Bitcoin bulls have resumed their onslaught in the last 24 hours, with the commodity reaching a new 2-month high of more than $42,500. Most alternative coins have surpassed the market leader, including ETH, BNB, and DOT, which has increased by more than 16 percent in a single day.
Green Altcoins; DOT Increases Value by 16%
Yesterday, altcoins were pretty stable, but the situation has changed dramatically today. Ethereum was trading about $2,450, but a 6% gain has pushed it to over $2,600. Furthermore, ETH touched $2,650 earlier today, its highest price since June 15th.
With all of the major cryptocurrency exchange regulatory issues, Binance Coin’s performance has been fairly lackluster recently. However, BNB has increased by 7% in a single day and has surpassed $340 for the first time since June.
Cardano (5%), Ripple (3.5%), Dogecoin (3.5%), Uniswap (5%), Bitcoin Cash (2%), Chainlink (6.5%), and Litecoin (3.5%) are also performing nicely. Polkadot is the most significant gainer among the larger cap alts, up 16 percent. As a result, DOT is currently trading much above $18.
From the top 100 coins, Siacoin has added the greatest value. SC has dropped to roughly $0.02 as a result of a 37% pump. Quant (27%), IOTA (19%), Ankr (16%), Basic Attention Token (15%), DigiByte (13%), OKB (12%), Filecoin (11%), and Solana (10%) all follow suit.
As a result, the total market capitalization of all crypto assets has risen to $1.660 trillion. This indicates that the metric has increased by $40 billion in a single day and by $140 billion in two days.
Bitcoin has reached $42.5K.
After effectively bouncing back from the sub-$30,000 price slump, the major cryptocurrency has led the charge in the last week or so. It has gained more than $10,000 since then and has continued to rise, as reported yesterday.
It achieved its highest price since the mid-May crash of $42,300 (on Bitstamp), but a new two-month high of $42,700 was set just hours ago.
BTC has already retraced approximately $1,000, and its market capitalization is just shy of $800 billion. However, its market dominance has reduced by approximately 1% in a single day as other coins have surged.