Bitcoin, the world’s first and largest cryptocurrency, is back above $50,000 on Thursday. Bitcoin reached that level on Aug 23, before backtracking.
BTC rose 5.5%, according to CoinGecko, hit a local high of $50,171. With a market capitalization of $941.6 billion, Bitcoin currently dominates 40.6% of the market, at the time of this writing Bitcoin was trading at $50,038.
While this can be considered a very positive start to a new month, historically, September has been a tough month for Bitcoin bulls.
Data from bybt.com show that investors have suffered losses in September for the past four consecutive years, with maximum monthly returns of just over 6%.
Ethereum, the second largest cryptocurrency, rose 5.8% over the day, having retested levels above $3,800. So far, ETH is changing hands for $3,766.
Cardano hits new record high
Meanwhile, Cardano (ADA), which climbed to number three last month, hit a new record of $3.09 earlier today as the network gears up for the hard fork Alonzo – an eagerly-anticipated update that will bring smart contract functionality.
Smart contracts are bits of code that automatically execute commands and instructions under predetermined circumstances.
As revealed by IOHK, the company that develops Cardano, smart contracts went live on the network’s testnet yesterday, with the launch of the mainnet scheduled to take place on September 12th.
So there we have it. Since c. 20:20 UTC today, the #Cardano Testnet now officially supports #Plutus #smart contracts. Final testing & integrations ahead. SPOs will now upgrade their mainnet nodes. Then next stop… mainnet upgrade. Still on track for 12 September. Onward! $ADA pic.twitter.com/Wl5CUpRB4L
— Input Output (@InputOutputHK) September 1, 2021
So we only have this. Since c. 20:20 UTC today, #Cardano Testnet now officially supports #Plutus#smartcontracts . Final testing and integrations ahead. SPOs will now update their mainnet nodes. So next stop… mainnet update. Still on the way to September 12th. Forward!$ADA
Other top earners of the day include VeChain, which is up 9.2%, ChainLink (+7.7%), Dogecoin (+7.1%) and Polkadot (5.3%).