Market Watch: Ethereum Breaks ATH and Retrace, Binance Coin Soars 8%
After another day of enhanced volatility, bitcoin touched $63,000 but has retraced with a few thousand dollars since. Ethereum marked another all-time high above $4,400 before correcting as well, while Binance Coin has surged to north of $500.
ETH’s Latest ATH: BNB Up 8%
Ever since BTC tapped its new all-time high last week at $67,000, all eyes in the cryptocurrency community were on the second-largest digital asset whether it could do the same. And it took ETH more than a week, but it finally did it, as reported yesterday.
However, Ethereum wasn’t done at $4,400 and initiated another leg up hours later. This time, the asset went as high as $4,460 (on Bitstamp), which is the newest price record. As of now, though, ETH has slid slightly, but it’s still above $4,300.
Binance Coin is the most significant gainer from the larger-cap altcoins in the past 24 hours. BNB is up by 8% and has surged above $530 for the first time in months.
Minor gains are evident from Ripple, Polkadot, and Terra, while Solana, Dogecoin, Avalanche, and Chainlink are slightly in the red.
The top 100 coins, though, have a new representative, and it comes from the meme coin mania. Dogelon Mars has skyrocketed by 175% in a day and 360% in a week to $0.00000223.
Decentraland (32%), BitTorrent (13%), THORChain (13%), and Tron (10%) have also marked substantial price increases.
The cryptocurrency market capitalization is up by $40 billion since yesterday and is well above $2.6 trillion.
Bitcoin Failed at $63K
The primary cryptocurrency also initiated a leg up in the past 24 hours. After yesterday’s sudden massive price drop to a two-week low of $56,500, bitcoin had recovered and traded above $60,000 for several hours.
It went on the offensive with most of the market and added roughly $2,000. As such, it tapped $63,000 for the first time in several days.
However, it failed to continue upwards. The bears came back to play and pushed it south gradually. As of now, BTC stands at $61,500, but its market capitalization is north of $1.150 trillion.Source