Cardano (ADA) Skyrockets 17%, Bitcoin Breaks $17K After 1 Month: Market Watch - ELEVENEWS
Although all altcoins are well in the green, Cardano and Solana have taken the main stage. After weeks and weeks of failing under $17,000, bitcoin finally initiated an impressive leg up that took it well...
Although all altcoins are well in the green, Cardano and Solana have taken the main stage.
After weeks and weeks of failing under $17,000, bitcoin finally initiated an impressive leg up that took it well beyond that line.
The alternative coins have also posted notable gains on a daily scale, led by Cardano, Solana, ApeCoin, and ATOM.
Bitcoin Back Above $17K
The start of the year brought some minor positivity to the BTC bulls as the asset overcame $16,500 and added a few hundred dollars in the first few days. The trend continued until it faced $17,000 on Wednesday and Friday. Both attempts were followed by rejections that pushed bitcoin south.
The weekend was calmer as BTC had recovered some ground and stood inches away from $17,000. The bulls finally have something to cheer for as of now, as bitcoin broke above this coveted level hours ago.
The leg-up pushed the cryptocurrency to a four-week high of just over $17,250. This has pushed BTC’s market capitalization to a local peak of above $330 billion.
However, bitcoin’s dominance over the altcoins has taken a serious hit and is down to 39.1%, as most of them have outperformed it in the past 24 hours.
SOL, ADA Shoot Up
The alternative coins were untypically stagnant in the past few weeks as well, apart from a few exceptions. Today, though, the landscape is entirely different.
The two larger-cap alts at the forefront of the market run are Solana and Cardano. The former has been performing rather well since the start of the year, and a 21% surge in the past 24 hours alone has taken it to a local high of over $16.
Cardano, on the other hand, has soared by 17%, charting a two-month high of over $0.34 hours ago.
A 4% increase has helped Ethereum to reclaim $1,300 for the first time in several weeks. Binance Coin is up by 6% and is north of $275. Ripple, Dogecoin, Polygon, OKB, Litecoin, Polkadot, and Shiba Inu are also well in the green.
With the rest of the lower- and mid-cap alts posting impressive gains, the cumulative market cap of all crypto assets has added $20 billion in a day and is up to $850 billion.
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