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Bitcoin Retests $55K Amid Extreme Volatility: Elrond (EGLD) Surpasses $500 (Market Watch)

by CryptoPotatoNovember 23, 2021

In another volatile 24 hours, bitcoin spiked by nearly $3,000 in minutes before it headed south vigorously to retest $55,000. While most altcoins are also in the red on a daily scale, CRO and EGLD continue with their impressive performances.

Bitcoin’s Wild 24-Hour Ride

Following last week’s price slumps, bitcoin had begun its recovery during the weekend and tapped $60,000 for the first time in days on Saturday and Sunday. However, it failed to overcome that coveted level, and the subsequent rejection drove the asset south.

In just a few hours, BTC lost around $3,000 and dumped below $57,000. The situation changed rather drastically as bitcoin went on the offensive and spiked above $59,000 yesterday.

However, it turned out to be a fake-out as BTC lost all momentum and dropped beneath $56,000 in the following few hours. Another volatile move followed in which bitcoin surged by more than a grand and neared $57,000 where it’s currently situated.

Nevertheless, BTC’s market capitalization has dumped well below $1.1 trillion, and its dominance over the alts has been further reduced to just under 42%.

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EGLD’s Notable Run Continues

Most altcoins have mimicked BTC’s performance in the past 24 hours, meaning they are in the red now. Ethereum is down by 1.5% in a day and has dropped to $4,100. The second-largest cryptocurrency registered its latest peak approximately two weeks ago at nearly $4,900, but it’s down by $800 since then.

More price losses are evident from Binance Coin, Solana, Cardano, Ripple, Polkadot, and Dogecoin.

Avalanche, which has been among the best performers lately, is down by 4% on a daily scale. As a result, AVAX trades below $130. Shiba Inu has lost a similar percentage and stands at $0.000042.

In contrast, CryptoCom’s native token has surged again by 11% and is now above $0.75.

Elrond continues to mark new records, and the latest came at $540 earlier today. ELGD is up by 70% since last Friday, when the project announced a massive liquidity program for its DEX worth more than $1 billion.

More gains come from The Sandbox (37%), Amp (20%), Voyager Token (16%), Decentraland (11%), and Enjin Coin (10%).

In contrast, Fountain (-43%), Flow (-11%), ICON (-10%), Stacks (-10%), and Oasis Network (-8%) have lost the most value in a day.

Cryptocurrency Market Overview. Source: Quantify Crypto

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

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Market Watch: Bitcoin Rejected at $60K, Crypto Markets Lost $100B Daily

by CryptoPotatoNovember 22, 2021

After the positive weekend, bitcoin was rejected at $60,000 and dropped by a few thousand dollars to $57,000. Most altcoins are also trading in the red, except for CRO and Elrond as both went on to register new all-time highs.

Bitcoin Rejected at $60K

After several consecutive days of losing value, in which bitcoin dumped by 20% from its peak to a monthly low of below $56,000, the asset finally started to recover some ground during the weekend.

It spiked by around $3,000 on Saturday and even neared $60,000 on Sunday. However, it failed to breach it, and the subsequent rejection drove it south hard.

In just a matter of hours, BTC went down by a few thousand dollars and even dipped below $57,000. As of now, it has bounced off rather well and currently sits close to $58,000.

Nevertheless, bitcoin’s market capitalization has dropped well below $1.1 trillion, and its dominance over the alts remains at just over 42%.

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CRO and EGLD See New Peaks

Most alts have mimicked BTC’s performance in the past several days, which means they are slightly in the red today. Ethereum went above $4,350 yesterday, but a 3% decline has driven it back down to around $4,200.

Binance Coin (-1.7%) has decreased to $575, Cardano (-3.5%) is down to $1.8, and more losses come from Ripple, Polkadot, Dogecoin, Shiba Inu, and Terra.

Solana (3%) and Avalanche (1%) are the only two coins from the top 10 in the green. AVAX continues with its impressive performance by tapping frequent ATHs.

Speaking of records, Crypto.com’s native token has also charted a new one above $0.7 following a massive 11%. Elrond (EGLD) has skyrocketed by 23% and also charted a new peak.

More price increases are evident from Voyager Token (13%), Flow (12%), IOTA (12%), Curve DAO Token (11%), Secret (10%), Oasis Network (10%), and Stacks (10%).

In contrast, GALA (-20%), Arweave (-13%), Kadena (-12%), Nexo (-10%), Immutable X (-8%), KuCoin Token (-8%), and Tezos (-7%) have lost the most in a day.

The cryptocurrency market capitalization went down by around $100 billion in a day since yesterday’s peak and is at $2.7 trillion on CoinGecko now.

