Market Updates
10 months ago

BTC Tops $30K While Stellar (XLM) Skyrockets 23% Overnight: Market Watch

George Georgiev Jul 20, 2023 08:58
Bitcoin has managed to reclaim the $30K, while XLM soared by over 20%.

The market is mostly painted in green throughout the past 24 hours as the majority of cryptocurrencies are trading well in the positive. This includes both Bitcoin and altcoins.

The best performer is undoubtedly Stellar’s XLM, which surprised with a 23% explosion, so let’s dive in.

Bitcoin Tops $30K, but for How Long?

Over the past few hours, the market has taken a positive turn, which allowed Bitcoin’s price to reclaim the important technical and psychological level of $30K.

Source: TradingView

At the time of this writing, the BTC price hovers above the mark, and the bulls are seemingly attempting to push the price forward.

This comes on the back of news that Tesla didn’t sell its BTC holdings for a fourth consecutive quarter. The positive report seems to have alleviated some of the strain on the market, which bounced upwards. Bitcoin dominance currently sits at around 46.6%.

Altcoins in the Green, Stellar (XLM) Leads With Gains

As you can clearly see in the following heatmap, the market is doing pretty well today. All of it is painted in green, which is never a bad sight to see.

Source: Quantify Crypto

Most notably, from the larger-cap cryptocurrencies, MATIC soared by some 6%, followed by 5.41% by Ripple’s XRP, 4.7% from SOL, and so forth.

The best performer for the past 24 hours, however, is Stellar’s XLM. It exploded by over 20% throughout the period and is leading the entire market.

On the other end of the spectrum, we have Rocket Pool’s XRP, which failed to capitalize on the upswing and is down 4% on the day.

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Cryptocurrency charts by TradingView.
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George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn