After the recent price pumps and new multi-month highs, bitcoin has lost some traction but still remains north of $30,000.
Most altcoins are also slightly in the red today, with ETH sliding beneath $2,100. OKB, on the other hand, has exploded by double digits and neared its previous ATH.
The working week began with little-to-no movements, similar to the previous weekend, and BTC was stuck around $28,000. However, that all changed as Monday came to an end. The cryptocurrency started gaining value rapidly, spiking above $29,000 before climbing to $30,000 for the first time since June 2022.
The price surge resulted in tapping $30,500 to chart a ten-month high. The CPI data announced on Wednesday resulted in more volatility, with BTC pumping and dumping by $500 in hours.
The last price surge came on Friday when bitcoin skyrocketed to just over $31,000 to chart yet another ten-month high. However, it failed there and retraced by a grand in the following hours.
Since then, BTC has recovered some ground and now stands around $30,500. Its market capitalization has remained close to $590 billion, while its dominance over the altcoins is at 46.3%.
OKB Soars 16%
Ethereum was among the best performers in the past few days, especially after the completion of the Shapella update. ETH went from $1,900 to over $2,100 to mark an 11-month high. In the past 24 hours, though, ETH has lost some ground and now stands inches below $2,100.
Binance Coin, Ripple, Dogecoin, Polygon, Solana, Polkadot, Litecoin, and Shiba Inu are also slightly in the red.
In contrast, ARB has jumped by 8% in the past 24 hours, which only solidified yesterday’s massive pump. Nevertheless, OKB is the best performer among the top 50 altcoins. The asset has exploded by 16% and smashed through $50 for the first time in about two months.
The total crypto market cap has slid by $15 billion in a day and is down to $1.270 trillion.
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Headline: OKB Explodes 16%, Bitcoin Maintains $30K
Over the weekend, the cryptocurrency market saw a surge in activity as OKB, the native token of the OK Blockchain Foundation, exploded 16% to a two-month high and Bitcoin continued to maintain its position at the $30K mark.
OKB, the token of the OK Blockchain Foundation, achieved a new two-month high on Saturday after a 16% surge. The token had been trading in the $4.40 to $4.60 range for several weeks before its sudden surge. The exact cause of the surge remains unknown, however, analysts suggest that it could be due to a renewed interest in the OK Blockchain Foundation and its services.
Meanwhile, Bitcoin continued to hover around the $30K mark over the weekend. Despite its weak performance in the past few weeks, the leading cryptocurrency remains relatively stable and is expected to make further gains in the weeks to come.
In other news, Ethereum, the second largest cryptocurrency by market cap, saw a slight dip over the weekend as traders locked in their profits. The token was trading at around $1,450 on Saturday but dropped to $1,420 by Sunday.
Overall, the overall cryptocurrency market fared relatively well over the weekend and may continue to do so in the coming days. That said, analysts continue to caution investors to remain cautious and exercise proper risk management before committing to any investments.
