Over the weekend, while the price of bitcoin and several larger-cap alts remained slow, others like SOL, AVAX, and DOT continued to surge.
BTC Stalls at $37K
In the cryptocurrency market, a lot can change within a week. On Tuesday, the primary digital asset fell to $34,500 after failing to overcome the $35,000 level despite a few attempts.
However, the bulls took charge and drove BTC north hard. Two days later, the asset shot up to $38,000 for the first time in a year and a half. It was violently rejected there and dumped by over two grand within hours.
Nevertheless, it bounced off and spiked to $37,500 yesterday. It has been unable to maintain its run since then, but it still trades above $37,000 as of now.
This means that its market capitalization is still above $725 billion, but its dominance over the alts has taken one more hit and is down to 51% on CMC.
SOL, AVAX on a Roll
Solanaβs native cryptocurrency has been among the top performers lately. The past 24 hours have only solidified this, as the asset has soared by another 10%. On a weekly scale, SOL is up by more than 40% and trades close to a multi-month peak of its own at $60.
AVAXβs price performance on a daily scale is in a league of its own, though. Avalanche has soared by 30% and currently trades above $18.
Chainlink, Polkadot, Aptos, Near, and RUNE have all registered impressive gains. In the case of RUNE, the daily surge is by 25%.
The total crypto market cap has added around $20 billion daily and stands well above $1.4 trillion on CMC.
Hot Take: Cryptocurrency Market Update
Bitcoin’s price remains relatively stable while other altcoins such as SOL and AVAX continue to surge. The crypto market is experiencing rapid changes with BTC’s dominance over alts taking another hit. Solana’s native cryptocurrency has seen significant growth in both daily and weekly scales. Additionally, Avalanche’s price performance is also noteworthy with a 30% surge. Overall, the total crypto market cap has added around $20 billion daily and stands well above $1.4 trillion on CMC.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen’s contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.
