Bitcoin continues to move sideways
A glance at the 7-day chart indicates that we are approaching the end of a quiet week. Bitcoin is leveling off at around $9350, while investors are focusing their attention on the traditional markets. However, price spikes like Compound’s confirm that work is in full swing in the crypto space. We take a look at the current situation.
BTC Chart in Detail
At the time of writing, the leading crypto currency is trading at USD 9344, which is a daily gain of 0.77%. A daily volume of approximately 15 billion USD speaks for itself. Investors are adopting a wait-and-see stance and the lack of purchasing power is preventing the bulls from reaching the magical USD 10000 mark. But there is also positive news. On the downside, the bears have once again suffered a defeat on the USD 9200 support line. The bulls can therefore rely on a strong support line.
Compound with price breakout
Maker’s competitor Compound is showing an astonishing upward trend with a price gain of 59.4%. This puts COMP in the top 20 of the crypto charts. With a market cap of approx. 906 million USD, the ERC-20 token currently ranks 18th, and the high coin price of 354 USD is due to the small supply. The Governance Token was listed on Coinbase Pro this week. Many experts see Compound as a promising solution in the DeFi area. With the latest pump, COMP even passes Maker for the time being.
What does Ethereum do?
Speaking of DeFi… While the focus of investors is on the first mover, Ethereum is struggling to stay above the USD 230 mark. The community is still waiting for the long awaited change from Proof of Work to Proof of Stake. However, there is sometimes no exact date for the launch of “ETH 2.0”.
Land Rover pushes Bitcoin
The British car manufacturer Land Rover pays tribute to the familiar digital currency in a new promotional video. On the occasion of the 50th anniversary, the video presented the development steps of the renowned group. At the same time, important global events are shown in the spot. In addition to the Olympic victories of Mark Spitz and the fall of the Berlin Wall, the invention of Bitcoin is mentioned.