Crypto Market Cap at 6-Week High: Polkadot (DOT) Explodes 16% (Market Watch)

Cryptocurrency Market Overview. Source: Quantify Crypto

The bitcoin bulls continued their offensive in the past 24 hours as the asset reached yet another 2-month high of over $42,500. Most alternative coins have outperformed their leader, including ETH, BNB, and DOT, which has jumped by more than 16% in a day.

Green Altcoins; DOT Adds 16% of Value

The altcoins were relatively stagnant yesterday, but the situation is significantly different today. Ethereum traded around $2,450, but a 6% increase has driven it to approximately $2,600. Moreover, ETH even reached $2,650 earlier today, which became its highest price tag since June 15th.

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Binance Coin’s performance was somewhat sluggish recently, with all the regulatory concerns surrounding the leading cryptocurrency exchange. However, BNB has spiked by 7% in a day and exceeded $340 for the first time since June as well.

Cardano (5%), Ripple (3.5%), Dogecoin (3.5%), Uniswap (5%), Bitcoin Cash (2%), Chainlink (6.5%) and Litecoin (3.5%) are also well in the green. Polkadot is the most substantial gainer from the larger cap alts with a 16% surge. As a result, DOT trades well above $18.

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

Siacoin has added the most value from the top 100 coins. A 37% pump has driven SC to around $0.02. Quant (27%), IOTA (19%), Ankr (16%), Basic Attention Token (15%), DigiByte (13%), OKB (12%), Filecoin (11%), and Solana (10%) follow suit.

Consequently, the cumulative market cap of all crypto assets is up to $1.660 trillion. This means that the metric is up by $40 billion in a day and $140 billion in two days.

Bitcoin Touched $42.5K

The primary cryptocurrency has led the charge in the past week or so after it successfully bounced off from the sub-$30,000 price drop. It added more than $10,000 since then and kept climbing upwards, as reported yesterday.

It reached its highest price tag since the mid-May crash of $42,300 (on Bitstamp), but another leg up hours ago led to a new two-month high of $42,700.

As of now, BTC has retraced by about $1,000, and its market capitalization is just shy of $800 billion. Its market dominance, though, has dropped by about 1% in a day as the alternative coins have gone on a tear.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView


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