Bitcoin & Bitcoin Cash Among Top Crypto Gainers as Crypto Prices Pump: What About Green Bitcoin?
The crypto market has caught a fresh wave of bullish momentum, with Bitcoin (BTC) and Bitcoin Cash (BCH) leading the charge.
As coins across the board flash green, the double-digit pumps from BTC and its fork reflect the renewed appetite from traders.
Crypto Market Roars Back as BTC & BCH Pump
Bitcoin has roared back today, with the largest crypto by market cap rising over 10% in the past 24 hours alone.
Currently trading at $67,750 on exchanges, BTC has re-established its uptrend after a brief period of bearish price action.
Not to be outdone, Bitcoin’s foremost derivative, Bitcoin Cash, is outperforming the original, with BCH surging an impressive 22% over the same time period.
BCH now sits around the $426 mark at the time of writing.
The double-digit gains from the two have made Bitcoin and Bitcoin Cash some of today’s best crypto performers.
According to CoinMarketCap, both BTC and BCH are in the “Top Gainers” list among the top 100 assets by market cap.
With most cryptos back in the green, Bitcoin’s rally provides much-needed reassurance that the bull market remains intact.
And Bitcoin Cash’s ability to outpace its namesake suggests there may be renewed interest in legacy crypto platforms with faster transaction times.
Fed Comments & Rising Open Interest Fuel Crypto Rebound
Bitcoin and Bitcoin Cash’s rallies are just two pieces of the broader rebound currently playing out across the crypto market.
Data shows the total market cap for digital assets has jumped by 6% over the past 24 hours to $2.5 trillion, recovering a large chunk of the losses incurred earlier in the week.
The revival is driven by a combination of factors.
First, comments from the Federal Reserve’s latest FOMC meeting raised expectations that interest rate cuts could come later this year if inflation continues cooling.
This dovish tone from the central bank has reignited risk appetite among traders and investors.
Additionally, the crypto market has maintained an undercurrent of optimism around the upcoming Bitcoin halving event in April.
Despite Bitcoin’s recent correction, many analysts still anticipate a new bull cycle caused by reduced supply hitting the market post-halving.
Open interest across crypto futures markets is also climbing, signaling rising activity and positive sentiment.
CoinGlass data shows over $164 million in short liquidations have already occurred as crypto prices spiked higher.
With speculative appetite recovering, the foundations may be in place for another leg up.
Presale Sensation Green Bitcoin Capitalizes on Crypto Hype & Hits $7.2M
While established cryptos like Bitcoin and Bitcoin Cash are surging higher, some of the most exciting price action is happening in the presale market.
Green Bitcoin (GBTC), an eco-friendly blockchain project, has capitalized on the recent wave of optimism.
For those unaware, Green Bitcoin aims to be a more sustainable and energy-efficient alternative to Bitcoin’s Proof-of-Work mining model.
Using a Proof-of-Stake consensus mechanism, Green Bitcoin boasts energy usage of just 34 Wh per transaction, compared to Bitcoin’s 1,173,000 Wh.
But Green Bitcoin isn’t just positioning itself as a “green” investment opportunity – it’s also introducing unique ways to earn crypto rewards.
Through its Gamified Green Staking model, GBTC holders can lock up their tokens and earn high annual yields while receiving bonuses for accurately forecasting Bitcoin’s price movements.
Green Bitcoin essentially “gamifies” the staking process – creating a first-of-its-kind experience.
This novel approach seems to be resonating with retail investors.
The project’s presale has already raised over $7.2 million, and more than 20,000 people have followed Green Bitcoin’s Twitter page.
Green Bitcoin’s smart contracts have even been audited by blockchain specialists Coinsult.
With crypto investors becoming more interested in their environmental impact, Green Bitcoin could be poised to disrupt the digital assets space.
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Filed under: Bitcoin - @ March 21, 2024 7:07 pm