Bitcoin Completes $700 Gains In 24 Hours: Wednesday Crypto Market Watch

The past several days have been somewhat turbulent in the cryptocurrency space. Bitcoin, for instance, plunged to $9,400 on Monday, traded around $9,600 yesterday, and gained about $700 in the past 24 hours alone, before settling at $10,150 where it currently stands.

BTCUSD 1h. Source: TradingView
BTCUSD 1h. Source: TradingView

On its way down, the significant support level of $9,400 stopped BTC. If Bitcoin is to fall again, $9,770 should be the first considerable obstacle now.

Alternatively, the $10,400-$10,500 resistance level continues to be a major thorn for bulls. The largest cryptocurrency attempted to break it on several occasions in the last few weeks but to no avail.

Most alternative coins are in the green against the dollar as well. Among the top 10 by market capitalization, Tezos is the most impressive gainer. XTZ’s positive movement is with over 11% to $3.65.

Ethereum and Litecoin are next; the former rises with 5% to $279, and the latter is up with 3.27% to $76.5. EOS and Binance Coin are increasing its value with approximately 2.3% to $4,56 and $24, respectively.

Contrary, BitcoinSV stands as the only currency in red among the top 15 by market capitalization. BSV drops with over 4% against the dollar to $302.

Cryptocurrency Overview. Source: coin360.com
Cryptocurrency Overview. Source: coin360.com

Total Market Capitalization: $294B | Bitcoin Market Capitalization: $184B | Bitcoin Dominance: 62.6%

Major Crypto Headlines

US Presidential Candidate Bloomberg Suggests Cryptocurrency Regulation To Help Prevent Another Financial Crisis. The 2020 presidential candidate, Michael Bloomberg, and his team recently published a financial reform plan that includes cryptocurrencies. It says that digital assets can help prevent another financial crisis, but they require a “clear regulatory framework.”

Almost $1 Million Of ETH Compromised Following Two Attacks On DeFi Protocol bZx. The popular DeFi protocol went through two consecutive attacks on February 15th and 18th. By manipulating the network, the perpetrator ultimately managed to extract a total net profit of over $900,000 worth of Ethereum.

Boerse Stuttgart Subsidiary Launching Institutional Crypto Custody Services. Blocknox, a subsidiary of second-largest German stock exchange Boerse Stuttgart, is set to expand its cryptocurrency services. Along with providing custody for digital assets on an “escrow basis,” it will now serve institutional investors, as well.

Significant Daily Gainers and Losers

ABBC Coin (28.15%)

ABBC is the most significant gainer among the top 100 coins by market cap. It rises with over 28% against the dollar to $0.127. It also sees gains of almost 25% against Bitcoin and trades at 1268 SAT.

A few hours ago, the popular cryptocurrency exchange Bittrex added ABBC. So far, it provides one trading pair – ABBC/BTC.

DxChain Token (15.70%)

DX is next with increases of 15.70% and 12.30% against USD and Bitcoin, respectively. Naturally, its market capitalization also notes a surge and is currently at $78.5 million.

In a recent blog post, DX was named as one of the top 10 best performing digital assets for 2019. It’s impressive run continues in 2020. DX Started the year at $0.000888, and it trades now at $0.0016, meaning an increase of over 75%.

MonaCoin (-10.14%)

MONA pumped to $2.71 yesterday, and it seems to be retracing heavily today to $2.31. MonaCoin remains in the top 50 coins in terms of market capitalization, even though its own dropped below $152 million.

The situation against the largest cryptocurrency is similar. A 13% decrease and MONA/BTC trades at 22941 SAT.

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Cryptocurrency charts by TradingView.