Welcome to Altcoin Daily, where I bring you the latest cryptocurrency news, every single day.
Today is February 7th and here’s what’s going on in the crypto space.
First, Bitcoin is up over 10% in the past 24 hours and is trading at a new 2020 high of over $10,000. This surge in price is due to a combination of a weakening US dollar, increased investor confidence and the upcoming halving in May.
Next, Ethereum is up over 8% and is now trading at an all-time high of $270. Ethereum is benefiting from the growing interest in decentralized finance, or DeFi, which is built on top of the Ethereum blockchain.
Finally, altcoins are continuing to rally, with many coins up over 10% in the past 24 hours. Coins like Tezos, Zcash, and Chainlink are all up significantly, while many other coins are also seeing strong gains.
That’s all for today. Be sure to follow Altcoin Daily for all the latest cryptocurrency news.