Bitcoin Reclaims $10,500, YFI Reached a Record Price of 4.2 BTC (Sunday’s Market Watch)

HeadlinesNewsBitcoin Reclaims $10,500, YFI Reached a Record Price of 4.2 BTC (Sunday’s Market Watch)

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Bitcoin Reclaims $10,500, YFI Reached a Record Price of 4.2 BTC (Sunday’s Market Watch)

Crypto News – CryptoPotato4 months ago
Published on September 13, 2020 08:21 GMT+0edited on September 13, 2020 08:35 GMT+0

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Bitcoin has taken another swing at the previous 2020 high of $10,500 and currently trades above it. Ethereum nears $400, while the top 10 tokens see a few rotations, including Polkadot and Binance Coin.

DeFi tokens are booming again with Yearn.Finance marking a new all-time high of about $44,000.

Bitcoin Progresses Steadily

The primary cryptocurrency traded in a tight range between $10,280 and $10,360 yesterday. However, the bulls decided to act and increased Bitcoin’s price firstly to $10,480 and then to an intraday high of about $10,580.

With the latest movement, BTC overcame the resistance and previous 2020 high of $10,500. Despite retracing slightly, the asset still continues to hover just above it.

If Bitcoin decisively overcomes that level, it could head towards the next resistance lines at $10,780, $10,900, and $11,000. In case of rejection and a price drop, BTC could find support at the psychological $10,000 level.

BTCUSD. Source: TradingViewBTCUSD. Source: TradingView

ETH Nears $400, Top 10 Rotations, and YFI To The Moon

The altcoin market is a never-ending roller-coaster. The top 10 coins by market cap see lots of action. Ethereum jumps by 4.5% to nearly $390, and Ripple is up by 4% to above $0.25.

Binance and Polkadot also performed very impressively. DOT skyrockets by 19% and has taken the lead in the battle for the 5th spot with Chainlink (4.5%) and Bitcoin Cash (4%). In fact, BCH has even dropped to the 8th position as BNB continues its recent bull run with another 16% increase and rises to the 7th spot.

It appears that the interest in Binance’s native cryptocurrency has surged following the release of Binance Launchpool and the developments in the Binance Smart Chain. According to company CEO Changpeng Zhao, BSM’s transaction volume has “reached 10% of ETH network a couple of days after launching.”

Cryptocurrency Market Overview. Source: coin360.comCryptocurrency Market Overview. Source: coin360.com

Another impressive performance comes from Yearn.Finance. The protocol’s native digital asset, despite intended to have no financial value by its creator, surged to a fresh all-time high a few hours ago of $44,000 (on Binance). In other words, one YFI cost more than four bitcoins at the time.

The double-digit price increase club has several other representatives. Those include DFI.Money (33%), NXM (24%), Kusama (20%), Aragon (18%), IOST (16%), Balancer (14%), OKB (11.5%), ICON (11%), and Aave (10.5%).

The gains marked during the weekend so far mean that the total market cap has increased by $20 billion since Friday.

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