A crash last week lowered the price of by 10% in one day. Doom and darkness. This week everything is different: The Crypto The markets are sailing to greener pastures and Bitcoin is rising, although its dominance over the market has fallen to a seven-month low.
Bitcoin’s price is now more or less back to where it left off before the crash. While it can’t quite hit the all-time high of $ 61,684 set three weeks ago, it currently stands at $ 59,668.
Bitcoin’s market dominance, however, is at a seven-month low. At the turn of the year, Bitcoin dominated 72% of the market. The coin’s power has been in free fall, however, and dominance has since declined to 58.47%. Dominance assesses how the market capitalization of a particular currency compares to the total market capitalization of tradable cryptocurrencies.
Bitcoin is an NPC today
All of this means that Bitcoin is no longer the focus.
To take , the second largest cryptocurrency by market capitalization. Ethereum finally managed to surpass $ 2,000 yesterday and even hit a new all-time high. It was certainly one to see this year. On February 20, it briefly exceeded $ 2,000 and reached $ 2,036. It then withdrew and did not cross the threshold for over a month. It finally succeeded again yesterday, and shortly after midnight, Ethereum hit its highest price ever at $ 2,152. As of this writing, it’s pulled back a little and is currently trading at a price of $ 2,113.
However, the most monumental overnight price gains in the top 20 cryptocurrencies by market capitalization were achieved by , , , and Bit torrent.
Speckle is up more than 20% today and is trading at a price of $ 46. This is the biggest overnight increase of any top 10 cryptocurrency. The bump comes three days later CEO Jesse Powell said he believesPolkadot could top Ethereum with its cheaper transaction Fees. Considering Ethereum’s average transaction fee, went from $ 13 to $ 22 Due to increased demand, Powell can have a point in a single day.
And Chain link is up 6% to trade at $ 32.44 while Uniswap is up nearly 8% as it trades at $ 31.42. A comparable overnight gain was achieved by XRP, which rose almost 7% to a price of USD 0.063. By market cap, XRP is now worth more than it was before it was hit by a $ 1.3 billion lawsuit filed by the United States Securities and Exchange Commission alleging his ancestor Labs distributed it as unregistered security.
Finally, the BitTorrent token (BTT) hit its ATH of $ 0.00778 just under an hour ago at 11:39 a.m. UTC. It has grown 30% since yesterday around this time and has seen a 91% price increase since that time last weekend.
Looks like the old season is back.
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