BTC continues its run alongside positive COVID-19 vaccine news

Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.

The price of Bitcoin ( BTC) pushed higher yesterday, rising from a low of $15,875 to a high of $16,895. The market-leading cryptocurrency is currently up 3.5% over the past 24 hours and is trading at 16,642 USDT on OKEx.

Altcoins have finally moved up alongside BTC, with some seeing impressive gains. XRP surged over 10% while Litecoin (LTC), Polkadot (DOT) and Aave have all seen gains of around 9%.

The total cryptocurrency market capitalization has risen approximately $16 billion and now sits around $486 billion, according to CoinGecko. BTC dominance, meanwhile, has decreased to just under 64%.

Stocks in the United States continue to surge following news that Moderna’s preliminary COVID-19 vaccine trial has been more than 94% effective. The Dow is nearing a new high as confidence floods the market, despite the rising number of new coronavirus infections in the United States and Europe.

It appears that traditional market investors are laying the foundation for long-term investment plans as positive vaccine news continues to roll in. Against this backdrop, the price of BTC could continue to increase in the long-term as investors’ appetite for risk increases.

Top altcoin gainers and losers

  • ZYRO/USDT +27.01%
  • SFG/USDT +26.36%
  • QUN/USDT +23.20%
  • VALUE/USDT -10.44%
  • ARDR/USDT -14.40%
  • LMCH/USDT -17.03%

S.Finance ( SFG) is once again on OKEx’s list of top performers, for the second day in a row, after surging another 26%. Otherwise, gains and losses are somewhat more modest when compared to yesterday’s results.

Visit https://www.okex.com/ for the full report.

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BTC continues its run alongside positive COVID-19 vaccine news was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Publication date: 
11/17/2020 - 11:45
Author: 
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.