Bitcoin managed to stay above $20,000 despite the recent volatility. Some altcoins, though, are on the offensive with impressive gains.
MATIC has continued its run for the past few days with another massive daily surge. XRP is also well in the green, as is OKB.
Ethereum has neared $1,600 once more, following a 2% daily increase. Binance Coin, on the other hand, continues to perform well and has tapped a new multi-month high above $350 after a 4% surge.
Ripple is the best performer from the top 10 largest digital assets. XRP is up by 9% in the past 24 hours and touched $0.5 earlier today.
However, MATIC has stolen the show once again. The asset has skyrocketed by another 16% and has jumped to well above $1. Here are some of the possible reasons behind MATIC’s recent run.
OKB is another notable gainer. It soared by 23% and trades north of $20 for the first time in several months.
In contrast, Dogecoin is deep in the red, with a 9% daily decline. This comes amid reports that Twitter had paused its plans to develop a crypto wallet.
The cumulative market cap of all crypto assets is up to $1.030 trillion on CoinMarketCap, as several other altcoins have charted impressive gains.
The primary cryptocurrency charted a multi-week high last weekend when it pumped to over $21,000. However, that was short-lived, and the bears pushed it back down to around $20,500.
The next few days were quite calm, but the situation was expected to change on Wednesday during the latest FOMC meeting. Although the Fed raised the interest rates by 75 basis points (as expected), BTC went on rollercoaster once again.
It jumped to $20,800 at first before it slumped to $20,000. The bulls stepped up at this point and didn’t allow a price drop under that coveted level. As of now, the asset stands in the middle of its familiar range.
Its market capitalization stands close to $400 billion, but its dominance over the alts has taken another hit. The metric is down to 38.4%, meaning that it has declined by over 1.5% in the past few weeks.
