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Cardano (ADA) Sets New All-Time High as Bitcoin Reclaims $49K: Weekend Watch

Summary:
Following a sharp retracement below ,000, bitcoin has rallied up and reclaimed that particular level. Most altcoins have stalled since yesterday, except for Cardano. ADA has painted another fresh all-time high above .6. ADA’s Latest ATH; Alts Calm The alternative coins were all covered in green yesterday with impressive gains across the charts. Ethereum briefly exceeded ,300 but has retraced slightly since then and currently sits below that level. Binance Coin, which tapped a new three-month high at over 0, is down a bit to 5. Ripple (-1%), Dogecoin (-2.5%), Polkadot (-3%), Uniswap (-2%), Bitcoin Cash (-1%), and Chainlink (-2%) have also corrected slightly in a day. Solana has lost the most value (-5%) after it charted an ATH yesterday. Speaking about records

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Following a sharp retracement below $49,000, bitcoin has rallied up and reclaimed that particular level. Most altcoins have stalled since yesterday, except for Cardano. ADA has painted another fresh all-time high above $2.6.

ADA’s Latest ATH; Alts Calm

The alternative coins were all covered in green yesterday with impressive gains across the charts. Ethereum briefly exceeded $3,300 but has retraced slightly since then and currently sits below that level.

Binance Coin, which tapped a new three-month high at over $460, is down a bit to $455. Ripple (-1%), Dogecoin (-2.5%), Polkadot (-3%), Uniswap (-2%), Bitcoin Cash (-1%), and Chainlink (-2%) have also corrected slightly in a day.

Solana has lost the most value (-5%) after it charted an ATH yesterday. Speaking about records against the dollar, ADA has done that today following a 5% surge to just over $2.6. Cardano’s native coin is 160% up since the July 20th market correction when it dipped below $1.

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

More impressive gains are evident from the lower- and mid-cap altcoins. NEAR Protocol (30%) leads the charge, followed by THORChain (18%), Cosmos (16%), Fantom (13%), Enjin (11%), Chiliz (10%), and Filecoin (10%).

The cumulative market capitalization of all cryptocurrency assets has remained relatively stable as well and stands above $2.1 trillion.

Bitcoin Stands Above $49K

The primary cryptocurrency has also been a notable performer in the past few days. Back on August 19th, it struggled when it dropped to $44,000.

However, the landscape changed entirely at that point, with the bulls taking charge and sending the cryptocurrency north. Bitcoin added several thousand dollars of value and stood at $47,000.

That was not all as BTC initiated another leg up, this time, it went above $49,000 as reported yesterday. The bears briefly regained control and pushed it south by $1,000. Nevertheless, bitcoin went north again and came just $200 away from touching $50,000. This became its highest price line in three months.

As of now, BTC stills stands above $49,000, and its market capitalization is at $925 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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