Crypto Flipsider News — Bitcoin Hits $39K, Altcoins Rally, Binance Fund Reaches $1 Billion, Bitfinex Stolen Funds Moved, India’s 30% Crypto Tax + CBDC Launch, Thailand Scraps Crypto Tax, Phantom Raises $109 Million, Coinbase Lists Solana-Based Tokens
Read in the Digest:
Crypto Rally: Bitcoin Hits $39k, Ethereum and Altcoins Join Recovery.
Binance insurance fund reaches $1 billion, 20,000 BTC from 2016’s Bitfinex hack moved to anonymous wallet.
India introduces crypto tax and preps 2023 CBDC launch, Thailand scraps proposed 15% crypto tax.
Solana’s Phantom raises $109 million, Coinbase lists Solana-based tokens.
Crypto Rally: Bitcoin Hits $39k, Ethereum and Altcoins Join Recovery
After a rough January, cryptocurrencies have found a second wind, pushing assets into the green. The leading cryptocurrency, Bitcoin, gained by more than 4% in the last 24 hours to hit $39k for the first time since January 21st.
The 24 hour price chart for Bitcoin (BTC). Source: Tradingview
As Bitcoin hovered at $38,280 as of this writing, other Altcoins have followed suit, posting even larger gains. Ethereum, Bitcoin’s biggest competitor, gained more than 8.5% in value to hit an interday high of $2,800. Ether is now valued at $2,738.6 at press time.
The 24 hour price chart for Ethereum (ETH). Source: Tradingview
Solana (SOL), Terra (LUNA), Cosmos (ATOM), and Polkadot (DOT), top the performance chart recording double digit gains. At the time of writing, Solana’s 17% gains have pushed its price up to $106, LUNA is trading at $51.6 following a 12% gain, ATOM’s 11% surge saw it attain a value of $29.1, and DOT is trading at $19.5 on the back of its 10% gains over the last 24 hours.
- The market’s recent rened fortunes could not stop Bitcoin from closing what has been its worst start to a year since 2018 after BTC lost more than 20% of its value in January 2022.
Why You Should Care
Having held on throughout such overly bearish sentiments, analyst Peter Brandt has predicted that Bitcoin and other cryptos