Bitcoin’s recent rally continued for the past 24 hours as the asset reclaimed $ 50,000 for the first time in more than three months. However, some altcoins have done even more impressively, with ADA leading the way. Cardano’s native coin made another all-time high, nearing $ 3.
Bitcoin over $ 50K
The day was May 14th, shortly after Elon Musk started criticizing Bitcoin for using too much energy for mining. China’s crackdown hardly began either, but the effects of both were already evident in the price of the primary cryptocurrency.
It toppled over $ 20,000 in the weeks that followed and stood there for a while. However, after the last such drop below $ 30,000 on July 20, the situation changed pretty drastically.
BTC began to quickly reclaim some of its lost ground, breaking over $ 40,000 and rising. Most recently, it tried to break through $ 49,000 on a few occasions, and yesterday only $ 200 got away from the $ 50,000 but failed.
However, as reported earlier today, that particular level also fell when Bitcoin climbed above it for the first time since the above date in mid-May. As a result, the USD value of the cryptocurrency has risen about 72% since the July 20 dump.
Currently, BTC is still above $ 50,000 and its market cap has approached nearly $ 950 billion.
BTCUSD. Source: TradingView
Cardano’s latest record; BNB spikes 7%
The alternative coins have also performed well since the crash in July. Ethereum nearly doubled in value the following month, hitting a three-month high of $ 3,360 today.
Even so, Cardano continues to win the most of the top ten coins. ADA is up 8.5% again to hit a new all-time high of almost $ 2.9.
Binance Coin, which recently lost its position as the third largest crypto to ADA, is trying to catch up. A 7% increase has driven the BNB to its own three-month high of over $ 480.
Ripple (2.5%), Dogecoin (1%), Polkadot (0.5%), Uniswap (2%) and Chainlink (2%) also saw small gains. Solana is the only one in red among the top 10 coins with a 3% retracement.
Overview of the cryptocurrency market. Source: Quantify Crypto
Telcoin (25%), Nano (18%), Amp (18%), Dash (17%), Avalanche (13%), ICON (12%) and Ravencoin (10%) are also representatives of the double-digit price increase club.
The crypto market capitalization also set a record for several months. The metric rose about $ 100 billion to over $ 2.150 trillion in one day.
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TradingView’s cryptocurrency charts.
