While Ethereum rose above $ 1,100, Binance Coin and Polkadot set new ATH records. BTC’s market dominance fell by 5% in one day.
After several days of BTC marching forward and altcoins lagging behind, the situation has completely changed in the past 24 hours. Massive double-digit gains for most alternative cryptocurrencies reduced BTC’s dominance to 68%, while its market cap exceeded $ 900 billion.
Pump action in the altcoin market
In the past few days, most altcoins have not been able to emulate Bitcoin’s impressive performance. As a result, BTC’s dominance over the market rose to about 73% at one point. However, this metric has dropped 5% in the past 24 hours following recent developments.
Ethereum led the altcoin surge in early 2021 with a massive 40% increase. ETH surpassed $ 1,000 and reached its highest price tag at over $ 1,150 in nearly three years.
Bitcoin Cash increased 25% to $ 445, Cardano (31%) to $ 0.23, Chainlink (25%) to $ 15 and Litecoin (21%) to $ 174.
Polkadot and Binance Coin broke their all-time high. BNB reached $ 44, while DOT saw a double digit price tag from $ 10.5.
Ripple rose 15% to $ 0.25 on a 24-hour scale. However, XRP is still down over 60% since mid-December.
Ethereum Classic (30%), OMG Network (30%), Aave (29%), VeChain (28%), Yearn.Finance (28%), Ampleforth (28%), Uniswap (27%), SwissBorg (25%) ) in the case of a few representatives of the double digit rise club with the rise.
Overall, the cumulative market cap of all cryptocurrencies has set a new record of around $ 910 billion. This means an increase of $ 150 billion since the beginning of 2021.