While bitcoin continues to trade around $46,000, some altcoins, such as Tezos (XTZ), posted impressive daily increases.
Bitcoin continued to consolidate over the past 24 hours as it failed to decisively breach $47,000 and went back to $46,000. Most of the alternative currencies were redone in the same period. Tezos is among the few exceptions, as the asset increased 25% in one day.
Altcoin correction
The past few days have been highly volatile for cryptocurrency space. Ethereum went from over $4,000 to just over $3,000 during Tuesday’s market crash. Since then, however, ETH has been trying to recover most of its value. It went from $3,500 yesterday, but a 3.5% drop took it back to around $3,400.
Cardano, whose network is gearing up for the next hard fork, has fallen by a similar percentage over the past 24% and is below $2.5 now. More identical drops come from Ripple, Dogecoin, Chainlink, Bitcoin Cash, Uniswap and Litecoin.
Interestingly, Solana, which recorded another all-time high above $200 yesterday, dropped 13 percent in one day to $185.
Polkadot and Terra are the only two big green alts. DOT rose 6% to $31, while LUNA rose 8% and trades at $33.
Bitcoin is still worth $46K
The primary cryptocurrency also went through a roller coaster this week. It gradually rose to $53,000 – a four-month high – before suddenly dropping $10,000 in hours and reaching $43,000 on Tuesday.
He recovered and recovered several thousand dollars very quickly. As such, it remained around $46,000 during most of yesterday’s trading session. He tried to challenge $47,000 and even briefly crossed that level, but the bears came back and took him south once more.
As of now, BTC is still at a family level – north of $46,000. Its market capitalization is $870 billion, while dominance over altcoins has increased slightly to 41.5%.
Source: cryptopotate
