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

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

    Author: Jordan Lyanchev

    Last Updated Sep 13, 2020 @ 08:21

    Bitcoin has climbed above $10,500 for the first time since September 5th. DeFi tokens surge as YFI marks another all-time high of $44,000.

    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.

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    BTCUSD. Source: TradingView
    BTCUSD. 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.com
    Cryptocurrency 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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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.

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    Tags: Binance Coin (BNB) Price Bitcoin (BTC) Price Ethereum (ETH) Price Yearn Finance
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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