While bitcoin and most of the altcoins have calmed since yesterday’s gains, AVAX has gone on a tear with a double-digit surge.
Bitcoin aimed higher in the past 24 hours but was rejected at around $45,000. Most altcoins are also untypically stable as of now, with the apparent exception – Avalanche. AVAX has surged by double-digits and is close to $100.
After being unable to break above $46,000 and continue its recovery last week, bitcoin headed south during the weekend and dipped below $42,000 on several occasions in a few days.
However, the bulls intercepted the move and reversed BTC’s trajectory after this $4,000 price decline. As reported recently, the cryptocurrency started to regain traction after it bounced off of the 50-day MA at $42,000.
This resulted in adding $2,000 in a day yesterday, but the asset kept climbing in the following hours and neared $45,000. Despite getting rejected at that point, bitcoin has still remained above $44,000.
As such, its market capitalization is close to $850 billion after dipping below $800 billion just a few days ago.
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The alternative coins registered impressive gains yesterday, but most have calmed since then. Ethereum struggled at $2,800 earlier this week but soared by around $300 yesterday. Another minor increase in the past 24 hours has driven the second-largest digital asset to $3,150 as of now.
Binance Coin has added a similar percentage and stands above $430. Ripple, Cardano, Solana, Polkadot, Terra, and MATIC are also slightly in the green.
Avalanche, on the other hand, has registered the most impressive daily increase. AVAX has soared by 10% and has neared the coveted price tag of $100.
More daily gains come from NEO (11%), Theta Fuel (10%), Decentraland (10%), Axie Infinity (9%), Waves (8%), Celsius Network (8%), and others.
The cryptocurrency market capitalization is up by around $30 billion in a day and stands around $2 trillion.
Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn