Credit: Original article published by CryptoPotato.

After the latest price record above $57,500 and a subsequent sharp drop to $54,000, bitcoin has calmed around the $56K price mark (as of now). Most alternative coins have charted declines over the past 24 hours, except for UNI, which painted a new ATH north of $32.

Bitcoin Stalls After The Latest ATH Set At $57.5K

The past week was quite positive for the primary cryptocurrency as it recovered from the brief dip to $46,000 decisively. In the following days, the asset gained more than $11,000 of value, which resulted in several consecutive price records.

These developments led to yesterday’s latest impressive leg up that started from approximately $55,000 and ended with a high of over $57,500, according to Bitstamp.

As sometimes happen in crypto, the record was followed by a sharp price dip to $54,000 on most crypto exchanges, but bitcoin managed to bounce off immediately and currently sits around $56K.

Ultimately, BTC’s market capitalization has maintained the $1 trillion mark, while the asset’s dominance over the market has increased slightly to 61.5% as most altcoins have painted red in the past 24 hours.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Larger-cap Alts in Red: UNI (Uniswap) Sees New Record, ETH Below $2K

Most of the altcoin field was on an impressive roll in the past several days, perhaps none more remarkable than Binance Coin (BNB). The cryptocurrency had gained triple-digit percentages in seven days, resulting in a new ATH at about $350. Just for reference, BNB traded at $40 less than a month ago!

However, Binance’s native crypto started retracing yesterday and has lost nearly $100 of value to $260. Ethereum (-4%) dipped below $2000 after failing to close a daily candle above the milestone level, Ripple (-7.5%), Litecoin (-8%), and Bitcoin Cash (-8%) are also well in the red from the top 10 alts by market cap.

Polkadot reached a new record above $40 yesterday, and for a short while even replaced BNB on the top 3 list, but has stalled since then and currently trades beneath that level. Cardano (ADA) is the most impressive gainer, with a 6% increase to $1.12.

Nevertheless, UNI has added the most value on a 24-hour scale from the large-cap altcoins with a 25% surge. As a result, Uniswap’s governance token registered a fresh price record of over $32 earlier today and the asset became the 12th largest crypto by market cap.

Cryptocurrency Market Overview. Source: Quantify Crypto

The situation among the lower-cap altcoins is slightly more positive. Pundi X leads with a 55% increase, followed by Flow (20%), Voyager (19%), BitTorrent (17%), and Ontology (14%).

In contrast, Quant has lost the most value (-13%). Ren (-11%), Solana (-9%), Monero (-9%), and EOS (-9%) are next.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency



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