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December 5, 2022
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Cardano (ADA) increases 7% after news from Grayscale

Bitcoin returned to $34,000, while Cardano (ADA) jumped 7% in a day after positive news from Grayscale.

Although most of the previous weekends started with adverse price movements for bitcoin, this time, the BTC has valued over $1,000 and returned to $34,000. Most altcoins have also regained some ground since yesterday, with Cardano (ADA) up 7% on news from Grayscale.

Bitcoin at $34K

CryptoPotato has previously reported that the BTC tends to head south on early weekends. Consequently, this time there were also concerns about similar developments. Until now, however, this has not been the case now.

The BTC had already lost several thousand dollars since Tuesday’s $36,500 top and was struggling with $33,000. It even dipped below that level briefly. However, the cryptocurrency ricocheted and began to regain some ground.

As a result, bitcoin rose about $1,000, jumped above $34,000 to a multi-day high of just over $34,600, where it is currently situated.

BTC’s dominance over altcoins is still above 45%, while its market capitalization approaches $650 billion.

Cardano values ​​7%

Altcoins have also struggled in recent days. However, most of them are right in the green since yesterday. Ethereum dropped below $2,100, but a 6% increase took the second-largest cryptocurrency to just $2,200.

Binance Coin (4%), Dogecoin (2.5%), Ripple (4%), Polkadot (4%), Uniswap (5.5%) and Bitcoin Cash (4%) also made considerable gains.

Cardano is among the top performers among the top ten currencies, up 7%. This comes after the world’s largest cryptocurrency asset manager, Grayscale, said he purchased ADA tokens.

Cardano (ADA) increases 7% after news from Grayscale 23

Of the low- and mid-cap altcoins, Quant rose the most, after a 22% jump to $80. Compound (17%), Nexo (14%), XDC (14%), The Graph (13% ), Cosmos (12%), and NEAR Protocol (10%).

Ultimately, the cumulative market capitalization of all crypto assets gained $80 billion in one day to well over $1.4 trillion.

Source: CryptoPotato

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