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    Home » Market Updates » Green May: Bitcoin Soars Above $58K, ETH & BNB New ATHs

    Green May: Bitcoin Soars Above $58K, ETH & BNB New ATHs

    Author: Jordan Lyanchev

    Last Updated May 2, 2021 @ 06:44

    The crypto market cap has expanded by $170 billion in two days as bitcoin surged above $58K. BNB and ETH marked new ATH records.

    Following several days of consolidation around and beneath $55,000, bitcoin finally made a move and jumped above $58,000. Despite new records for Ethereum and Binance Coin, BTC actually managed to reclaim some of its recently lost market dominance.

    Bitcoin Adds $6K in Two Days

    While the altcoin market was producing impressive price pumps lately, bitcoin seemed stalled at best. The primary cryptocurrency had recovered from its April slumps that drove it below $50,000 but had failed to increase any higher than $55,000.

    The bears used BTC’s inability to breakout and pushed it south again to about $52,000 on April 29th. Since then, though, the trend reversed, and bitcoin recovered a few thousand dollars in hours.

    Consequently, the asset traded around $54,000 before it finally made a notable move upwards. In a matter of hours, the cryptocurrency surged by about $4,500 and reached its highest price tag since the market crash on April 18th.

    On its way up, bitcoin’s market cap solidified its position well above $1 trillion. Additionally, BTC recovered roughly 1% of its recently lost market dominance which is now up to 49%.

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    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    New ATHs for BNB and ETH

    As mentioned above, most alternative coins have been on a roll lately, perhaps none more impressive than the second-largest cryptocurrency. Ethereum has marked consecutive new records in the past week or so, and it doubled down on this tradition.

    In the past 24 hours, ETH spiked to its latest ATH of just over $2,870 (on Bitstamp). Similar development befell the third-largest crypto – Binance Coin. BNB flirted with $600 yesterday but jumped with over $40 in hours to a new record of about $645 (on Binance).

    Ripple (4%), Polkadot (1.5%), and Bitcoin Cash (12%) are also in the green from the top ten. Nevertheless, Dogecoin is the most impressive performer with a 15% surge. As a result, DOGE trades north of $0.35.

    Cryptocurrency Market Overview. Source: coin360.com
    Cryptocurrency Market Overview. Source: coin360.com

    Further gains come from DigiByte (29%), Avalanche (22%), SwissBorg (17%), OKB (17%), Ren (15%), Compound (15%), Ethereum Classic (13%), Bitcoin SV (12%), Fantom (12%), and Reserve Rights (10%).

    Ultimately, the cumulative market capitalization has added $170 billion in two days and is well above $2 trillion.

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    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.
    Tags: Binance Coin (BNB) Price Bitcoin (BTC) Price Ethereum (ETH) Price
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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    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. Full disclaimer
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