Bitcoin’s infamous volatility struck again yesterday as the asset plunged more than $ 4,000 within hours of touching $ 59,000. At the same time, Ethereum, Binance Coin and Dogecoin continue to climb with a new all-time high.
ETH, BNB, DOGE to new highs
The second largest cryptocurrency by market cap has blasted the rest of the market out of the water for the past few weeks by recording consecutive all-time highs almost daily. The past 24 hours have not disappointed the ETH bulls as the asset hit its most recent high of around $ 3,450. Despite tracing at $ 90 since then, Ether is up more than 320% year-to-date.
Another spectacular performer recently is Binance Coin. The world’s leading exchange’s native crypto hit $ 680 yesterday to a new all-time high, and its market cap topped $ 100 billion for the first time.
Dogecoin also followed the above developments with its own record. This time around, the popular meme coin soared over $ 0.45.
Litecoin and Chainlink are also in the green. On the other hand, Ripple (-7.5%), Cardano (-1.5%), Polkadot (-4%), Uniswap (-5.5%) and Bitcoin Cash (-3%) lost some traction .
Market overview of cryptocurrencies. Source: Quantifying Crypto
Waves is the biggest winner among the top 100 coins after rising 70% to over $ 40. Next up are THORChain (19%), Ethereum Classic (15%), OMG Network (14%), Flow (10%) and Avalanche (10%).
In contrast, Fantom (-10%) lost the most, followed by Polygon (-9%), Holo (-8%), Ravencoin (-8%) and Dent (-8%).
Total market capitalization was also a record high of over $ 2.3 billion.
Bitcoin touched $ 59,000 but sagged
And while some altcoins have been on the move lately, the primary cryptocurrency has failed to make significant gains. The situation appeared to be a little different over the past 24 hours as BTC pumped from $ 56,000 to a new 15-day high of $ 59,000.
However, the bears regained control, pushing the cryptocurrency more than $ 4,000 south to a low of $ 54,500 (at Bitstamp).
Although BTC has bounced back a bit since then and is currently trading around $ 56,000, it is still down 3.5% on a 24-hour scale. In addition, its market dominance continues to decline, dropping to 46.3%.
BTCUSD. Source: TradingView
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TradingView’s cryptocurrency charts.