After charting a $3,000 surge in a day, BTC continued slightly upwards again in the past 24 hours and reached a weekly high at approximately $33,000. Most alternative coins are in the green as well, with ETH nearing $2,100 and Polkadot registering a 7% increase.
After the Monday crash in which the primary cryptocurrency dumped below $30,000, the bulls have kept complete control over the market. They firstly pushed the asset above that coveted level before positive news coming from Elon Musk propelled another leg up.
As reported, the CEO of Tesla and SpaceX said he personally owns BTC, ETH, and DOGE, and two of the companies he runs also hold bitcoin. As result, BTC went on a tear and exploded by more than $3,000 in just a day.
After a brief retracement, the bulls drove the asset north again hours ago, and it went to just shy of $33,000 (on Bitstamp). This became its highest price line since July 15th.
Consequently, bitcoin’s market capitalization has remained above $600 billion, but its dominance has declined slightly to 45.5% as some altcoins have outperformed it in the past 24 hours.
The alternative coins also went through a similar roller-coaster since the start of the week. The largest one, Ethereum, dumped to just over $1,700 on Monday. However, it has also reacted well and has added more than $400 of value in the following few days. Earlier today, it charted an 11-day high of almost $2,100.
Binance Coin, Cardano, Dogecoin, Bitcoin Cash, and Litecoin have marked minor gains since yesterday. Ripple and Solana are up by 3% each to $0.6 and $28, respectively.
However, Polkadot and Uniswap are the best performers from the top ten. UNI has jumped by 6%, while DOT is up by almost 7%. As a result, UNI trades above $17.5, while DOT is north of $13.
Axie Infinity has seen the most impressive increase on a 24-hour scale again, with a 27% surge to above $30, which is its newest all-time high. Flow (11%), Telcoin (10%), SushiSwap (10%), Waves (9%), Curve DAO Token (8%), and Compound (8%) follow.
Ultimately, the crypto market cap has increased to about $1.340 billion. This means that the metric has added more than $230 billion since Monday.
