BTC Holds Steady Below $52K
After a series of consecutive increases, the price of BTC has stabilized just below $52,000. While BTC remains steady, some altcoins have seen significant gains. BNB has surpassed $350 and UNI has gained over 7% in value following a recent announcement by the Uniswap team.
UNI Takes the Lead
Uniswap’s native cryptocurrency, UNI, has responded positively to the announcement of the V4 launch details, despite concerns about the hooks. UNI has experienced a 7% jump in value and is now trading at $7.5. Other notable gainers among larger-cap altcoins include Binance Coin, Ripple, Cardano, and Polygon.
Retracements for Solana and Avalanche
Solana and Avalanche have experienced retracements of approximately 4% in contrast to other altcoins. Solana is now priced at $110 and Avalanche at $40.
Total Crypto Market Cap Maintains Above $2 Trillion
Despite some retracements among mid- and lower-cap altcoins, the total crypto market cap remains above $2 trillion on CoinGecko.
BTC’s Positive Performance
In the past ten days, BTC has shown positive performance with an increase of almost $10,000 in value. Starting from February 9, BTC broke out of the $43,000 range and continued to rise by approximately $2,000 per day. By the end of that week, BTC was trading above $48,000.
A Minor Retracement for BTC
This week began with BTC surpassing $50,000 on Monday. Although there was a minor retracement, BTC experienced another surge, pushing its price above $51,000 and even $52,000. However, it was unable to challenge the $53,000 line and has since dropped below $52,000 due to a sell-off.
BTC’s Market Cap and Dominance
Despite the retracement, BTC’s market cap remains above $1 trillion. However, its dominance over altcoins has slightly decreased to 49.7 on CoinGecko.
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