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Bitcoin Touched $56,000: Shiba Inu (SHIB) Dumps 30% (Market Watch)

by CryptoPotatoOctober 8, 2021

Following the past few days of impressive gains and new monthly highs, bitcoin’s price finally touched $56,000. Most alternative coins are somewhat stagnant in the same timeframe, with a few exceptions. The recent high-flyer Shiba Inu has dumped by roughly 30% in a day.

Bitcoin Touched $56K

It was approximately a week ago when bitcoin struggled below $45,000 after it had recovered from its latest price drop below $41,000. The situation quickly changed, though, as it frequently happens in the crypto market, as the asset began gradually increasing in value.

It shot up to $50,000 for the first time in a month and, after a few rejections, managed to overcome this level decisively. Unlike what happened in September, this time, BTC kept climbing.

This resulted in nearing $56,000 – the highest price tag since mid-May. While the possible reasons behind this impressive surge are still debated, it meant that the cryptocurrency had added 35% of value in about a week.

The bears tried to step up at this point and pushed bitcoin south to below $54,000. However, their attempts were for not. Instead of going down, bitcoin went on a roll again and touched $56,000 just minutes ago.

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Its market capitalization stands well above the coveted $1 trillion mark, while the dominance over the altcoins has slightly increased once again.

Alts Stall: Shiba Inu Dumps

The alternative coins followed their leader in its conquest to new monthly highs, but most have remained stagnant on a 24-hour scale.

Ethereum is among the most substantial gainers as it had dropped well below $3,000. As of now, though, ETH sits above $3,600, meaning a more than 20% increase in a week or so.

Cardano, Binance Coin, Ripple, Dogecoin, Uniswap, and Chainlink have all marked minor losses in the past 24 hours. On the other hand, Solana, Polkadot, and Avalanche are slightly in the green.

Terra has increased the most with a 7% surge to $47. Thus, LUNA is just inches away from charting a new all-time high.

From the lower- and mid-cap altcoins, FTM is the most significant gainer, with a 30% increase after Nansen added support for the Fantom network. Mdex (21%), Bitcoin SV (18%), Harmony (12%), Yearn Finance (11%), Chiliz (11%), and Elrond (10%) follow.

In contrast, Shiba Inu has lost the most value in a day (-30%). This comes after a few days of consecutive gains and an untypically high futures trading volume.

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Bitcoin Reached $48K: AXS Skyrockets 50% to New ATH (Market Watch)

by CryptoPotatoOctober 2, 2021

Following yet another price surge in the past 24 hours, bitcoin neared and even briefly exceeded $48,000. The alternative coins are also well in the green, with ETH closing down to $3,300. However, AXS is the most significant gainer once more, with a 50% surge to a new ATH.

Bitcoin Tapped $48K

A lot can change in the cryptocurrency space in just a few days. Back on September 29th, bitcoin struggled with its third consecutive drop below $41,000.

However, the bulls intercepted the move and pushed the asset north. In just a few hours, BTC had already added around $2,000 of value. That was not all, though. Promising news from the US emerged when Fed Chair Jerome Powell said the country had no intentions of banning digital assets.

Bitcoin spiked to around $47,000 almost immediately, and it kept climbing in the following hours. It went to an intraday peak of $48,500, which became the highest price tag since September 19th.

Despite retracing below $48,000 as of now, its market capitalization has increased to $900 billion.

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Alts See Green Again; AXS New ATH

The alternative coins also suffered badly until Wednesday, but similarly to their leader, they have bounced off quite well. Ethereum had fallen all the way down to $2,900. Now, though, ETH trades roughly $400 higher after another 9% increase in the past 24 hours.

Cardano (5%), Binance Coin (5.5%), Ripple (6.5%), Dogecoin (7%), Terra (2%), Avalanche (5%), and Uniswap (5%) are well in the green from the larger-cap alts. However, Solana and Polkadot have outperformed all with substantial double-digit gains.

Axie Infinity has, once again, surged the most from the top 100 coins. Another 50% increase has driven AXS to $120, which is a new all-time high.

Revain (25%), Ren (21%), ICON (21%), THETA (20%), Elrond (20%), Flow (17%), Celsius (17%), Filecoin (17%), OKB (16%), and many more follow.

The cryptocurrency market capitalization is up by roughly $200 billion since the recent low and stands at $2.1 trillion now.

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Market Watch: Avalanche (AVAX) Explodes 30% to New ATH, Bitcoin Stagnant at $45K

by CryptoPotatoSeptember 12, 2021

After falling to $44,000 and spiking to $46,000, bitcoin has calmed once again around the $45,000 mark. Most altcoins are slightly in green on a daily scale, but some have charted impressive gains. Avalanche is among those as AVAX has surged by more than 30% to tap a new ATH.

