Bitcoin Solid at $63K, Solana Breaks ATH Surpassing Cardano as Top 5 Largest Crypto (Market Watch)


Bitcoin jumped above $64,000 briefly, thus coming less than 5% away from a new ATH but retraced slightly and now stands around $63,000. Most altcoins have gone on a tear, including a massive double-digit surge from Solana leading to a new ATH.

SOL Surpasses Cardano After a New ATH

As reported earlier, the second-largest cryptocurrency registered yet another new all-time high. This time, Ethereum surpassed $4,600 for its latest record. Despite retracing to just shy of that level, ETH is still 5% up on the day.

Another new peak came from Solana. SOL skyrocketed by 12% and charted its latest ATH at $232, according to CoinGecko. Moreover, the asset has surpassed Cardano as the 5th largest digital asset, even though ADA is up by 8% since yesterday.

More gains come from Binance Coin (2%), Ripple (10%), Polkadot (5%), Dogecoin (1.5%), Terra (7%), Avalanche (8.5%), Chainlink (3%), and Litecoin (4.5%).

The lower- and mid-cap alts display even more fluctuations. Arweave leads the way with a 40% surge, followed by Loopring (35%), Telcoin (18%), Maker (16%), Amp (14%), CRO (14%), Kadena (14%), MATIC (11%), and Synthetix (10%).

The cryptocurrency market capitalization also saw a new record at $2.750 trillion after adding $100 billion since yesterday’s low.

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

Bitcoin Calms at $63K

Bitcoin dipped below $60,000 a few days ago but was quick to reclaim that particular coveted line, as reported earlier this week. It went above $62,000 before retracing again to $60,500 and calmed around $61,000 yesterday.

However, this is where the bulls came to play again. In a matter of hours, they pushed the cryptocurrency to $63,000 24 hours ago. Furthermore, BTC kept climbing during the day and tapped a high of $64,400, meaning that it came just 4% away from the ATH at $67,000.

Nevertheless, bitcoin failed to continue upwards and has retraced by around $1,000 since then. As such, the gaining altcoins have further reduced its dominance over the market to just over 43%. Just for reference, the metric was 47% a few weeks ago.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Cryptocurrency charts by TradingView.


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