Bitcoin and Ethereum are little changed this afternoon but Theta has overtaken Chainlink to become the ninth most valuable cryptocurrency, while the “Coinbase effect” has re-emerged as a potent crypto catalyst.
At 3.57 pm AEDT, Theta coins were trading at $US14.37 ($18.91), up 23.8 per cent from yesterday.
They hit an all-time peak of $US14.50 ($19.08) around mid-afternoon, following word that four US private equity investors would stake more than $US100 million in Theta to form another Enterprise Validator Note, processing transactions on the video livestreaming network in exchange for tokens.
Congrats @mitchliu @jieyilong and Team @Theta_Network! Keep up the great work.#CryptoNews #EnterpriseTech #Startup https://t.co/b7aB4ZOCF9
— Sierra Ventures (@Sierra_Ventures) March 23, 2021
Theta’s rapid ascent means the 100,000 tokens bought by a young Aussie father in April 2020 for $17,000 are now worth $1.9 million, although he told Stockhead yesterday he had sold about $300,000 worth of tokens.
I am getting so anxious!!!
Prices are in $AUD$Theta #Theta $Tfuel #Tfuel #ThetaNetwork pic.twitter.com/vopzxeToUt
— Grave 🧟♂️ (@GravedinGaming) March 23, 2021
Coinbase effect
Meanwhile, Ankr, Curve DAO (CRV) and Storj all soared after leading US exchange Coinbase said it would list the ERC-20 tokens on Thursday, in the re-emergence of a pattern the occurred repeatedly during the 2017 bull run.
Me watching my $ANKR & $STORJ bags when getting listed on coinbase pic.twitter.com/8uiXuwnWTY
— Cryptoer (@TheCryptoer) March 23, 2021
Ankr, the No. 95 token on Coinmarketcap, was up 37 per cent to all-time high of US10c around 3pm AEDT. Ankr is part of an infrastructure solution for blockchain projects.
Curve Dao, a governance token for the Curve decentralised finance platform, had gained 21.5 per cent to $US2.91, while decentralised cloud storage platform Storj (pronounced “storage”) had soared 105 per cent to $1.88.
Ankr had the most gains of any top 100 coin (Storj is ranked 122nd) in the past 24 hours, with Theta in second place and Curve Dao in third, according to Coingecko.
Overall 31 coins top 100 coins had gained while 66 had declined in the 24 hours to 3.18pm.
Bitcoin was trading for around $US54,500 ($71,850), while Eth was changing hands at $1,680 ($2,220), both down slightly from yesterday.
BTC dipped below $US54,000 around lunchtime today as well as late yesterday afternoon, but in both cases didn’t stay there long. (On the other hand, an move over $US55,000 overnight also fell through around 7am this morning).
Dutch crypto trader and analyst Michael van de Poppe tweeted that as long as the US$49,000 to $US51,000 support held, BTC was still on pace for a major move higher.
To me, this looks like a healthy correction for #Bitcoin.
As long as $49-51K holds, I’m assuming we’ll see continuation towards $68K.
Still expecting a massive surge on #altcoins to happen from April onwards. pic.twitter.com/WxaYQZ7IrE
— Michaël van de Poppe (@CryptoMichNL) March 23, 2021
🤩 #bitcoin wait for the confirmation on the 1h.. but it’s looking good! pic.twitter.com/0w4RNMrAGZ
— PabloASXco₿ar (@PabloASXcobar) March 24, 2021
In addition to Theta and Ankr, Uniswap and Bitmax were the top 100 tokens setting all-time highs in the past 24 hours, according to Coingecko.
