Ethereum (ETH) Surges to a 2-Week High as Bitcoin Surpasses $35K (Market Watch)
Bitcoin’s weekend struggles seem to be nowhere near as the cryptocurrency initiated another leg up and reclaimed $35,000. Most of the altcoins have charted gains as well, with Ethereum jumping above $2,300 for the first time since mid-June.
Bitcoin Reconquers $35K
After the volatile week in which BTC reached a multi-day high of $36,600 and then retraced to below $33,000, all eyes were on the weekend as recent history showed that the asset tends to head south when the workweek is over.
However, the trend reversed this time as bitcoin actually started to reclaim some lost ground and jumped above $34,000. Since then, the bulls have kept control and prompted another leg up that brought the primary cryptocurrency to above $35,000 for the first time since Tuesday.
As of writing these lines, BTC is trading near $35,500, and its market capitalization has increased to well above $650 billion.
On the other hand, the dominance over the altcoins has remained above 45%.
Ethereum to a 2W High as Alts in Green
The alternative coins are also enjoying the weekend so far, with Ethereum being the prime example. The second-largest crypto is up by another 5%, which has brought it to $2,330. This is the highest price line ETH has seen since June 18th.
Binance Coin has reconquered a round-numbered milestone after a 5% increase as well. Consequently, BNB now trades at above $300.
Cardano (4%), Doge (1.5%), Ripple (3.5%), Polkadot (2.5%), and Bitcoin Cash (3.5%) are also well in the green. Uniswap and Solana are the most impressive gainers from the larger-cap altcoins.
UNI is up by 5.2%, while SOL has jumped by 6% to over $20 and $35, respectively.
More gains come from lower- and mid-cap altcoins, with Celsius and Aave leading the pack. Both have increased by about 16%.
The Graph (15%), Elron (14%), THORChain (12%), Compound (12%), ICP (10%), OMG Network (10%), and Synthetix (10%) complete the double-digit price pump club.
The market capitalization of all cryptocurrency assets has increased by roughly $60 billion since yesterday and is close to $1.5 trillion.Source