The altcoin market faces a recovery as Bitcoin breaks $40,000 resistance second time in a day
After Bitcoin’s unexpected spike to $41,500 and a quick comeback later, altcoins also joined their big brother’s run and surprised the market with an average growth of 7% in the last 24 hours.
Waves’ mind-blowing 170% run
If the surprise from 2017 is still possible, then Waves is a perfect candidate for the biggest and loudest return on the market among cryptocurrencies presented back in the “ICO era.” The unexpected run of the token of the multi-purpose blockchain platform was mostly fueled by the speculative interest of the market as such fundamental changes were presented for the project.
The initial run started in late February and lasted until March 3. After a short correction and consolidation, Waves reached the local high of $31.5. The token’s massive pump was also followed by an increase in trading volume in the market.
ChainLink follows trend
As the altcoin market recovers, one of its representatives, Chainlink, also shows increasing returns that are currently staying at 8%. While LINK could not show as impressive a result as Waves, it has still shown an 11% increase in the last three days.
From a longer-term perspective, LINK remains in a strong downtrend, losing around 28.3% in the past 36 days. Such a drop in value was most likely related to the correction in the cryptocurrency market rather than project-specific issues.
Bitcoin continues dominating on the market, with most digital assets following it despite the stagnant performance over the last 30 days. The first cryptocurrency finally broke past $40,000 and currently trades at $40,428.
