BLUR Explodes 25% Daily as Bitcoin Price Eyes $38K (Market Watch)

Bitcoin’s sideways trading continues, but the asset is showing early signs of a potential run-up to the $38,000 level.

Most altcoins are also slightly in the green, as the largest one – ETH – has jumped to $2,100 for the first time in over a week.

BTC to Challenge $38K?

The Binance settlement with the US DOJ, which caused the crypto behemoth over $4 billion, resulted in enhanced volatility for the market earlier this week. BTC went from over $37,000 to $36,200, back above $37,000 to a weekly low of under $35,800 in hours.

However, the bulls finally stepped up as the dust started to settle and pushed the cryptocurrency north. As a result, bitcoin came inches away from tapping $38,000 but, as with all previous attempts recently, failed and slipped back down.

Nevertheless, the asset has remained above $37,000 for the past day or so. In fact, the bulls have started a new leg-up now, and BTC currently sits just inches below the $38,000 line.

Its market capitalization has jumped to almost $740 billion, while its dominance over the altcoins stands tall at 51.4% on CMC.

BTCUSD. Source: TradingView## BLUR Takes the Main Stage

Blur’s native token has gone on a tear in the past week, having added more than 80% of value. The surge in the past 24 hours alone, perhaps fueled by a Binance listing, has been by over 25%.

Next in line in terms of daily gains include Mina (12%), Gas (10%), FET (10%), and Sui (10%).

Most larger-cap alts are also in the green but in a more modest fashion. Ethereum has jumped by 1% on a daily scale and has tapped $2,100 for the first time since the BlackRock spot ETH news broke.

XRP, ADA, DOGE, TRX, Toncoin, LINK, AVAX, MATIC, DOT, and even BNB have all charted minor gains on a daily scale.

The total crypto market cap is up by about $15-20 billion in a day and stands at $1.430 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto