Bitcoin shows signs of recovery on the morning of November 23 and is trading at $16,486 with an increase of almost 5% over one day. Similarly, Ethereum, the second cryptocurrency in terms of importance, shows a increase of more than 6% to reach $1,160.
The major cryptocurrency market is in a roughly similar trend with a 3% increase compared to the previous day, reaching $819.18 billion in capitalization. Nevertheless, the market’s total trading volume is down 5% from yesterday and peaks at $62.21 billion in daily transactions.
In this transaction volume, we can distinguish 7% which concerns DeFi, i.e. around 4.6 billion dollars, and 93% for the stablecoin market with a specific volume of 59 billion dollars.
The most notable gains and losses in the market
In this climate of market progression, we can highlight 3 crypto-currencies which show quite spectacular increases:
- Litecoin (LTC): up 29% to $80.50.
- Curve DAO Token (CRV): With a jump over 28% to $0.6465.
- Dash (DASH): with nearly 20% up $42.95.
However, there are cryptos that are showing a decline in their price. Among these are:
- BinaryX (BNX): Down more than 10% at $144.09.
- Chain (XCN): With more than 1% down at $0.0420.
- TRON (TRX): which fell 0.5% to $0.051.
El Salvador to Issue Bitcoin Volcano Bonds
Maria Luisa Hayem Brevé, Minister of Economy of El Salvador, presented a measure aimed at legalize the issuance of digital assetspaving the way for the sale of the country’s first Volcano bondswhich are backed by bitcoin.
El Salvador’s groundbreaking bitcoin program was first launched exactly one year ago today, aimed at attracting investors and financial resources to El Salvador.
Plans to issue a billion-dollar bond on Liquid, a bitcoin sidechain, have been announced, with half of the proceeds going to the outright purchase of bitcoin and the other half to expansion of the region’s energy and bitcoin mining infrastructure. Its bonds are called Volcano Bonds in reference to the Conchagua volcano, at the foot of which is built the Bitcoin City, the BTC mining eco-city.
A sidechain is a separate blockchain that works in tandem with the first, allowing tokens from the first blockchain to be used securely on the second blockchain despite the fact that the sidechain operates under different rules, has different performance requirements and uses different security mechanisms.
Liquid is a Bitcoin-enabled sidechain that enables two-way Bitcoin transactions on the Liquid and Bitcoin networks. It will host the Volcano bonds issued by the State of El Salvador.
The price of bitcoin
The current price of Bitcoin is at $16,486, showing an increase of almost 5% in the last 24 hours. The market cap of this crypto stands at $310 billion and its daily trading volume is $33 billion.
On the chart analysis front, Bitcoin has broken above a resistance line at $16,350, which may lead BTC to a low. new level at $17,000.
The upward trend indices are confirmed by the candlestick chart and the exit of a symmetrical upward triangle.
Additionally, the RSI and MACD indices are both in a buy zone, confirming that an uptrend may continue. The upward crossing of $17,000 could then propel Bitcoin to $17,600.
On the other hand, the support for the price remains at $16,000, and a downward crossing of this level could send BTC down to $15,670.
The price of Ethereum
The current price of Ethereum is $1,160, and its 24-hour trading volume reaches $12 billion. In the past 24 hours, Ethereum has gained over 6% and its market cap is now $142 billion with 122,373,866 ETH tokens in circulation.
Ethereum price is trying to recover the $1,200 level on the 4-hour chart. It broke through the support located at $1,080 on the upside and Now climbing towards the $1,185 level.
The bullish candlesticks forming on the ETH chart show an uptrend is possibly sustainable. However, Ethereum needs to break above $1,190 before it can claim any more purchases which could then take it up to $1,235 or $1,290.
In the event of a decline, Ethereum has support at $1,120: its crossing could then lead ETH to $1,080 or $1,030.
Presale of cryptocurrency with huge potential gains
Dash 2 Trade (D2T)
Dash 2 Trade, founded by Learn 2 Trade, is a platform that provides investors with market-driven information, trading signals and price prediction services.
This Ethereum-based platform aims to provide traders of all levels with real-time analysis and data that will allow them to refine their investment choices.
The pre-sale of the D2T token has already raised more than $6.8 million and offers great prospects once it is listed on LBank as announced. Indeed, a D2T token is currently worth 0.0513 USDT, but this is expected to rise to $0.0533 in the next stage of sales and to $0.0662 in the final stage.
Discover the Dash 2 Trade pre-sale