Bitcoin Consolidation Continues, Solana Soars 10% to a 2-Month High (Market Watch)


Bitcoin continues with its rather calm performance in the past few days and stands above $47,000. While most altcoins are also stagnant, others, such as Solana and Avalanche, have marked substantial gains on a daily scale.

SOL and AVAX Lead the Alt Way

Ethereum is among the calm altcoins with a minor daily increase that has helped the second-largest cryptocurrency reclaim $3,400. It’s worth noting that ETH struggled below $3,000 just over a week ago, but ever since it jumped above that level hasn’t looked back.

Binance Coin is also slightly in the green now and sits at $445. Ripple, Cardano, Polkadot, Dogecoin, Shiba Inu, and CRO have produced minor price appreciations.

Although Terra is up by less than 2% on a daily scale as well, the asset actually charted a fresh all-time high – just under $110.

Avalanche and Solana are the most impressive performers from the larger-cap alts. AVAX is up by 8% and sits at $100, while SOL soared by 10% and trades north of $120.

More gains are evident from lower- and mid-cap alts, including IOST (42%), Zilliqa (25%), Theta Fuel (16%), IoTeX (13%), TRON (11%), and Enjin Coin (11%).

The crypto market cap is up by around $30 billion since yesterday and sits at $2.150 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin Stalls at $47K

The primary cryptocurrency experienced one of its most substantial price surges in the past few months on Monday when it soared from $45,000 to over $48,000 in hours. This came after weeks of being unable to break above $45,000.

Related:  Banking Titan Citi Says Ethereum Merge Could Boost Crypto Exchange Coinbase Stock Price: Report

Briefly exceeding $48,000 meant charting its highest price level since January 2 this year. Since then, though, the asset fell by a few hundred dollars and has been unable to remain above $48,000.

Just the opposite, it even dipped beneath $47,000 twice in the past two days. As of now, BTC trades above that level, but its market cap has slipped to just under $900 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

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.


Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: