Crypto On June 20: Majority Top Tokens Trade Higher After A Week Of Uncertainty

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KEY POINTS

  • Bitcoin rose 9.55% to $20,073
  • Ethereum, too, gained 13.08% to $1,080
  • Most of the top 10 cryptos traded in the green

Most of the top cryptocurrencies, including Bitcoin and Ethereum, traded higher Monday after a week of uncertainty. 

The global market cap was up 7.62% at $881.25, at 2.49 a.m. ET, CoinMarketCap data showed. Bitcoin rose 9.55% to $20,073. Ethereum, too, gained 13.08% to $1,080. 

According to WazirX’s daily analysis, Ethereum against Bitcoin gained 2% in the past week as Bitcoin’s dominance index dropped below to almost 44%. 

“The next key support for ETH-BTC is expected at 0.046 level and the next resistance is expected at 0.076,” the Indian exchange told International Business Times

Most of the top 10 cryptos traded in the green. Meme cryptos Shiba Inu and Dogecoin surged too. 

Despite the market turmoil, a recent Bank of America survey of more than 1,000 digital asset users indicated that investors are still optimistic about the future of crypto, with 91% of those surveyed saying they will continue buying crypto in the next six months.

Analysts have pointed out that there are catalysts in the near future that will help stabilize crypto price – this includes the much anticipated Ethereum merge expected for the later half of this year. 

In other news, the official website of Tether, the stablecoin cryptocurrency hosted on Bitcoin, Ethereum and other blockchains, is in “I’m under attack” mode following a DDoS ambush it faced over the weekend.

Tether CTO Paolo Ardoino confirmed that the official website suffered the DDoS ambush over the weekend, adding that the malicious actors sent a ransom request to stop the attack. 

The cryptocurrency market is extremely volatile and experts recommend not basing any decisions on the sudden shift in prices. 

A representations of cryptocurrencies in this illustration taken, January 24, 2022. Photo: Reuters / Dado Ruvic