Bitcoin, Ravencoin, OKB, Apecoin & Arweave – Is A New Bull Run Coming?

The Queen is dying – and the crypto markets are exploding! Almost every coin in the top 100 is currently going through the roof, many pumping in the double-digit percentages. Top performers today include: Bitcoin (BTC), Ravencoin (RVN), OKB (OKB), Apecoin (APE) & Arweave (AR). How did the courses develop?

Bitcoin pumps, Ethereum too: digital assets rise

Crypto markets have been facing huge volatility for days, meaning strong price swings. After Bitcoin, Ethereum and many altcoins recently had to accept sensitive losses, prices are now moving in the opposite direction again.

Everywhere you look: Digital assets are pumping massively – with a few exceptions. Below: TerraClassicUSD (USTC), the stablecoin of the Terra blockchain.

Heading south for TerraClassicUSD. Image: Coinmarketcap.com

It is still trading quite volatile at $0.04152, down more than 10% on the day (data from Coinmarketcap.com). While Terra Classic’s associated LUNC token is down just 0.49% on the day, it may be poised for more downside. UNUS SED LEO (LEO) also lost about 5%. The coin is currently trading at $4.97.

But that’s the end of the list of losing coins. All other assets in the top 100 are green today – and not too close: Bitcoin, for example, was able to move from well over $19,000 to up to $20,700 in a sudden pump move, thus appreciating almost 9%. The network has traded around $40 billion in the past 24 hours – trading volume is also at record highs.

Bitcoin trades above $20,000 again. Image: Coinmarketcap.com

Ethereum closely follows BTC: After yesterday’s big losses, the smart contract platform is bullish again shortly before “The Merge”, gaining almost 6% and trading above $1,700.

ETH pumps. Image: Coinmarketcap.com

Exploding Altcoins: Today’s Top Performers

However, the two crypto top dogs are now being overshadowed by some altcoins. They are currently pumping as if the next bull run was just around the corner: First and foremost, Ravencoin (RVN), a Bitcoin fork. It was still trading at lows around $0.035 yesterday, then exploded to $0.04505 – up a whopping 28% in 24 hours.

RVN daily chart. Image: Coinmarketcap.com

What exactly triggered the rally is unclear. According to speculation, the Ethereum merger may be related to this – allegedly miners are looking for a new network.

The second best altcoin today is OKB (OKB), the utility symbol of the Maltese crypto exchange OKEx. In an almost vertical move higher, bulls drove OKB from $13.6 as low as $17.08, marking a gain of more than 25% on the day.

Vertical up: OKB in the daily chart. Image: Coinmarketcap.com

ApeCoin (APE), the token of the “Bored Ape Yacht Club” producers, also pumped strongly. +19% on the daily chart took APE from $4.37 to a fresh local high of $5.235. A small correction has just been followed by the rally. However, this is moderate, depressing the APE price only slightly – to $5.18, where the token is currently trading.

APE daily chart. Image: Coinmarketcap.com

ApeCoin once again cements its position as the most dominant NFT coin: With a current market cap of $1.5 billion, APE is ahead of Decentraland (MANA), Axie Infinity (AXS) and Chiliz (CHZ).

Arweave brings up the rear among the best coins today with a daily gain of almost 16%. Bullish for the coin: The software developers at Community Labs just raised $30 million in a funding round. The capital will now be used to develop solutions for Arweave (AR).

Community Labs on Twitter:

“We are excited to announce that we have raised $30M in a strategic round from @lightspeedvp, @arweaveteam, @baincapcrypto, @blockchaincap, @DistributedG, @Roadcapitalmgmt + more.

We’re here to build solutions on Arweave that will help the next 1000 developers and founders get on board.”

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