ETH at $3,300 as AVAX Marks a New ATH

Most larger-cap altcoins have mimicked BTC in the past few days. Ethereum plummeted during the mid-week crash, attempted rapid recovery, but failed to increase any higher than $3,600. In the following two days, it kept losing value gradually and dropped below $3,300. As of now, it has gained about 2% in a day and currently stands around that level.

Cardano, whose network is set to undergo its long-anticipated hard fork today, has spiked by more than 6% and has reclaimed $2.5. Binance Coin (1%), Ripple (1%), Dogecoin (0.5%), Chainlink (2%), and Uniswap (1%) are slightly in the green since yesterday.

Polkadot (9%) and LUNA (8%) have marked more impressive gains, while Avalanche has outperformed all others. A 32% surge from AVAX has resulted in breaking above $64 for a new all-time high.

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Other impressive gainers are OMG Network (11%), Hedera Hashgraph (10%), Elrond (10%), and Kusama (8%). As a result, the crypto market cap has recovered around $50 billion in a day.

Bitcoin Still Sits at $45K

Ever since the aforementioned market-wide crash on Tuesday, in which BTC lost $10,000 in hours, the price of the asset has remained untypically stable.

After this drop from $53,000 to $43,000, bitcoin bounced off immediately to around $46,000. Consolidation followed in the next day or two before the cryptocurrency attempted to overcome $47,000 but to no avail.

Just the opposite, the bears stepped up and drove its price south. In the past 24 hours, bitcoin dropped to around $44,000. It reacted well to this dip and added $2,000 of value but was rejected at $46,000.

As of writing these lines, BTC has retraced to around $45,000 once more. Its market capitalization sits at $850 billion, while the dominance over the altcoins has declined to 41%.

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Bitcoin Drops Below $45K, Crypto Market Cap Slumps $120B (Weekend Watch)

by CryptoPotatoSeptember 11, 2021

After a few days of consolidation around $46,000, bitcoin has headed south and dropped beneath $45,000. Most altcoins have retraced in a similar fashion, with a few exceptions. LUNA is among those as it pumped by double-digits to tap a new ATH above $40.

Bitcoin Slides Below $45K

The primary cryptocurrency had a rough week. As it was preparing to become a legal tender in El Salvador, its price went to a multi-month high at just over $53,000. However, shortly after it became official, BTC plummeted in value.

In just a matter of hours, it lost over $10,000 and bottomed at $43,000. It bounced off somewhat rapidly to $46,000 and even challenged $47,000 a day later, but it ultimately failed to continue higher.

Just the opposite, the bears pushed it south once more in the past 24 hours, and it dipped to just over $44,000. As of now, it has recovered several thousand dollars but still struggles below $45,000.

Bitcoin’s market capitalization is down beneath $850 billion, and its dominance over the altcoins has remained still at 41.5%.

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Altcoins Drop Again; LUNA Goes For an ATH

Most alternative coins have mimicked their leader’s performance lately. After the mid-week market crash, Ethereum dropped to around $3,000. It bounced off and went above $3,500, but another price dip has driven it to approximately $3,250.

Cardano (-4%) has declined beneath $2.4. Binance Coin, which went above $500 just days ago, now struggles to remain above $400. Solana – one of the best performers lately – has lost 5% in a day and now stands at $175.

Ripple (-4%), Dogecoin (-5%), Polkadot (-7.5%), Chainlink (-6.5%), and Bitcoin Cash (-5%) are also well in the red.

In contrast, Terra has surged by more than 25% in a day. As a result, LUNA charted a fresh all-time high just a few hours ago at above $40.

Quant (27%), Elrond (22%), Avalanche (17%), and Raydium (10%) have also marked impressive gains in a day to contrast with the rest of the market. Nevertheless, most lower- and mid-cap alts are in red.

Double-digit losses are evident from Celo, IOTA, Revain, eCash, Arweave, Perpetual Protocol, and more. As such, the cumulative market cap of all cryptocurrency assets has lost more than $120 billion in a day and is just over $2 trillion now.

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Ethereum Spikes 25% in 3 Days: Bitcoin Calms Around $35K (Market Watch)

by CryptoPotatoJune 29, 2021

After the enhanced volatility in the past few days in which BTC displayed several multi-thousand dollar moves, the cryptocurrency has calmed around $35,000. Some altcoins have charted more significant gains, with ETH reclaiming $2,100 and DOT surging 6%.

