RAVE has skyrocketed by over 1,000% in the past week alone, sodilifying its spot in the top 100 alts by market cap.
Bitcoin’s gradual price increase that began after the US and Iran announced a two-week ceasefire came to an end earlier this morning when the two sides failed to reach a permanent peace agreement.
Most altcoins have followed suit, with ETH sliding toward $2,200, while HYPE, ADA, BCH, and LINK have marked more substantial declines.
After the slow previous weekend, BTC began the business week on the right foot, surging from $67,000 to $70,000 amid reports that the US and Iran had begun negotiations for a ceasefire. More volatility ensued as the report was initially denied, and BTC slipped below $68,000.
However, once US President Donald Trump announced the ceasefire on Tuesday morning, bitcoin rocketed to over $72,000. It climbed to almost $73,000 later that day as the FT suggested Iran would want BTC payments from ships passing through the Strait of Hormuz.
With peace talks scheduled for Saturday in Pakistan, bitcoin continued to climb gradually by the end of the week and peaked at nearly $74,000 late last night. However, it dumped by over two grand in minutes after US VP Vance announced both sides had failed to reach an agreement.
As of now, bitcoin stands at $71,500 after a 1.5% daily decline. Its market cap is down to $1.430 trillion, while its dominance over the alts has remained above 57% on CG.
Most larger-cap alts are slightly in the red today. Ethereum is down by 1% but has managed to maintain above $2,200. XRP is down to $1.33 after a similar decline, while BNB has lost the $600 support. SOL is down by over 2%, while HYPE, ADA, and BCH have slipped by more than 3%. Even more profound declines are evident from RAIN and DOT.
In contrast, RaveDAO’s native token has exploded by another 40% today. The asset has gained more than 1,000% since last Sunday and is now well within the top 100 alts by market cap.
The total crypto market cap is down by over $30 billion and is down to $2.510 trillion on CG.
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