Solana has been the standout performer in the cryptocurrency market in the past 24 hours as the altcoin hit a fresh all-time high price in at $75. However, the price has retraced a bit at press time.
Bitcoin and other altcoins on the other hand have faced volatility and mild price correction has set in. Bitcoin is back above $46,000 after dropping below $45,000 in the past 24-hour.
Ethereum, Cardano, XRP among other altcoins have faced mild correction while Solana, Polkadot, Binance coin have managed to maintain a bullish momentum.
Bitcoin stalls at $46,000
After a massive bull run in the past week seeing it surge above $48,000 number one cryptocurrency, Bitcoin is beginning to take a break.
It’s price started dropping and in hours Bitcoin dropped to $47,000 and the decline continued. The drop continued all the way to $45,250 until recovery began. BTC surged back to $46,500 region where the price appears to be consolidating now.
Bitcoins market capitalization has stayed above $850 billion after all the back and forth and minor corrections. It’s dominance over altcoins, however, continue to drop as a result of price surge among altcoins. BTC’s dominance dropped to 43.5%.
Solana, Polkadot dominates as correction sweeps altcoin market
Many altcoins have faced corrections in the past 24 hours similar to Bitcoin. Number one Altcoin, Ethereum has decreased by about 2.5% and currently stands below $3,200.
ADA, XRP which were also toasts in the alt market last season are facing correction trading in the red region. Both alts dropped by 3.5% and 6.25% in a day to $2.1 and $1.2, respectively.
Uniswap (-2.5%), Bitcoin Cash (-2%), and Chainlink (-2%) are also in the red. In contrast, Polkadot has jumped by 10% and currently sits above $26.
Solana, one coin that has been surging mildly since the weekend, has outperformed the rest of the larger-cap alts. It broke into the top ten cryptocurrencies and has since surged again by 20% and reached yet another all-time high at $75 hours ago.
In the list of the top 100 cryptocurrencies that exist, AUDIO has exploded by 105% in a day and 155% in a week to a price tag of $3.5. Further gains come from Terra (21%), NEAR Protocol (14%), Elrond (12%), Kusama (11%), and Huobi Token (10%).