Over the weekend, the number one cryptocurrency, Bitcoin has added around $6,000 following its dip during the week. Similarly, the number one altcoin, Ethereum has reclaimed the $1,700 level as the crypto market continues a slow recovery.
Binance coin, however, leads the altcoin recovery surging 9% to $275 in the last 24 hours.
Bitcoin back above coveted $55,000
Mission one has been accomplished by the crypto after returning to the strong resistance level at $55,000 and moving above the mark.
Speculations that the record $6 billion worth of options contract which expired on Friday was going to push the price of the coin back was just another conspiracy by bears in the market. It had no effect whatsoever on Bitcoin price so far.
Rather the number one crypto, Bitcoin has been on a steady way up leading to it overcoming the resistance faced at $55,000. Bears still had their share of the market, however, as the price slumped below $54,000 again. At press time, BTC trades at $56,200 region.
Ethereum, BNB take charge of altcoin recovery
A slight drop in the prices of Ethereum and other altcoins are still expected, however, the crypto has continued to increase in value over the weekend. ETH is back above the $1,700 region after dropping to around $1,550 during the week.
Litecoin (1%) and THETA (5%) are also up from the top ten to $185 and $13, respectively. Binance Coin is the most impressive performer from the larger-cap altcoins with a 9% surge. Consequently, BNB has increased to $275 after dropping to $225 on Thursday.
Cardano (ADA), Polkadot (DOT), Ripple (XRP), and Uniswap (UNI) have remained essentially stagnant on a 24-hour scale.
Lower altcoins are experiencing higher price fluctuations and mid-cap crypto coins.
HedgeTrade has entered the top 100 coins by market cap after a 50% jump in a day to $2.1.
Storj follows with a 48% increase since yesterday and a whopping 270% surge in a week.
Ankr (39%), Helium (25%), PancakeSwap (22%), ICON (21%), Ontology (14%), Solana (12%), and Curve DAO Token (11%) are next.
The cumulative market capitalization for all crypto ultimately has increased by $60 billion in one day to hit $1.770 trillion. In the last four days, crypto has garnered $170 billion.