The cryptocurrency market has started the week all guns blazing, as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and other tokens trade in bullish territory. Market optimism has surged as optimism over a new trade deal between the US and China grows. The odds of a rate cut by the Federal Reserve also lifted investor sentiment, as prices rallied. BTC traded around $113,500 over the weekend before price action picked up early on Monday. As a result, BTC reclaimed the $115,000 level, rising over 3% and moving to its current level of $115,477. 

ETH registered an even stronger rally. The altcoin reclaimed $4,000 over the weekend and surged past $4,200 early on Monday. The world’s second-largest cryptocurrency is up over 7% in the past 24 hours, trading around $4,225. XRP is up over 1%, while SOL is up almost 6%, having reclaimed $200 and trading around $204. Dogecoin (DOGE) is up over 6%, while Cardano (ADA) is up nearly 5%, trading around $0.683. Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) have also registered substantial increases over the past 24 hours. 

Bitplanet Initiates Bitcoin Treasury Strategy With 93 BTC Purchase 

South Korea’s Bitplanet has become the latest publicly-listed entity to pivot to Bitcoin (BTC). The firm announced the purchase of 93 BTC on October 26 as part of its long-term strategy to build a 10,000 BTC treasury. The move makes Bitplanet the first fully-regulated company to make a Bitcoin purchase. The firm, backed by Metaplanet’s Simon Gerovich, is positioning itself as the best treasury company in South Korea. 

According to co-CEO Paul Lee, Bitplanet has strength

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Author: Amara Khatri