Prices have remained the same in the crypto market over the past days as high volatility and continuous consolidation continues to stall price surge.
Bitcoin struggles to hit $50,000 as well as other altcoins. Ethereum defied the odd to surge to a three-month high just shy of $3,400. Solana (SOL) also charted another ATH. Largely, Altcoins continue to outperform BTC, including SOL evident from its recent ATH and ETH.
Bitcoin drops to $47,000
After Bitcoin hit $50,000 during the weekend and dropped the number one crypto has struggled to get back to that level. It failed to surge above $49,000 as bears and bulls struggle to control the market.
This has led the price to drop below $48,000 and $47,000 hours ago. BTC has dropped as low as $46,730 earlier today. However, after the drop, the situation has changed and as it has spiked by more than $1,000. It has come close to $48,000, but so far has failed to overcome that level.
Bitcoins market capitalization is still stuck at $900 billion, but its dominance over the altcoins keeps decreasing and is below 43%.
SOL, ETH continues to surge in Altcoin market
Altcoins market have stalled except for a few coins including SOL and ETH. Solana has taken the spotlight all for itself. SOL’s performance in the past few week has been spectacular.
SOL has been beating past ATH it has set for itself over the week. It conquered $100 on Monday and climbed higher. It tapped $120 for its latest record.
Ethereum has also performed well since yesterday as it added more than 6% of the value and came close to $3,400.
Polkadot (11%) and Uniswap (6.5%) are also well in the green, while Cardano, Binance Coin, Dogecoin, and Bitcoin Cash have marked minor losses.
The coin with the most percentage surge as it usually is comes from the lower-cap altcoins. Celo is the most significant gainer with a 70 percent surge to $7 in the last 24 hours.
This comes after a recent announcement about a $100 million adoption initiative spearheaded by the project.
More gains are evident from Arweave (35%), Harmony (45%), Cosmos (25%), Fantom (21%), Kusama (11%), Elrond (11%), and Amp (10%).
The entire crypto market cap has surged by over $50 billion in the past 24 hours looking to hit $2.2 trillion.