BNB has finally caught to the recent altcoin rally, having surged by 12% and tapping $330.
While bitcoin jumped slightly over the past 24 hours and even neared $44,000, many altcoins have outperformed it and reduced its market dominance by roughly half a percentage in a day.
Bitcoin SV stands out as the most notable gainer, followed by the likes of Arbitrum, Aave, Lido DAO, Optimism, and many others.
Alts on a Roll
Binance Coin emerged as the top gainer from the larger-cap alts with a massive 12% surge that pushed its price to $330. Moreover, SOL is down by over 6% within the same timeframe, which has allowed BNB to take back its recently lost fourth place in terms of market cap.
Cardano has skyrocketed by 9% today and trades above $0.65. Ethereum, on the other hand, is up by 6% now and sits close to $2,400 after failing to decisively overcome that level earlier today amid the ongoing altcoin rally. Chainlink (14%), Uniswap (10%), Bitcoin Cash (11%), and ICP (7%) are the other impressive gainers from the larger-cap alts.
Avalanche, Polkadot, MATIC, and Toncoin are in the red, in contrast.
The most substantial price surge from the top 100 alts comes from Bitcoin SV. BSV has soared by 60% and now trades above $90. ARB, AAVE, LDO, OP, and XDC follow suit with gains of 15-20%.
The total crypto market cap has added more than $40 billion daily and sits close to $1.7 trillion on CMC.
Cryptocurrency Market Overview. Source: Quantify Crypto
Bitcoin Stopped Ahead of $44K
The primary cryptocurrency had a rocky start to the week. It hovered around $43,000 during the weekend but fell down to $42,500 on Monday and dropped further on Tuesday to a weekly low of $41,600.
This is where the bulls stepped up, though. They pushed the asset north in the following days, which culminated earlier today with a price surge to $43,800. As they were preparing for another leg-up, the landscape changed, and BTC retraced by around a grand.
Despite being 1% up on the day and trading slightly above $43,000 now, BTC’s market dominance has taken a major hit and is down by 0.5% in a day to just below 50%. Its market capitalization, however, has managed to bounce off to above $840 billion.
BTCUSD. Source: TradingView
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