Ethereum Jumped to 10-Day Highs, Shiba Inu Soars 15% (Weekend Watch)

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Bitcoin has been relatively calm in the past 24 hours but has remained just over the $21,000 mark. More actions come from some of the altcoins, such as ETH, which has jumped to a 10-day high. Shiba Inu, on the other hand, is the most substantial daily gainer.

ETH, SHIB, SOL on a Roll

The alternative coins have been recovering some of their recently lost value more impressively than BTC in the past several days.

Ethereum is a prime example as it currently trades above $1,200 (at a 10-day high) following an 8% increase in a day. Just a week ago, ETH had plunged to $900.

BNB has tapped $240 after a daily jump of 4%. Similar gains are evident from Cardano, Polkadot, Dogecoin, TRON, and MATIC.

Solana and Avalanche have soared by about 10% once again. As a result, SOL is well above $40, while AVAX has reclaimed $20.

Shiba Inu is the most impressive performer from the larger-cap alts with a massive 15% surge. Consequently, SHIB has increased to $0.000012.

The overall crypto market cap has risen to just over $950 billion.

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

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Bitcoin Calm at $21K

The primary cryptocurrency also plummeted hard last week, dumping to an 18-month low of $17,500 on Sunday. As a result, it had lost almost 50% of its value in about a week.

However, the bulls intercepted these adverse moves and started pushing the asset north. During the week, BTC peaked at $21,500 but failed there and retraced following the Fed Chair’s latest announcement about raising the interest rates.

Nevertheless, bitcoin resumed its offensive trajectory and reclaimed $21,000 yesterday. As of now, it has added a few hundred dollars more and stands close to $21,500 once again. As such, its market cap is above $400 billion, but the dominance over the alts is down to 42.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Cryptocurrency charts by TradingView.


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