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August 9, 2022
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Ripple rises 17% when Bitcoin encounters problems at 57K

Bitcoin continues to suffer below the coveted $ 60,000 and is about three thousand dollars below after another fall. As such, its dominance has further decreased, as some altcoins have made serious gains. Ripple (XRP) leads the largest capacity package with a 17% daily increase to just $ 0.70.

XRP leads the way for Altcoin

The past few days have been somewhat stagnant for the most capitalized altcoins, as most have failed to exhibit any significant price movements. The situation is relatively similar in the past 24 hours.

Ethereum remained just over $ 2,000, Binance Coin is over $ 350, Polkadot is over $ 43 and Cardano has stagnated around $ 1.18. On the other hand, Uniswap, Litecoin and Chainlink showed smaller gains.

However, Ripple surpassed all ten major altcoins. The payment processor’s native digital token, XRP, increased by about 17% to more than $ 0.68. This is the highest price the asset has seen since the beginning of February, when it rose above $ 0.70 briefly.

Overview of the cryptocurrency market. Source: Quantify Crypto

As expected, medium and low capitalization altcoins are even more fluctuating. WazirX leads with a massive increase of 220% in one day and an increase of more than 1,000% in a week to $ 5.50.

BitTorrent is next with a daily increase of 60% and weekly pumping of 250% to $ 0.012. Batteries (55%), Flow (36%), TRON (20%), Dent (20%), OMG Network (19%), Zilliqa (17%), Siacoin (15%) and Holo (14%) are Next .

Bitcoin fights for $ 57K, reduced dominance

The primary cryptocurrency has repeatedly failed to exceed $ 60,000. According reported previously by CryptoPotato, bitcoin has initiated several of these attempts, but without success so far.

The latter caused the asset to fall by $ 3,500, as BTC has not yet recovered from this sharp drop in prices. In the past 24 hours, bitcoin has reached a daily high of $ 58,500, but has fallen again and is currently struggling to stay above $ 57,000.

BTC’s indecision gave alts an opportunity to further reduce its dominance over the market. The metric that compares bitcoin’s market capitalization with all other crypto assets has dropped to 56%, according to CoinMarketCap. Just a few weeks ago, it was well over 60%.

Source: CryptoPotato

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