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December 5, 2022
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Guide & Analysis

Bitcoin remains stable while Solana surpasses US$ 200 and sets a new record

Crypto market capitalization earns $200 billion in two days as most altcoins are in the green. Solana broke over $200 to set a new ATH.

After increasing volatility and massively falling prices, bitcoin stabilized at around $46,000. Most altcoins are also showing early signs of recovery, with impressive double-digit price increases.

Bitcoin soothes around $46K

The past few days have reminded us of the volatile nature of BTC. The primary cryptocurrency finally passed $50,000 and continued to climb to new highs of several months. The last one came just two days ago, with $53,000.

The so-called Bitcoin Day, in which the asset became officially legal tender in El Salvador, brought only pain to the bulls. In a matter of hours, the BTC dropped more than $10,000 in some violent sails.

This culminated in a drop to less than $43,000. Since then, bitcoin has regained some ground and calmed about $46,000. Its market capitalization is still well below $900 billion, after nearly reaching $1 trillion two days ago.

In addition, bitcoin market dominance also declined to 41% as most alternative currencies recovered quite well in one day.

Altcoin recovery session as SOL surpasses US$ 200

Altcoins suffered even more than their leader during the fall. Now, however, most have surpassed the BTC.

Ethereum dropped to less than $3,100 on Tuesday, just days after surpassing $4,000. A 7.5% increase in the last 24 hours has taken the second-largest cryptocurrency to over $3,500 as of now.

Cardano, whose network was criticized recently, rose 13 percent in one day to $2.6. Binance Coin (6%), Dogecoin (6%), Ripple (6%), Polkadot (11%), Bitcoin Cash (3%), Chainlink (9%) and Uniswap (9%) are also right in the green.

It is important to note, however, that Solana outperformed all other large companies. SOL exploded 35% in one day, broke above $200 for the first time to define a new ATH, and surpassed XRP in terms of market capitalization earlier today.

Bitcoin remains stable while Solana surpasses US$ 200 and sets a new record 23

Even more gains come from the NEAR protocol (45%), IOST (40%), Hedera Hashgraph (37%), Fantom (35%), Raydium (35%), Mina (33%), Elrond (33%) and a lot most.

As a result, cryptography’s market capitalization has recovered about $200 billion since Tuesday’s low and stands at $2,150 trillion.

Source: CryptoPotato

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