BNB takes back fourth place from Sol with 12% gain, BSV surges 60% (Market Watch)
BNB has finally caught up with the recent altcoin rally, rising by 12% to hit $330.
While Bitcoin has risen slightly over the past 24 hours, even approaching $44,000, a number of altcoins have outperformed it and reduced its market dominance by roughly half a percentage point in a single day.
Bitcoin SV is the most notable winner, followed by Arbitrum, Aave, Lido DAO, Optimism and many others.
overwhelming
Binance Coin was the biggest gainer among large-cap stocks, rising as much as 12%, pushing its price to $330. Additionally, SOL fell by more than 6% in the same time frame, allowing BNB to regain its recently lost fourth position by market capitalization.
Cardano surged 9% today, trading above $0.65. Ethereum, on the other hand, is now up 6% and approaching the $2,400 altcoin rally after failing to decisively break above that level earlier today. Chainlink (14%), Uniswap (10%), Bitcoin Cash (11%), and ICP (7%) were other impressive gainers among the large-cap alts.
In comparison, Avalanche, Polkadot, MATIC and Toncoin are in the red.
The biggest price surge among the top 100 alts came from Bitcoin SV. BSV has surged 60% and is now trading above $90. Australia, AAVE, LDO, Spain and XDC followed, with gains between 15-20%.
The total market capitalization of the crypto market is increasing by more than $40 billion every day, with CMC’s market capitalization approaching $1.7 trillion.
Bitcoin Stops Before $44K
The major cryptocurrencies got off to a rough start to the week. The price hovered around $43,000 over the weekend, but fell to $42,500 on Monday and fell further to a weekly low of $41,600 on Tuesday.
However, this is where bulls come into play. They pushed the asset price down over the next few days, peaking earlier today with prices surging as high as $43,800. As they prepared for another round, things changed and BTC was back around $1,000.
Despite gaining 1% on the day and currently trading just above $43,000, BTC’s market dominance has taken a major blow, falling 0.5% in a day to just under 50%.However, its market capitalization has rebounded to over $840 billion.
