Bitcoin tried again to hit $ 50,000 in the past 24 hours but was rejected, which drove it hard south. Most altcoins have stalled, which has allowed SOL to oust Polkadot after another impressive surge and ATH as the eighth largest cryptocurrency.
SOL’s newest ATH brings it to N8
Most alternative coins have performed pretty much similar to Bitcoin in the past few days. As such, despite the intraday volatility, they are relatively stagnant on a daily basis.
Ethereum, Cardano, Ripple, Dogecoin, Polkadot and Uniswap all saw small losses. As a result, ETH is just over $ 3,200, ADA is $ 2.83, XRP is $ 1.15, DOGE is less than $ 0.30, DOT is $ 26, while UNI is just under $ 27.
While they stalled, some took the opportunity to outperform them and ran with it. SOL has hit another all-time high at $ 97.5 after its recent surge. Perhaps even more impressive is that Solana has now risen to become the eighth largest cryptocurrency in terms of market capitalization.
Speaking of records, LUNA did the same after climbing 16%. The ATH is now over $ 36.5.
Overview of the cryptocurrency market. Source: Quantify Crypto
Further profits come from Arweave (30%), Bitcoin Gold (20%), Audius (18%), NEAR Protocol (14%), Tezos (13%), Cosmos (10%) and Holo (10%). The cumulative market capitalization of all crypto assets is still around $ 2.1 trillion.
Bitcoins volatility 24 hours
Just a few days ago, Bitcoin had fallen to a weekly low of $ 46,300 (at Bitstamp). At this point, however, the bulls rose and began to push the asset north.
Reportedly, this resulted in several consecutive round numbers being recovered, including the short-term development of $ 49,000. BTC continued to climb yesterday, rising to over $ 49,600.
When the cops were preparing for another attempt to crack $ 50,000 for the second time in a week, the bears came to the game. In fact, they regained full control of the cryptocurrency, pushing it south to a daily low of $ 48,000.
After losing nearly $ 2,000 in value in a matter of hours, Bitcoin rebounded and rallied several hundred dollars. Even so, it’s still under $ 49,000, but its market cap remains above $ 900 billion.
BTCUSD. Source: TradingView
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TradingView’s cryptocurrency charts.
