches.
Several U.S.-listed bitcoin miners booked substantial gains, led by Core Scientific (CORZ) 40% surge following a deal with cloud computing firm CoreWeave to host artificial intelligence (AI) services.
The global crypto market cap is $2.63T, a 2.75% increase over the last day. The total crypto market volume over the last 24 hours is $83.27B, which makes a 2.08% decrease. The total volume in DeFi is currently $6.41B, 7.70% of the total crypto market 24-hour volume. The volume of all stable coins is now $78.02B, which is 93.69% of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 53.17%, an increase of 0.03% over the day.
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