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Large Caps Explode: BNB Breaks ATH Above $50, ETH Reclaims $1400 (Market Watch)

Summary:
Despite another attempt to overcome ,000, bitcoin has continued to trade inside the tight range of K to K.In contrast, large-cap altcoins, along with some DeFi ‘stars’ had performed a lot better. This includes a new ATH for Binance Coin, Ethereum rising above 00, getting near the previous January 2018 ATH range. On the other side, XRP has plummeted following the recent gains.Binance Coin Surpassing To New ATHMost of the large-cap altcoin market is well in the green against the dollar over the past 24 hours. This comes following a ‘dry’ weekend with minor price moves.Ethereum has added 8% to its value and has risen to about ,400. Thus, the second-largest crypto has come just inches away from its previous all-time high region – 40 – set on January 2018. Despite a spike

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Despite another attempt to overcome $35,000, bitcoin has continued to trade inside the tight range of $33K to $35K.

In contrast, large-cap altcoins, along with some DeFi ‘stars’ had performed a lot better. This includes a new ATH for Binance Coin, Ethereum rising above $1400, getting near the previous January 2018 ATH range. On the other side, XRP has plummeted following the recent gains.

Binance Coin Surpassing $50 To New ATH

Most of the large-cap altcoin market is well in the green against the dollar over the past 24 hours. This comes following a ‘dry’ weekend with minor price moves.

Ethereum has added 8% to its value and has risen to about $1,400. Thus, the second-largest crypto has come just inches away from its previous all-time high region – $1440 – set on January 2018. Despite a spike towards $1480 last January, ETH is still struggling to break its previous ATH.

Chainlink (5%), Bitcoin Cash (3%), Polkadot (2%), and Litecoin (5%) are also in the green from the top ten.

Binance Coin has made a triumphant return among the top ten coins, after a daily increase of 10%. Earlier, BNB even painted a new all-time high at over $52 (according to Binance).

However, Cardano’s performance has trumped all other large-cap altcoins with a 23% surge. Consequently, ADA’s price has increased to $0.42.

From the bearish side, Ripple is the most significant loser. After a few days of rising following the company’s response to the SEC charges, or a coordinated pump, XRP has nosedived by 40% to $0.35.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More gains are evident from lower- and mid-cap altcoins, especially among the DeFi’s. FunFair leads with a 50% increase, followed by Band Protocol (34%), Terra (30%), and SushiSwap (30%). Moreover, Sushi is up by 70% on a weekly scale and trades at $13.

These gains have helped the total market cap to maintain its value above the coveted $1 trillion mark.

Bitcoin Stalls Around $34K Again

While the altcoins have shown impressive fluctuations, their leader seems stuck in a range between $33K and $35K. After the highly-volatile end of last week when BTC displayed $6,000 moves in both directions, the asset calmed over the weekend.

In the past 24 hours, bitcoin attempted to overcome $35,000 once again but to no avail. Just the opposite, the rejection drove the asset to an intraday low of about $33,000.

Nevertheless, the cryptocurrency reclaimed $34,000 in the following hours and currently trades above it.

As expected, the outperforming altcoins continue to damage bitcoin’s dominance over the market, and the metric has fallen to 62%. For comparison, it had increased to over 65% on Friday.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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