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October 5, 2022
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Altcoin

BNB exceeds ATH above US $ 50, ETH recovers US $ 1,400

BNB reached a new price record – above $ 50, ETH approaching ATH levels.

Despite another attempt to top $ 35,000, bitcoin continued to trade within the narrow $ 33,000 to $ 35,000 range.

In contrast, large-capped altcoins, along with some DeFi “stars,” performed much better. This includes a new ATH for Binance Coin, Ethereum rising above $ 1400, coming close to the previous January 2018 ATH range. On the other hand, XRP plummeted after recent earnings.

Binance Coin exceeds $ 50 for new ATH

Most of the large-cap altcoin market has been well on the green against the dollar for the past 24 hours. This comes after a ‘dry’ weekend with small price changes.

Ethereum added 8% to its value and rose to around $ 1,400. Thus, the second largest crypto came just inches from its all-time record region – $ 1440 – set for January 2018. Despite an increase to $ 1480 last January, ETH is still struggling to break its ATH previous.

Chainlink (5%), Bitcoin Cash (3%), Polkadot (2%) and Litecoin (5%) are also in the green in the top ten.

Binance Coin had a triumphant return among the top ten currencies, after a 10% daily increase. Previously, BNB even set a new record of more than $ 52 (according to Binance).

However, Cardano’s performance outperformed all other large-capped altcoins with an increase of 23%. Consequently, the price of the ADA increased to $ 0.42.

On the low side, Ripple is the most significant loser. After a few days of increase after the company’s response to the SEC’s accusations, or a coordinated bomb, the XRP plummeted 40% to $ 0.35.

Further gains are evident with low and medium capitalization altcoins, especially among DeFi. FunFair leads with an increase of 50%, followed by Band Protocol (34%), Terra (30%) and SushiSwap (30%). In addition, Sushi has risen 70% on a weekly scale and is trading at $ 13.

These gains helped total market capitalization to keep its value above the coveted $ 1 trillion mark.

Bitcoin stops at around $ 34,000 again

Although altcoins have shown impressive fluctuations, their leader appears to be stuck in a range between $ 33K and $ 35K. After last week’s highly volatile end, when the BTC exhibited $ 6,000 moves in both directions, the asset calmed down over the weekend.

In the past 24 hours, bitcoin has tried to top $ 35,000 again, but to no avail. Instead, the rejection took the asset to an intraday low of about $ 33,000.

However, the cryptocurrency recovered $ 34,000 in the following hours and is currently trading above that.

As expected, top performing altcoins continue to undermine bitcoin’s dominance over the market, and the metric has dropped to 62%. For comparison, it increased to over 65% on Friday.

BNB exceeds ATH above US $ 50, ETH recovers US $ 1,400 22

Source: CryptoPotato

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