Bitcoin prices faced extreme volatility in the days leading up to the much-anticipated fourth halving, but have remained relatively stable since the halving was completed.
Despite the big news from Tether, most altcoins are marginally profitable on a daily scale, with the exception of TON, which saw a double-digit decline.
BTC calm after halving
Bitcoin’s adverse price development began last Friday when the asset fell from over $71,000 to $65,000. It recovered a few rands the next day, but fell further to $61,000 after hours as the conflict between Israel and Iran escalated.
After another failed rebound attempt on Monday, the cryptocurrency began losing value during the trading week as well. Israel's attacks on Iran from the beginning of this week have caused the price of BTC to fall again, this time below $60,000.
But after Iran announced it would not immediately retaliate, the price quickly rebounded, soaring to $65,000 within hours. Not much has happened in the past 24 hours, even as the Bitcoin network gears up for its fourth halving.
The event completed a few hours ago and the block reward was reduced to 3.125 BTC. So far, the price of Bitcoin has remained relatively stable at around $64,000.
The company's market capitalization exceeds $1.25 trillion, and its control over alternatives is 51.5% on CG.
ADA, ICP on the run
Perhaps the most notable news aside from the halving was announced yesterday by Tether and Tong. The former announced the launch of two of the largest stablecoins on the latter's network. This instantly affected the price of his TON, causing the price to skyrocket, but then dropping significantly over the next few hours. As of now, assets have decreased by 12%.
In contrast, ICP has soared 13% and is trading above $14. ADA is up 7% and approaching $0.5. The remaining large-cap stocks are also in the green, albeit more modestly.
CoinGecko's cryptocurrency market capitalization has stabilized at approximately $2.45 trillion.
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