The movement in the cryptocurrency market is still related to the BRL 1.7 billion hacker attack on Wormhole, a project that created a bridge between the Solana and Ethereum blockchains.
The company Jump Trading replaced the stolen 120,000 Ethereum, which gave the market confidence that it would not start a general crash in altcoins.
The result is strong upswings in tokens that were somehow related to the Wormhole.
Solana (SOL), the most affected of all, trades up 11.3% and sells at $105, according to data from CoinGecko.
Ethereum (ETH) is up 9.2% and is priced at $2,837. It is very likely that the one-time purchase of 120,000 ETH by Jump, to be invested in Wormhole, has raised the price and heated up demand. If that's all it is, the trend is for a slowdown in the coming moments.
In any case, the second largest cryptocurrency on the market is up an incredible 17.7% in the last seven days.
The blockchain bridge also operated several other cryptocurrencies, which are now growing: they operate at high Avalanche (+8.5%), Binance Coin (+4.4%), Oasis Network (+9.1%), Polygon (5, 3%) and Land (+7.2%).
BTC and tech companies
Bitcoin (BTC) is up 3.8% and is selling at $37,941. On Thursday (3), Meta (formerly Facebook) released its results, which disappointed the market and the company's shares fell sharply.
Much of the crypto world said this influenced the fact that Bitcoin recorded losses on the same day. If this is true, the correlation between cryptocurrency and big tech is very close, which is not a good sign – BTC's strength has always largely come from being very independent and having little correlation.
Bitcoin's roller coaster is currently in the green: the asset is up 1.8% in the last seven days.
The Bitcoin Portal Index (IPB) registers BRL 202,122.
everybody in high
The market is in a great mood this Friday (4). As of this writing, all the top 100 cryptocurrencies are up, even if small.
Valuations of 4.2% for Cardano, 6% for Polkadot, 3.2% for Dogecoin, 3.6% for Shiba Inu, 12.2% for Cosmos, 5.9% for Litecoin.
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