When it comes to price swings, crypto is usually the one making the headlines. But after the Archegos sell-off that rocked global asset markets on Friday, crypto seemed tame in comparison.
Market cap for crypto saw strong gains overnight, rising 3.7% to $1.87 trillion, according to Nomics. This puts crypto close to its all-time high of $1.9 trillion set earlier this month. That surge has been felt across the market.
Global Market Cap reaching new highs. IMAGE: CoinMarketCap
Bitcoin is up 3.4% to around $58,000 after a choppy weekend. But with its market dominance now trending below 60% – other assets have been helping the markets along.
Chief among them is Ethereum, which enjoyed a 5.8% bump to take its price back into the $1,800s thanks to news that Visa had recently opened the door for transactions to be settled on its network using USD Coin – which is built on Ethereum.
Visa Completes First Cryptocurrency Transaction on Ethereum
Ripple also saw gains thanks to a spate of po
Źródło: https://decrypt.co/63321/banks-take-a-beating-as-bitcoin-surges-on-archegos-sell-off
