Bitcoin continues its recovery attempts by touching $59,000, while most of the altcoins have remained stagnant since yesterday. Avalanche is once again the most significant gainer. AVAX charted a new all-time high (again) and is close to surpassing Dogecoin in terms of market cap.
Most altcoins plummeted in value in the past week or so and tried to bounce off yesterday. Ethereum, for example, went below $4,000 for the first time in over a month shortly after registering its latest ATH of nearly $4,900. However, ETH is now well above $4,300.
On a 24-hour scale, most larger-cap alts have stalled. Binance Coin, Solana, Cardano, Ripple, Polkadot, and Dogecoin are slightly in the red, while Terra is around 0.3% up.
Shiba Inu has lost the most value (-6%) and now sits at $0.000046. In contrast, Avalanche and CryptoCom’s token have gained the most.
AVAX is arguably the best performer in the past several days and continues to register consecutive all-time highs. The latest one came at $138, according to CoinGecko. Moreover, AVAX is now inches away from surpassing Dogecoin as the 10th-largest cryptocurrency by market cap.
CRO surged by 12% in a day and now trades above $0.62. This comes after impressive partnerships announced by the exchange in the past month.
More gains come from Gala (33%), Oasis Network (20%), Arweave (15%), Harmony (13%), and Elrond (10%).
The cryptocurrency market cap is up by around $50 billion in a day and has neared $2.8 trillion on CoinGecko.
Bitcoin was losing value for several consecutive days. Ever since it painted its latest ATH at $69,000, the bears pushed it south, which culminated in a drop below $56,000 on Friday. Interestingly, this became the lowest price point in over a month.
However, the cryptocurrency reacted well to that dip. As reported yesterday, it bounced off and added almost $3,000. After reclaiming $58,000, it kept climbing and neared $60,000 hours ago.
As of now, it has retraced slightly and stands around $59,000. Its market capitalization has exceeded $1.1 trillion once more, but the dominance over the altcoins has declined slightly to just over 42%.
