Bitcoin re-tested $40,000, and the total value of the cryptocurrency market exceeded $1,000 billion

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Market data showed that Bitcoin broke through $40,000 again at 23:30 on the 14th, and its market value rose to $740 billion.

According to data, Bitcoin showed an upward trend at 2 o’clock on the 14th. The price started at around 34,000 US dollars and reached 37,000 US dollars at 12:00. Since then, the cryptocurrency has further increased its strength, officially breaking through $39,000 at 21:00, and the intraday increase has expanded to 13%.

At 23:30, Bitcoin returned to $40,000, erasing most of the decline on January 11. Affected by the rising market, the prices of mainstream cryptocurrencies such as BCH, ETH, and LTC have soared. Among them, ETH once again exceeded $1200, rising 12% within the day.

In addition to Bitcoin’s compelling gains, among the top ten cryptocurrencies by market value, the DOT trend is also eye-catching. According to the market, DOT rose sharply from 9 U.S. dollars to above 12 U.S. dollars on the 14th, rising by more than 30% in the day, and its market value surpassed the old cryptocurrency LTC, exceeding 11 billion U.S. dollars, ranking it to the fifth in the world.

In fact, since late December 2020, after the price broke the US$5 mark, DOT began to accelerate its upward trend and broke through US$10 on January 4. Since then, affected by the volatility of the broader market, DOT stepped back on the $7 line on January 11. However, by the 12th, the DOT situation was reversed and the upward momentum increased. Its price not only broke through 12 US dollars on the 14th, but further advanced to 13 US dollars at zero o’clock the next day, a record high.

The strong rise of DOT is closely related to the ecological development of Polkadot. On January 11, the Polkadot test network Rococo V1 opened the registration for parachain testing qualification. This means that Polkadot is one step closer to opening the Parachain Slot Auction. Up to now, there are four parachains running on Rococo V1, namely: Tick Parachain 1 test network, Trick Parachain 2 test network, Track Parachain 3 test network and Plasm Network.

In addition, 17 projects including Zenlink, ChainX, Starks Network, Encointet, Crust Network, KILT, Acala Network, Robonomics Network, HydraDX, Clover, Jupiter, and Phala Network have all participated in the parachain registration application.

According to the official introduction, the bidding for Parachain slots on Kusama (Polkadot Experimental Network) will be conducted before Polkadot. The exact time has not yet been announced. However, according to PolkaWorld’s guess, “If all goes well, the Kusama slot auction will be held around March this year, and the Polka slot auction will be around April.”

Affected by this, not only did the DOT price rise, but the Kusama token KSM also showed significant upward mobility. According to data, KSM rose 10.42% on the 14th, and the price rose from 70 US dollars to 85 US dollars, which also hit a record high.

It should be noted that there will be 4.4 million and 10 million DOT unlocked on January 15 and February 5. If these tokens are sold to the market, the DOT price may fluctuate sharply, and investors should pay attention to market trends.