With the recent high volatility, a trend above this level is evident: cryptocurrencies are demonstrating power and perseverance in the face of harsh unfavorable fundamentals.
According to CoinMarketCap data, Bitcoin (BTC) was among the digital currencies that led the rise this weekend, rising 2.49 percent to $22,751.06. Ethereum (ETH) is also trading at $1,599.19, having gained up to 19.58 percent in the last 24 hours.
At the time of writing, the KuCoin Token (KCS), which is native to the KuCoin trading platform, was trading at $9.94, up 1.40 percent in the previous 24 hours and 8.68 percent year to date. This growth is somewhat surprising, given the tremendous Fear, Uncertainty, and Doubt (FUD) circulated by a now-deleted Twitter account, Otteroooo, who claims to have insider information about the trading platform's impending insolvency.
While CEO Johnny Lyu quickly allayed all anxieties and disputed rumors that retail investors did not panic, selling is one of the fallacies that has supported the green ticks that are currently visible in the ecosystem.
Retail Investors Remain Wary
While the enormous collapse that has swept the digital currency ecosystem in recent weeks has been more damaging to corporate investors, most ordinary investors have also suffered severely.
With the business displaying signs of short-term recovery, retail investors may have been alerted to triggers fuelling their drive not to miss out on potential rewards from this impending expansion.
However, with additional hurdles ahead in the form of the US Fed's impending interest rate hike, ordinary investors are arguably keeping a close eye to prevent being caught off guard.
As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!
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