Cryptocurrency Market Update: 05/05/2021
On Wednesday, there are bullish sentiments in the cryptomarkets as we are seeing double digit increases in multiple cryptocurrencies. The top gainers per Coinbase.com include ETC with a 48.30% increase in valuation. The coin has increased in value from the previous $30s valuations. It may be due to the recent price increase of Ethereum that ETC may also have a price increase. Multiple altcoins are increasing in value with Bitcoin increasing as well.
Bitcoin Cash is also increasing with a similar high percentage to be a top gainer of the day with almost a 49% increase in value. Bitcoin has changed over the week with a current value of $57,000 range. It is interesting to see what the altcoins to the Bitcoin and Ethereum will do since they are correlated in value to the first coins.
Bitcoin has increased a modest 4% and Ethereum 6% for a daily gain. We will see if cryptocurrencies will continue the week on a positive note with news of adoption from businesses and positive outlook from countries. While Bitcoin continues to have the top spot, Ethereum has showed an increase in value that had not been seen in a few years. With addition of platforms and innovations of protocol, we will see how Ethereum may be continue to gain.