Author:
While bitcoin remains somewhat calm in a range between $35,500 and $37,500, some alternative coins have stepped up and reduced BTC’s dominance even more. These include BNB reclaiming its 4th spot as the largest digital asset and a double-digit surge for DOGE following a Coinbase Pro listing.
BNB Takes Back 4th; ETH Challenges $2.7K
Most of the altcoin market didn’t perform all that well in the past several days, but the trend started to change on Monday. Ethereum is a prime example as it dipped below $2,200 on Sunday but has spiked by more than $500 since then. As a result, ETH currently flirts with the $2,700 line.
Binance Coin also went through a roller-coaster by falling beneath $300 on Sunday. BNB even lost its position as the fourth-largest digital asset to ADA but has reclaimed it in the past 24 hours as it has spiked to over $375. The latest surge may be attributed to the hype around the new token on Binance Launchpool – Automata (ATA).
Cardano (4%), Polkadot (6%), Uniswap (2.5%), Chainlink (2%), and Bitcoin Cash (1%) are also in the green. Interestingly, DOGE is the most significant gainer since yesterday, with an 18% surge following a listing on Coinbase Pro.
Further increases are evident from Curve DAO Token (21%), Mdex (15%), Zilliqa (14%), LEO (12%), Kusama (10%), and 0x (10%).
The cumulative market cap of all crypto assets has increased by around $40 billion and is close to reclaiming $1.7 trillion.
Bitcoin Stuck in a Range
While some alternative coins are heading higher lately, bitcoin seems somewhat stuck. The primary cryptocurrency also dipped hard on Sunday but recovered $4,000 relatively quickly to a three-day high at $38,000.
However, the bears didn’t allow any further increases and pushed the asset south. In a matter of hours, BTC lost more than $2,000 of value. Since then, it has bounced up and down with similar price movements.
As of writing these lines, bitcoin stands at just over $37,000, with its market cap at around $700 billion. Nevertheless, the altcoins have further decreased BTC’s dominance to below 42%.
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
