Ethereum Broke ATH Again But Retraced, BNB Soared 8%


Ethereum broke ATH again as bitcoin failed to breach the $63,000 price range as we are taking a closer look at our latest altcoin news and analysis today.

Another day of strong volatility and we can see Bitcoin touching $63,000 but then retracing by a few thousand dollars ever since. Ethereum marked another ATH above $4400 before correcting while Binance coin surged to $500. Ever since BTC hit a new all-time high of $67,000, all eyes on the crypto world were set at Ethereum as the second biggest digital asset because Ethereum broke ATH again in a week.

BTCUSD. Source TradingView

However, Ethereum was not done at $4400 and started another leg up a few hours later. This time, the asset went as high as $4460 whit the new price range and as of now, it dropped a little but was still above $4300. Binance Coin is the biggest gainer from the larger-cap altcoins over the past 24 hours and BNB is up by 8% while surging above $530 for the first time. Some minor gains were evident from Terra and Polkadot while Dogecoin, Avalanche, Terra, Solana, and Chainlink were in the red. The top 100 coins however came with a representative. Dogelon Mars surged by 175% in one day and 360% in one week. BitTorrent increased by 13%, Decentraland by 32%, Tron by 10%, and some of the other coins also had sustainable rises.

crypto market
Cryptocurrency Market Overview. Source Quantify Crypto

The crypto market cap is up by $40 billion since a day ago and it is well above $2.6 trillion. The main cryptocurrency initiated a leg up in the past day after the sudden price drop from a day ago to a two-week low of $56,000 after which it recovered slightly and traded above $60,000. It went on the offensive with most of the market adding roughly $2000 and as such, it reached $63,000 for the first time in days. However, it failed to continue upwards as the bears came back to play and pushed it south. BTC Stands at $61,500 but the market cap is north of $1.150 trillion.

As recently reported, After dropping to $54,500 over the past day, it went on another run and came a few inches away from $58,000 but was stopped there. The bears intercepted the move and pushed the coin south but as of now, BTC reclaimed its ground and now stands around $57,500 with its market cap nearing $1.1 trillion once more.

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