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Crypto market flashes green as Bitcoin reclaims $30,000

Ana
Nicenko
1 month ago
3 mins read

After a period of a bearish trend engulfing the entire cryptocurrency market, things are finally starting to move in a more positive direction, with some crypto asset gainers standing out more than others.

Indeed, the flagship digital asset Bitcoin (BTC) now trades at $30,437, having gained 1.56% over the previous 24 hours and 2.45% compared to seven days before, according to the data acquired from CoinMarketCap on May 23.

Its second contender in terms of market capitalization – Ethereum (ETH) – has also recorded gains as well, rising 2.39% on the day and 2.39% over the week.

The total crypto market cap is moving in the positive direction as well, currently standing at $1.303 trillion – a 1.48% increase in 24 hours and a 2.92% rise over the previous week from $1.266 trillion.

Total 7-day crypto market cap. Source: CoinMarkerCap 

Top gainers

Meanwhile, the top three gainers among the top 100 coins by market capitalization have been Neo (NEO), eCash (XEC), and Fantom (FTM). 

Top 10 crypto gainers over 24 hours. Source: CoinMarketCap

The leader among them – Neo – gained a staggering 18.80% over 24 hours alone, while its seven-day advance reached a whopping 21.56%. Neo’s price at press time stood at $12.44. Notably, Neo is an open-source network that has recently launched Neo 3 – an update it dubs “the most feature-complete blockchain platform”.

Its runner-up XEC achieved slightly lower advances yet nevertheless nothing short of impressive – growing 15.12% on the day and 19.94% across the week, leading up to the current price of $0.00005327.

Finally, Fantom crept up with a 14.74% increase on the day – but a whopping 43.79% boost on the week, trading at $0.5016 at the time of publication.

Celeb silence and talks of crypto winter

Meanwhile, the bearish period that had previously caught the crypto market has left A-list actors and sports stars silent on promoting crypto after widespread criticism that they failed to warn their followers about the hazards and unpredictability of the market.

At the same time, Delta Blockchain Fund founder Kavita Gupta has envisioned a ‘winter season’ for the crypto market, which, according to him, might stick around for longer than a year, as Finbold earlier reported. 

As things start to look more optimistic on the crypto market, it is to be expected that the celeb silence might be ending. However, the accuracy of the longer-term predictions such as the one by Gupta remains to be witnessed.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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Ana Nicenko
Author

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.

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