Bitcoin price is on a rebound after massive declines since the beginning of the week. Shortly after attaining highs of $60,100 on Mar. 18, Bitcoin price entered a downtrend till bulls bought the dip at $50,305. Following the quarterly Chicago Mercantile Exchange (CME) Bitcoin and Ethereum options expiry and as the weekend approaches, investors expect Bitcoin price and Altcoins to gain ground from the current price levels.
Bitcoin leads the rest of the crypto market in a collective rebound, up by 4.50% at a present price of $54,700. Ripple (XRP) also posted gains of nearly 8% over the last 24 hours. Some selected Altcoins have posted double-digit gains including Terra (+11.39%), Holo’s HOT (+23.40%), Filecoin (+27.71%), and THORChain (+22.25%) while Arweave and Ankr clinched new record highs.
BTC/USD Daily ChartKlaytn (KLAY) is Kakao’s enterprise-grade, a service-centric platform that aims to bring a user-friendly blockchain experience to millions of users. Recent reports indicate that crypto exchange trading in South Korea is on the rise. Earlier in March, the reported volume across major platforms temporarily exceeded the market activity of the country’s stock market.
This has led many Analysts in South Korea to predicting a significant share price increase for internet giant Kakao (Kakao runs the most popular chat app in South Korea while making crypto transactions a part of their messaging app, KakaoTalk) amid the current Bitcoin bull market.
Last year September, Data indicates that Coinone, a South Korean exchange, saw its user base rise by about 10,000 people per month after listing Kakao’s Klaytn (KLAY) token in June. Fast forward to this year 2021, Klaytn (KLAY) suddenly emerges in the top 20 cryptocurrencies by market cap as listed by coinmarket cap.
Arweave (AR), a decentralized storage network that seeks to offer a platform for the indefinite storage of data rose to all-time highs of $26.20 on Mar. 26.
ANKR/USD Daily ChartThe reason why Arweave (AR) is on the rise? Data storage remains a profitable business. Arweave stores data in a decentralized manner and asserts that it will be stored forever unlike centralized companies where users have to blindly accept their policies and hope the company will not go out of business and that they also use proper security measures to safeguard the data.
This is paramount during the present non-fungible token (NFT) frenzy where buyers are paying a huge amount in dollars to buy NFTs of their choice. If the NFT is misplaced or stolen due to any reason, it will incur a huge loss to the buyer. Therefore, Arweave’s claim of permanent storage may seem appealing for NFT owners.
At the time of writing, Arweave is trading at $25.13, up 25.28% in the last 24 hours and 36.12% weekly.
Filecoin, another decentralized storage system that aims to “store humanity’s most important information” has been on a tear since mid-March rallying to highs of $119. The asset has gained 28.45% in the last 24 hours and 41.66% weekly.
The Ankr network is a blockchain-based distributed computing platform that aims to create an easy and affordable way for developers to deploy multiple blockchains to leverage idle computing power from devices and data centers.
Following a Coinbase listing on Mar. 25, ANKR rallied to new all-time highs of $15.24 (as seen on Binance). ANKR is up by 49.16% in the last 24 hours and 107.16% weekly as at the time of writing while trading at $0.1389.
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