Overall, 94 of the top 100 cryptos were trading in green territory on Friday morning
Bitcoin climbed higher on Friday as investors wonder if crypto has reached the bottom of the dip, following January’s heavy sell-off, and so should capitalise on the so-called bargains.
The largest digital currency rose 2.8% to US$38,011, but was outperformed by its closest rival Ethereum, which climbed 6.9% to US$2,834.
The two cryptos are still trading approximately 45% below all-time highs seen in November as rising inflation and fears that Russia and Kazakhstan will follow China’s lead and prohibit crypto mining encouraged investors to shift into safer assets.
Alt-coins Solana, Terra, and Polkadot advanced 6.9%, 6.4%, and 3.8% respectively.
Outside of the ‘top 10’, Cosmos and Hedera were the most notable risers, both edging 10%, higher, while Tron was up 6.1%.
Doggy meme-coins Dogecoin and Shiba Inu gained 1.4% and 1.2%.
Overall, 94 of the top 100 cryptos were trading in green territory on Friday morning.
The anomalies bucking the trend included TerraUSD, BinanceUSD, and Tezos which slipped 0.5% or less.