Bitcoin Briefly Reclaims $32K for First Time in Three Weeks

In brief

  • It’s been three weeks since Bitcoin was last above $32,000.
  • The broader crypto market remains somewhat shaken after the TerraUSD collapse.

Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization, saw a 5% jump in price in the last 24 hours as the crypto market struggles to recover from the spectacular crash following the collapse of the TerraUSD stablecoin, with Bitcoin briefly reclaiming $32,000 before falling again.

Currently, Bitcoin is trading at $31,790 per coin, up by $1,090 in the last 24 hours. Today marks a three-week high for Bitcoin; the last time Bitcoin was over $32,000 was March 11, according to data from CoinMarketCap.

The price of Ethereum has seen its price fall below $2,000 several times since May 21. Currently, Ethereum is trading at $1,942, up by $20.50 according to CoinMarketCap.

The price of Ethereum continues to hover just over $1,940 as it readies for “The Merge,” a long-planned blockchain upgrade set for August that will transition Ethereum from a power-hungry proof-of-work system to a more environmentally friendly proof-of-stake mechanism.

Via: Decrypt
Facebooktwittergoogle_plusredditmailby feather

Leave a Reply