Bitcoin’s recent price dip seems to be short-lived, as the asset spiked to and beyond $29,000 earlier today.
Most altcoins are with minor losses today, with XRP finally halting its massive rally by charting a 5.5% daily drop.
Bitcoin Eyes $29K
The primary cryptocurrency was on a notable roll lately before the US CFTC’s lawsuit against Binance, and Changpeng Zhao directly paused it. As a result, the asset fell from over $28,000 to under $26,500 in a matter of hours on Monday.
However, this price dip didn’t last long, and BTC started regaining value in the following days. It spiked to above $28,000 yesterday and even initiated another leg-up that drove it to just above $29,000 earlier today.
Nevertheless, the bears stepped up at this point and didn’t allow any further price increases. Just the opposite, BTC has returned below $29,000 as of now, but it still stands slightly in the green on a daily scale.
As such, its market capitalization has remained inches above $550 billion, while its dominance over the altcoins keeps rising and currently sits at 46.6%.
ARB Back in Green
One of the most anticipated airdrops in the crypto community took place last week when Arbitrum distributed its brand-new native token – ARB. Naturally, the asset faced extreme volatility in its first few days of trading before settling around $1.3. However, a 10% surge on a daily scale has pushed it to over $1.4 as of now, making it one of the best performers now.
HBAR and ALGO are the other two impressive gainers from the mid-cap alts. In contrast, the landscape with the larger caps seems a lot different. Ripple’s XRP, which soared by over 60% at one point in the past week, is now down by 5.5%. Yet, the asset still trades above $0.5.
Ethereum, Binance Coin, Cardano, Dogecoin, MATIC, Solana, Polkadot, Litecoin, and Shiba Inu are also well in the red now.
The total crypto market cap has slipped below $1.2 trillion after losing just over $15 billion daily.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
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.
Credit: Source link
