Following minor positive gains on Monday, by cryptocurrency volatility standards, Bitcoin and Ethereum continued on their positive October trajectory.
Bitcoin, the world’s most popular digital coin, and its largest rival Ethereum climbed 0.8% and 0.6% higher respectively.
In morning trade, they were changing hands at US$19,761 and US$1,336.
There was a widespread bullish sentiment in the crypto world on Tuesday, as so-called ‘alt-coins’ thought they would join in on ‘Uptober.’
Some 96 of the leading 100 coins were changing hands in the green, with such a dominant positive theme potentially taking investors back to November last year when many cryptos were pushing all-time highs (ATH) on lots of the days.
The world’s most popular digital asset has nosedived 71% in value from its ATH of over US$68,500 seen just under a year ago.
Bitcoin, which closed September 3% lower and officially produced 10 consecutive months of red Heikin Ashi candles, will be looking to lead the way into ‘Uptober’ and fully out of the ‘crypto winter.’
Ethereum, meanwhile, outpaced the top coin in its decline, trading more than 72% lower compared to its ATH seen in November 2021.
But back to present day, Cosmos was the standout anomaly this morning, trading half a percentage point lower and being the only crypto to give up more than 0.2%.
Low market volatility, which has been a theme in recent weeks, was obvious on Tuesday, with none of the 20 most popular coins advancing more than one percentage point.
Further down the pecking order, however, where smaller prices are more price sensitive to transactions, Chainlink and Terra Classic jumped 1.3% and 2.0% respectively.
The real crypto winner, albeit down in 73rd place in terms of most bought cryptos, was Lido DAO, which has progressed a healthy 3.6%.
Investors’ more upbeat approach to cryptos this week comes despite bleak financial data from global markets that have been contributing to the lack of appetite for risk assets.