Crypto investors rejoice! At least, for now. The market is in the green at the time of writing (but knowing how volatile crypto is, who knows how long this will last). Of the many coins that are up, both Ark and Dent have been climbing in the past 24 hours.
Yesterday, China blocked all crypto-related websites, and the result was madness. The aim was to “prevent financial risk,” according to the People’s Bank of China, but ironically, the block ended up causing financial risk in the form of the markets experiencing significant selloffs. Bitcoin was down yesterday by almost 16%, and Ethereum dropped nearly 20%. All the top ten cryptos by market cap were down yesterday.
Today looks to be the day of recovery. Numbers are balancing themselves out, a reverse of the old adage what goes up must come down.
Among those coins in recovery are Ark and Dent.
For those not familiar with the coin, ARK is the all-in-one blockchain solution.
Ark started well in January. It breached the $10 mark on January 9th, giving Ark enthusiasts a reason to celebrate. Since then, however, the coin has struggled, declining to its current price of $3.75. Despite this decline, Ark is up today by 16%.
Will Ark be able to hold onto its momentum or is this a temporary upstart?
Similar to Ark, Dent started the year at its highest price point in the altcoin’s history. The coin was selling over $0.10 on January 9th, but since that momentous day, the coin has not fared so well.
DENT coin’s now selling at $0.024904. While this isn’t a lot, it does place Dent among some of the best performers for the day – it has risen by 30.99% in the past 24 hours.
Why are Ark and Dent, among practically every other token on the market, experiencing price increases today? There’s no answer. Perhaps the market is simply correcting itself after yesterday’s terrible performance. A country like China announces something anti-crypto and panic spreads, causing people to sell their coins. Then, by the next day, the initial panic is over, and people begin to buy again. Such is the circle of life in the crypto world.
Featured image: DataPipe