What happened
When investors check their watch lists for daily price action in the crypto world, Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and Dogecoin (CRYPTO:DOGE) are three of the top cryptocurrencies most often looked at for an idea of which direction the winds are blowing on a given day. As of noon ET today, these three top tokens have appreciated 2.6%, 4%, and 2.9%, respectively, over the past 24 hours.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
These strong moves higher are noteworthy for a few reasons. From a macro level, global macroeconomic uncertainty related to geopolitical tensions between Russia and Ukraine remains high. As of noon ET, all three major indexes traded lower on these concerns. However, the crypto market overall has risen dramatically, driven by outperformance from these three top tokens.
Image source: Getty Images.
Bitcoin received a boost from investor recognition that sanctions may be more limited against Russia than previously thought. Additionally, it appears crypto is receiving a boost from news that Russia may be removed from the SWIFT payment network, a move that could boost crypto transaction volumes in the near term.
Bitcoin, Ethereum, and Dogecoin all also saw adoption pick up today. Sling TV announced that it would accept these three tokens, among others, for payment. News that a Dubai-based restaurant has opened with a Dogecoin theme also appears to have some investors excited.
So what
The macro environment is starting to settle down, or at least investors appear to be better able to understand the risk-reward of crypto in the context of these concerns. Perhaps there’s an argument that can be made that economic sanctions could boost the value of these digital payment networks. Sometimes, bad news can be good news. Today, crypto investors appear to be interpreting the geopolitical environment as such.
Continued adoption of crypto via various corporate entities continues to drive a bullish long-term trend for…
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