ETH Above $2,100; DOT Reconquers $16

The alternative coins mimicked BTC’s performance in the past several days with adverse price movements on Saturday and recovery sessions on Sunday and Monday.

Ethereum was a prime example of this as it dumped to just over $1,700 at the start of the weekend. However, the second-largest crypto started regaining traction rapidly and has added more than $400 of value since then. As a result, ETH reached a weekly high of around $2,175 earlier today.

While Binance Coin, Cardano, and Dogecoin have either stalled or slightly decreased in the past 24 hours, the rest of the larger cap alts are in the green.

Ripple (2%), Uniswap (3%), Litecoin (4%), Solana (3%), and Chainlink (2.5%) have marked minor gains, while Polkadot and Bitcoin Cash have added the most value.

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DOT is up by 6% to above $16, while BCH has jumped by 9% to north of $520.

Compound has seen the most gains in a day after a 20% surge to $320. Bitcoin SV, on news that Craig Wright has won a legal case in the crypto sphere, has jumped by 19% to $160.

Elrond (17%), Kusama (17%), Aave (13%), ETC (13%), Cosmos (11%), NEM (11%), XDC (11%), and Zilliqa (10%) are all up by double digits.

The crypto market cap also continues to recover and is now well above $1.4 trillion.

Bitcoin Stalls Around $35K

The primary cryptocurrency led the charge south during the weekend as it dumped to just north of $30,000. The bulls stepped up at this moment, though, and didn’t allow a drop below that coveted level twice in a week.

Just the opposite, the asset started to reclaim some of its lost value. Ultimately, BTC added more than $5,000 in a few days and broke above $35,000 briefly yesterday.

Yet, the bears hadn’t given up yet and pushed it south to around $34,000. Nevertheless, bitcoin bounced off and jumped to a four-day high of $35,500 before calming around $35,000 once more.

Its market capitalization still stands around $650 billion while its dominance has lost some ground and is down to 46%.

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Bitcoin Eyes $50K As BNB Shoots for $100 (Market Watch)

by CryptoPotatoFebruary 9, 2021

The Tesla-driven rally boosted BTC’s price by nearly $10,000 to a new ATH. Most altcoins also joined the party with records of their own, and the total market cap went for, yes, an all-time high as well at $1.4T.

Bitcoin’s Impressive 24H Ride

Approximately 24 hours ago, CryptoPotato reported the situation in the cryptocurrency space when BTC was struggling below the $40,000 after another rejection. All seemed somewhat familiar as the asset was unable to stay above it for longer since early January.

However, everything changed when news broke that Elon Musk’s electric vehicle giant, Tesla, had purchased $1.5 billion in bitcoin in January.

BTC’s price reacted immediately with a $6,000 surge to nearly $45,000. While this was an impressive new record of its own, the cryptocurrency wasn’t done yet. It continued upwards, broke into uncharted territory again, and just a few minutes ago painted a new all-time high at above $48,000.

This became the largest daily candle in BTC’s history. Its market capitalization skyrocketed to about $900 billion. Additionally, bitcoin’s surge helped the asset to reclaim some of its recently lost dominance over the market, which is at almost 64% now. Just yesterday, it had dropped below 61%.

btcusd_chart — BTC/USD, Bitstamp. Source: TradingView

The Altcoin Market: Green Everywhere

Although some altcoins were a bit late to the BTC surging fiesta, they are all in now with some remarkable price pumps as well.

Ethereum jumped by about 12% to an all-time high of above $1,800. Ripple is up by 12% to $0.47, Bitcoin Cash (12%) to $495, and so forth.

More ATH records came for Chainlink at above $26, Polkadot at nearly $24, and Binance Coin. BNB has been among the best performers in the past several days, and it doubled-down in the past 24 hours with another 25% surge. Consequently, the token came just inches away from breaking above $100.

overviewmarket_chart — Cryptocurrency Market Heatmap. Source: Quantify Crypto

Even more gains are evident from lower and mid-cap alts. BitTorrent leads with a massive increase of 200% in a day and 300% in the past seven days to $0.0015. Elrond (50%), Terra (50%), PancakeSwap (40%), IOTA (36%), DigiByte (33%), Filecoin (30%), and Stacks (25%) are just some of the representatives of the double-digit price pump club.

Ultimately, the crypto market cap added nearly $200 billion in a day for a new record of $1.4 trillion.

Crypto Market Cap. Source: CoinMarketCap

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DOGE Enters Top 10 Cryptos While Bitcoin Eyes $40K (Again): Market Watch

by CryptoPotatoFebruary 8, 2021

Bitcoin’s dominance continues to suffer and has dipped below 61% even when the cryptocurrency has remained above the $39,000 mark. This is a result of exploding lower- and mid-cap altcoins.

