Cardano (ADA) Soars 9% Daily While Bitcoin (BTC) Nears $52K Again (Weekend Watch)

2 months ago 30

Bitcoin faced some untypical for the weekends volatility yesterday and dropped by roughly a grand and a half, but has recovered most losses and now sits close to $52,000.

Most altcoins have also turned green today, with ETH reclaiming the $2,800 level and SOL returning to $110.

BTC Heads Toward $52K Again

After closing last week with a 13% gain, BTC started the current one with another surge on Monday that drove it to $50,000 for the first time in over two years. The US CPI numbers on Tuesday brought some pain for the bulls as BTC dropped to $48,500, but that was short-lived, and the asset resumed its bullish trajectory almost immediately.

This led to breaking above $51,000 and $52,000 on Tuesday and Wednesday. Thursday saw yet more price gains, and BTC tapped $52,900 to chart a new multi-year peak.

This is where the rally was halted, at least for now. Bitcoin calmed in the following days, aside from a brief price drop yesterday that left $100 million in liquidations.

As of now, though, the cryptocurrency trades close to $52,000, with its market cap standing tall above $1 trillion and its dominance over the alts sitting close to 50% on CG.

ADA Takes the Main Stage

Most alternative coins also retraced yesterday but have erased the losses today. As a result, Ethereum has returned to over $2,800 after a minor daily jump. BNB, XRP, TRX, AVAX, and MATIC are up by similar percentages.

Solana has increased by over 1% as well and has tapped $110 once again. Polkadot, Chainlink, and Toncoin have added between 3-4% of value.

Cardano has taken the main stage with a notable increase of almost 9%. As a result, ADA has jumped above $0.6 and now sits close to $0.65.

Even more gains come from the likes of FET (20%), GRT (14%), RNDR (11%), BTT (11%), and INJ (10%).

The total crypto market cap has added a few billion overnight and is up to $2.050 trillion on CG.