Bitcoin Consolidation Continues: BNB Crossed $100B Cap Nearing ATH (Market Watch)
Bitcoin’s indecisive price movements have continued in the past 24 hours, with the cryptocurrency staying above $60,000. Binance Coin has been among the best performers from the larger-cap alts as the asset has neared its ATH.
BNB Eyes New ATH; AVAX Up 12%
Most alternative coins were slightly in the red yesterday, as reported, but the landscape is relatively different today. Ethereum had fallen below $4,500, but a minor 2% increase on a 24-hour scale has driven the second-largest cryptocurrency to above that level.
Solana has touched $250 after a similar price pump. Polkadot has marked another all-time high after a 5% surge since yesterday. Dogecoin, Ripple, and Terra are also in the green.
Avalanche has gained the most from yesterday and also saw a new record above $85.
Binance Coin, on the other hand, has performed well in the past several days. Another 8% increase in a day has driven BNB to $670, which is the highest price level since mid-May. The asset is just inches away from marking a new ATH of its own, while its market capitalization has risen well above $100 billion.
Further gains come from Kadena (50%), Helium (18%), OKB (10%), Chiliz (10%), and Loopring (9%).As such, the crypto market cap has added about $40 billion since yesterday and is close to $2.750 trillion.
Bitcoin’s Consolidation Continues
While some alternative coins have registered impressive gains and new all-time high records, bitcoin has been relatively calm in the past week, especially since it started retracing from the mid-week peak at $64,000.
The cryptocurrency fell to $60,000 shortly after when inflation news emerged from the US but recovered just as quickly. It has remained in a range between that coveted level and $63,000 for the most part, and even the controversial US infrastructure bill passing in Congress couldn’t move it a lot.
After an unsuccessful attempt to overcome $62,500, BTC has returned below $62,000 once more. Its market capitalization has reclaimed $1.150 trillion, while the dominance over the alts has been further reduced to just over 42%.Source