Bitcoin surges up to pass $40,000

Bitcoin, the biggest cryptocurrency by market capitalization, crossed the US$40,000-mark on Wednesday morning Asia time and returned to its pre-increased price in less than two hours.

Fast facts
Price of Bitcoin has remained steady for the past five days, and its sudden increase on Wednesday morning was one of the only notable price actions for the volatile asset.

Bitcoin’s price has since dropped back to US$39,065, which is a lower trading price than the cryptocurrency’s sudden surge.

Excluding stablecoins and Waves, all top 50 cryptocurrencies mirrored Bitcoin’s sudden price increase and decrease in this two-hour window.

Waves is a Web 3.0 development toolset, and its crypto was trading at US$30.39 at press time, up 16.5% in the past 24 hours, which is second only to The Graph’s 22%.