These Are This Week’s Top Performers While Bitcoin (BTC) Neared $40K (Weekend Watch)



Bitcoin’s price initiated another leg up in the late hours of Saturday and jumped to its highest level in over a year and a half at almost $40,000.

Ethereum and Chainlink are among the best-performing larger-cap alts on a daily scale, with ETH standing above $2,150 and LINK trading north of $16.

BTC Neared $40K

It was less than a week ago – on Monday and Tuesday – when the primary cryptocurrency’s price performance was quite sluggish and underwhelming. The asset had dipped below $37,000 on a few occasions at that point, but then the bulls came out to play.

They pushed BTC north hard and it had added more than a grand within a day. After failing to overcome the $38,000 mark on its first attempt and trading below it mid-week, the cryptocurrency went on the offensive once more at the end of it.

This time, the bulls were more persistent and drove bitcoin to nearly $39,000 on Friday. Saturday started on a calmer note, but BTC spiked by another grand in the late hours and to just under $40,000 on several exchanges, leaving millions in liquidations.

As of now, bitcoin trades around $500 away from the $40,000 level. Its market capitalization has risen to over $770 billion, while its dominance over the alts stands still at 52%.

BTCUSD. Source: TradingView

LINK Keeps Pumping, ETH Follows

Chainlink was the top-performing larger-cap altcoin yesterday, with a surge past $15 following a 7% daily increase. LINK has continued its run in the past 24 hours, albeit in a more modest fashion. The asset is up by 2.5% and trades above $16 now.

Ethereum is the other notable gainer from the larger caps. ETH has jumped by 3% and sits above $2,150. XRP, SOL, ADA, DOGE, TON, and DOT are slightly in the green, while BNB, TRX, and AVAX have posted insignificant losses on a daily scale.

The weekly scale is quite different, though. Two of the Terra ecosystem tokens – USTC and LUNC – have skyrocketed by triple digits. In the case of USTC, the surge is by 272%.

The total crypto market cap has added around $20 billion overnight and stands close to $1.5 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.



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