Bitcoin breaks $US55k, briefly; Polygon soars ahead of Coinbase listing

There’s just one burning question confronting cryptocurrency enthusiasts at the moment: bullish, or SUPER bullish?

While Bitcoin had pulled back slightly after breaking through the $US55,000 mark around 11am AEDT, it was still up around 0.8 per cent to $US53,950 ($70,500) at 1.37pm. (Its all-time high of $US58,640 was hit 16 days ago.)

Overall, of the top 100 crypto-coins on Coingecko, 56 had gained ground in the last 24 hours, while 31 had lost it. Ethereum was down 2.3 per cent to $US1,800 ($2,350).

Polygon hits US32c

The best performer has been Polygon (Matic), which gained 32 per cent to US29.9c ahead of its listing on Coinbase Pro

Around lunchtime Matic hit an all-time high of US32.3c, up from less than US2c at the start of the year.

The token is used to pay for transactions on the Polygon network, a layer 2 scaling solution for the congested Ethereum network that’s being developed by programmers in India.

Bitmax Token, THORChain, Kusama, FTX Token, Theta Network and Decentraland have also hit all-time highs in the past 24 hours, according to Coingecko.

The worst performer in the past 24 hours has been Enjin Coin, apparently taking a breather after several days of very strong gains. It was down 14.8 per cent to $US1.60 this afternoon – still about double its value from a week ago.

 

You might be interested in