Cardano jumps 5% while Ethereum mined $1600 as the broader market rallies in the past 24 hours, so let’s take a closer look today latest altcoin news.
Cardano jumped 5% and got the most out of the larger cap altcoins and the weekend came with almost no market movement as BTC reclaimed $23,000. most altcoins are quiet and ADA is one of the few exceptions with a daily increase of 5%. The past week has been good for the major cryptocurrency and the asset has recovered from last week’s drop below $19,000, but is now close to $22,000. the bulls kept control of the market and pushed BTC higher, which resulted in a price surge above $24,000, which became the highest price in a month.
The landscape changed once it became known that Tesla had sold the majority of BTC holdings in the second quarter due to the COVID lockdown in China and BTC reacted quickly and fell $2,000 within hours. It bounced back and reached $23,000 where it spent most of the trading day and is there now, so the market cap is still well below $450 billion with a 41.6% dominance. . unlike the previous weekend which saw impressive price performance from most altcoins and the situation looks different. Ethereum continues with the recent gains after a slight daily increase and as such the second largest asset has recovered $1600.
DPGE, Ripple, and MATIC are in the green and Cardano was the biggest gainer among larger cap altcoins with a 5% rise on the day, ADA is trading above $0.5. on the contrary, BBN, SHBI, DOGE and AVAX are in the red and most small and mid-cap altcoins are flat on a daily scale. It’s no wonder, then, that the cumulative market capitalization of assets remains calm at nearly $1.06 trillion.
As previously reported, the MATIC token may be facing a further correction after surging in the past month and it appears to be entering overbought territory. The drop below $0.77 could trigger another correction and Polygon looks set for a retracement after the surge in market value over the past month, so there is a huge area of support that can help the price hold. .
DC Forecasts is a leader in many crypto news categories, striving to achieve the highest journalistic standards and adhering to a strict set of editorial policies. If you are interested in offering your expertise or contributing to our news site, please do not hesitate to contact us at [email protected]