While most larger-cap ones have calmed in the past 24 hours, Dogecoin has taken advantage and returned to the top 10.

Bitcoin Targets $40K Again

The primary cryptocurrency had a positive week in which it surged by about $9,000. Bitcoin dipped to $32,000 on Monday, but, perhaps driven by institutional investors withdrawing from Coinbase, started to gradually increase in value.

This culminated in a near 1-month top of $41,000 on Friday. However, the cryptocurrency failed to maintain its price at such a high level and fell beneath $40,000 shortly after.

The bears enhanced their endeavors and pushed BTC to an intraday low of $37,500 in the past 24 hours on Bitstamp. Nevertheless, bitcoin refused to stay down and has jumped above the $39,000 level once more.

From a technical viewpoint, BTC’s main obstacles are situated at $40,000, $40,735, $41,000, and the all-time high at $42,000. Alternatively, the support lines at $38,550, $38,000, and $37,350 could contain it in case of price breakdown.

Doge Returns To Top 10 And Lower-caps Explode

Most of the altcoin market has been on a roll lately, which resulted in several all-time high records for Ethereum, Binance Coin, Polkadot, Chainlink, and more. However, the situation is somewhat different since yesterday.

Ethereum, Cardano, Polkadot, and Chainlink have painted minor gains, while XRP and Litecoin are slightly in the red.

BNB has added about 8% of value and has neared its record price at above $75. What’s perhaps more compelling, though, is the return of Dogecoin in the top 10 after a 20% surge to $0.07. This comes after a significant interest in the meme coin from Elon Musk, the Winklevoss twins, Snoop Dogg, and more.

Cryptocurrency Market Overview. Source: coin360.com

The situation within the lower and mid-cap altcoins is substantially more volatile. Avalanche has gained the most with a 50% increase, followed by Elrond (48%) and Matic Network (45%).

Terra (27%), Solana (26%), 0x (22%), Cosmos (20%), NEM (20%), The Graph (20%), THORChain (18%), and Ravencoin (15%) are next.

Ultimately, these rising alts have reduced BTC’s dominance over the market to beneath 61%, after the metric neared 62% during the weekend.

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Bitcoin Reached 2% From ATH As Cardano (ADA) Now 4th Biggest Cryptocurrency

by CryptoPotatoFebruary 7, 2021

After another increase that took BTC to $41,000, the cryptocurrency has retraced beneath the coveted $40,000 level. The crypto market cap reached ATH above $1.2t but has retraced as most altcoins have also corrected slightly. Cardano is the main exception, with a massive 20% surge to a new 3-year high.

Bitcoin Touched $41K But Retraced

The primary cryptocurrency was gradually increasing in value since Monday’s dip until it broke above $37,000 a few days back. However, the bulls pulled it together at that point and drove BTC above $40,000.

Furthermore, bitcoin reached an intraday high of $41,000. Thus, the cryptocurrency came just $1,000 away from its ATH of $42,000 (roughly around 2%).

However, the bears intercepted the move at that point and didn’t allow another leg up. Just the opposite, BTC started to retrace to an intraday low of $38,000. Nevertheless, it has bounced off since then and reclaimed $39,000.

From a technical perspective, BTC would still have to overcome the resistance lines at $40,000, $40,735, and $41,000 before potentially challenging $42,000.

Alternatively, the support levels at $38,550 and $38,000 could assist in case the price falls again.

Cardano’s New Record While Alts Retrace

Most alternative coins marked serious gains in the past few days, which resulted in new all-time highs for Ethereum, Polkadot, and Binance Coin. Consequently, the total market cap also went for a record at $1.220 trillion.

However, the situation has changed to some extent in the past 24 hours. Ethereum has declined by over 2% and is currently beneath $1,650. Bitcoin Cash (-5%) is down below $460.

Chainlink (-4%), Polkadot (-2%), and Litecoin (-4%) are also in the red, while BNB and XRP have charted minor gains.

However, Cardano is the most significant gainer from the top 10 with a massive 23% surge. As a result, ADA has jumped to $0.67 – a new 3-year high for the token.

More gains are evident from Decentraland (30%), Dogecoin (21%), Quant (16%), Avalanche (16%), Huobi Token (14%), Elrond (14%), and Decred (13%).

In contrast, Nexo (-11%), FunFair (-10%), Alpha Finance Lab (-10%), 0x (-9%), Ampleforth (-8%), and Ren (-7.5%) have lost the most.

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Cryptocurrency charts by TradingView.

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