Crypto investors got a pleasant surprise today when yesterday’s bullish trend continued and finally pushed bitcoin well above the $7000 mark. The last time bitcoin was over $7000 was back in early June. Today’s price jump appears practically as a vertical line on the 30-day bitcoin chart. Several other coins and tokens saw big jumps today including Maker, Nano, WAX, and Decentraland. Perhaps now we may be finally seeing glimpses of the light at the end of the bear tunnel.
Breaking Down the (Price) Barriers
At press time, bitcoin prices were sitting at $7429, meaning an increase of over 10% since yesterday. Cryptocurrency markets as a whole have seen an increase from $272 billion to the $296 billion range.
Bitcoin Price 7 Day Chart
Bitcoin was not the only star of today’s fireworks show. If you other projects made some incredible gains today with some gaining upwards to 30% in value in just a single day.
Maker, Nano, Wax, and Decentraland
One coin in particular, Maker, has seen a 12% jump in the last 24 hours and is now standing at $662 each. Maker has been holding pretty steady during the last bear market, with slow and steady gains throughout the last 30 days. But in today’s bump, the prices jumped by about $70 each. Maker is currently sitting at rank 33 by market cap.
Another big winner today was Nano, which saw a 14.3% gain. While the project is still nowhere near its all-time high of around $35, prices jumped from $2.61 all the way to almost 3 dollars within just a few hours. This puts nano at rank 37 by market cap.
Read also: Beginners Guide to Nano (RaiBlocks)
One of today’s biggest winners is WAX, a decentralized exchange project that saw a 26.2% jump today. Prices for WAX have been relatively flat for the last six months, but today the project saw a jump from $0.12 to $0.16 each. With a total market cap of $153 million, WAX sits at rank 72 by market cap.
One of today’s biggest winners by far was the Decentraland project. This VR project that wants to launch what they call 3D interactive worlds and that runs on Ethereum saw an incredible 27.77% price jump at press time. This means asset prices went from around $0.10 to $0.13. While this project may be smaller than other coins like the previously mentioned Nano, it’s a safe bet that MANA (not to be confused with Manna) investors are having a pretty nice day today thanks to their strong gains in the market.
What’s Behind the Jump?
It would seem that one possible cause for today’s continuation of yesterday’s upward trend is related to Goldman Sachs. The company which brought on a new CEO recently, David Solomon, is apparently “keen on bitcoin and crypto” according to a Forbes article.
The article contains a quote from Solomon, where he said that his bank should “evolve its business and adapt to the environment” and that the group is currently “clearing some futures around bitcoin, talking about doing some other activities there, but it’s going very cautiously,”.
This news follows yesterday’s news that investment titan Blackrock was also getting involved in cryptocurrencies.
It does seem like some of the big names in finance are finally starting to open their eyes to some of the amazing possibilities that blockchain based assets can offer.