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26 January 2022
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Bitcoin over $50,000 and Ethereum price goes up before update – Market Summary

This Tuesday (7th) the market capitalization of cryptocurrencies has totaled $200 billion since yesterday, as the BTC and most altcoins posted impressive gains.

Check out today’s Market Summary of Lightning Network nodes increase and Ibovespa gains, following the international markets yesterday. Also see what changes on the Ethereum network with the new Arrow Glacier update.

Bitcoin over 50,000

The last few days have not been good for the leader of the cryptocurrencies. As reported on Saturday, the asset plummeted in a matter of hours to a two-month low of $42,000.

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It tried to bounce back on Sunday with a jump to $50,000, but the bears wouldn’t allow a price jump above that level. The subsequent rejection took him south, once again, to $47,000.

However, bulls have grown up in this war since then. As a result, bitcoin has started an impressive evolution, has recovered $50,000 and is currently above $51,000.

As a result, its market capitalization approached the coveted $1 trillion mark once again, while its dominance over altcoins was reduced to just over 38%.

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Bitcoin may have lost some dominance, but the capacity of the second-tier transaction channel has increased. We’re talking about the Lightning Network, which gained significant traction in 2021, when more than two million Salvadorans were integrated into bitcoin.

Read too: 55% of Bitcoin hodlers have entered this year; second survey

As the Lightning-based Strike portfolio undergoes a global rollout, it is expected that even more nodes will be added. In May 2021, the number of nodes hovered around 40,000 and has shown a parabolic increase since then.

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The total BTC capacity on the Lightning Node channels as of December 3rd was 3233.5 BTC, with 514 BTC added to the channels as of September 2021. analyst Will Clemente, the increase in channel capacity is significant for bitcoin to fulfill its role as a medium of exchange.

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