Altcoin Gains Led by Uniswap, Starknet, and BNB as Bitcoin Reaches $71K
On Tuesday, several altcoins led the price action in the broader crypto market, with bitcoin (BTC) reaching a two-week high.
The governance token of decentralized exchange Uniswap, UNI, surged over 20% after a cryptic social media post by protocol development organization Uniswaps Labs teasing an announcement.
Starknet’s token (STRK) on the Ethereum layer-2 network rallied over 10% after StarkWare laid out its vision to use Starknet to scale the Bitcoin network. However, the token price may face pressure as $85 million worth of STRK will be released from vesting next week, increasing its supply.
The native token of the BNB Smart Chain, BNB, saw a 7% increase, approaching its all-time record price and surpassing $100 billion in market capitalization. The token is benefitting from increased Binance launchpool and launchpad activities.
These tokens outperformed the broad-market crypto benchmark CoinDesk 20 Index, which was up 1.8% over the past 24 hours, with seventeen of the twenty constituents in the green.
Bitcoin briefly topped $71,000 before retreating to the low $70,000s, while ether (ETH) hovered around $3,800, up 0.3% and lagging behind BTC’s 1.5% advance.
Several U.S.-listed bitcoin miners, including Core Scientific (CORZ), Marathon Digital (MARA), TeraWulf (WULF), Bitdeer (BTDR), and Hive Digital Technologies (HIVE), booked substantial gains.
Core Scientific saw a 40% surge following a deal with CoreWeave, and Marathon Digital advanced 5%. Smaller-cap miners TeraWulf, Bitdeer, and Hive Digital Technologies gained 22%, 12%, and 8%, respectively.
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