Other altcoins in CoinDesk's top 20 by market cap, with the exception of one, have also had price increases.
So here's what's going on right now:
The market is in motion: In the wake of the "Black Friday" sell-off, Bitcoin led the crypto market to a third straight day of recovery.
Short-term momentum is strengthening, but buyers must clear $60K to maintain the rise.
Catch up on the most recent episodes of CoinDesk TV for in-depth interviews and analysis with the crypto industry's top figures.
Prices
$57,990 in Bitcoin (November 29th)
Ether (ETH): $4,445.
Markets
The S&P 500 gained 1.3 percent to $4,655.
There was a 0.6 percent increase in the Dow Jones Industrial Average
Price on the Nasdaq: $15,782 up 1.8%
Gold: $1,782 -0.5 percent.
The price of stocks and other financial instruments fluctuates.
After a dramatic decline of more than 8% on "Black Friday," Bitcoin led the crypto market to a third straight day of gains. On Monday, the most valuable cryptocurrency, Bitcoin, climbed to around $59,500 before falling down to the $58,000 level.
However, on large centralized exchanges, bitcoin trading activity was significantly lower than it was the previous Monday. Asia First Mover highlighted Monday's omicron coronavirus strain and its implications on the global markets, including crypto, and investors are eagerly waiting for the latest information.
Asian investors appear to be less influenced by Omicron's recent developments, according to one analyst.
There hasn't been much volatility in the Asian market over the last few days," says Rachel Lin, CEO of DeFi derivatives platform SynFutures, citing China's A-share market, which closed Friday with little movement, as evidence.
According to a Bloomberg report, China's COVID-zero approach may have protected the country's equity market from the Omicron strain's effects.
The return on Bitcoin has surpassed $58K thanks to the efforts of technicians.
Support for Bitcoin (BTC) is staying above its 100-day moving average, which stands at roughly $54,200.
With a price of $58,000 as of this writing, the cryptocurrency may see resistance near $60,000-$63,000.
On the daily chart, price momentum is starting to recover, which suggests that buyers could continue active throughout the Asian trading day. It's worth noting that the RSI on the daily chart is near oversold levels, which was the case before the price rally that began in late September.
Buyers must first break through resistance in order to advance to the next level of potential gains. As purchasers failed to maintain an all-time high near $69,000 in the past month, longer-term signs have changed to neutral.
The most significant events of the year: Ethereum News
HKT/SGT/UTC: New Zealand's business confidence is at 8 am HKT/SGT (12 am UTC) (Nov.)
12:30 a.m. UTC: Australia's construction permits (October MoM/YoY) at 8:30 a.m. HKT/SGT
At 1 a.m. UTC, the China purchasing managers' index will be released (Nov.)
Afternoon (HKT/SGT): China non-manufacturing purchasing managers index (PMI) (Nov.)
The CoinDesk TV
In case you missed any of the most recent episodes of "First Mover" on CoinDesk TV, here are the episodes you should have seen:
SoftBank Raises $93 Million to Expand Its NFT Metaverse in the Sandbox as Bitcoin Recovers to $58K Level
For an insider's view into the metaverse gaming market, "First Mover" hosts chatted with The Sandbox co-founder and Chief Operating Officer Sebastien Borget, as the company releases Sandbox Metaverse Alpha. Amidst bitcoin's recent rally, GlobalBlock CEO Rufus Round revealed market views. The co-founders of The Giving Block, Pat Duffy and Alex Wilson, discussed how charities and nonprofits might use crypto for donations.
Ethereum was launched in the summer of 2015 with the goal of broadening the spectrum of blockchain and cryptocurrency applications beyond Bitcoin's initial scope, including permissionless financial services, crowdsourcing, and new organizational structures.
Programmable scripts called "smart contracts" were designed to simplify the movement of digital assets on Ethereum, which was intended to be a "global computer."
As with Bitcoin, Ether (ETH) is utilized as "gas" to perform transactions using smart contracts, which offers an incentive structure for network security and maintenance. Security measures safeguard the network from inefficient programming and malicious assaults.
Here at Cointelegraph, we're keeping tabs on the latest developments in the Ethereum ecosystem. For a more open and free internet, will it be necessary to have this infrastructure? Alternatively, will alternative smart contract (or non-smart contract) platforms compete for market and mindshare?
What's the deal?
"Smart contracts" are used to build Ethereum-based applications. The terms of a deal are spelled out in smart contracts, just as they are in traditional paper contracts. Smart contracts, on the other hand, don't require either party to know the identity of the other — nor do they require any form of middleman — unlike traditional contracts.
In the last seven days, the price of Ethereum has dropped significantly.
Ethereum's price has dropped 7.36 percent in the last seven days. In the last 24 hours, the price rose by 0.94 percent. The price has risen by 0.41 percent in the last hour alone. There is currently a HK$29,307.021159 price for each ETH in Hong Kong today. Hong Kong's all-time high for Ethereum is HK$4,088,574,371,519.17. There are 118,990,722.124 ETH in circulation at the present time.
This year is winding down, and I wanted to take a closer look at five of the most anticipated aspects of Ethereum's impending switch to proof-of-stake. As many market participants and outsiders may believe, the Merge will not be as initially glamorous as many believe. Ethereum will be able to add millions of new users thanks to the innovations and foundation it provides, without jeopardizing its decentralized nature.
