2021-08-16 09:32:07

Doge 16% Up, Solana New ATH After 40% Increase (Market Watch)

After another drop to below $46,000, bitcoin bounced off rather nicely and even tapped $48,000 briefly. However, the alternative coins have registered significantly more notable gains on a 24-hour scale, including a new all-time high for Solana and Dogecoin pumping 16%.

Green In Altland; SOL New ATH

The market-wide retracement on Sunday was short-lived, and the alternative coins are back on the offensive. Ethereum has jumped by about 3.5% in a day and is just shy of $3,300.

Ripple, which was the most substantial gainer yesterday, is also up with a similar percentage. Binance Coin (5.5%), Cardano (5.5%), and Uniswap (6.5%) have painted even more impressive increases.

Dogecoin has surged by about 16% in a day, perhaps fueled by the recent support from world-known billionaires, such as Mark Cuban. As a result, DOGE trades at $0.34.

Polkadot (10%), Chainlink (11%), and MATIC (11%) have seen double-digit pumps as well, while Solana has stolen the show today. SOL has exploded by 40% and registered a new all-time high above $64 earlier.

Cryptocurrency Market Overview. Source: Quantify Crypto

 

More gains are evident from Terra (32%), Harmony (20%), Revain (19%), Fantom (17%), THETA (13%), THORChain (12%), and more.

As such, the cryptocurrency market cap has added about $100 billion since yesterday’s low and is back above $2 trillion.

Bitcoin Touched $48K

The primary cryptocurrency also fell yesterday after several consecutive days of price increases. Just after it exceeded $48,000 for the first time since mid-May, the asset dropped by nearly $3,000.

As a result, it tested $45,500, but the bulls stepped up at this moment and reversed the trajectory. In the following hours, BTC started to gradually recover its value.

It initially spiked above $46,000 before reclaiming $47,000. Bitcoin went as high as $48,000 again, but the subsequent rejection drove it a few hundred dollars south. Nevertheless, BTC still trades above $47,000 as of writing these lines.

Although its market capitalization has neared $900 billion again, the dominance over the altcoins has decreased, somewhat expectedly, to under 44%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

empty message

empty message

empty message

empty message

empty message