Market Watch: BTC Tests $61K While BNB Skyrockets 150% in 2 Weeks

Bitcoin’s prolonged story with the $60,000 price mark continues as the asset has spiked above it once again. However, its dominance keeps suffering as some altcoins have marked substantial gains. Binance Coin stands out with a massive double-digit price surge and yet another ATH at above $570.

Bitcoin Flirts With $60K Again

The primary cryptocurrency continues its fight with its round-numbered nemesis $60,000. As reported on Saturday, it seemed that the asset’s struggles were finally behind it as BTC spiked above it and even reached a 3-week high of $61,200.

However, Sunday turned out to be a different story as bitcoin rapidly retraced and even dumped to a daily low of $58,500. Nevertheless, the bulls have retaken charge and pushed the cryptocurrency north.

In the past 24 hours, bitcoin continued flirting with that line as it popped up to an intraday high of roughly $60,700 (on Bitstamp). Following a few more swings and dips beneath $60,000, BTC has jumped back above it and currently stands a few hundred dollars over that coveted level.

Despite its 1.5% daily increase, though, bitcoin’s dominance has suffered again. After reaching 2-year low days ago, the metric comparing BTC’s market cap with all other cryptocurrency assets has slumped even more to around 54%.

photo_2021-04-12_10-11-55 (2)BTC/USD. Source: TradingView

Binance Coin in a League of its Own

The situation of most alternative coins is somewhat similar. Ethereum leads with a similar increase to bitcoin (2.4%) and currently stands around $2,190.

Polkadot (2.7%), Uniswap (8.7%), Chainlink (4%) are in the green, while Ripple (-4.5%) and Stellar (-6.6%) are in the red.

As it has happened frequently in the past week or so, Binance Coin’s performance has trumped all other large-cap alternative coins.

Whether it’s the anticipation of the 15th BNB burn that Binance’s CEO CZ outlined yesterday or something else, the token has added another 20% of value in a day (and 65% in a week). Consequently, BNB has marked yet another ATH at about $575.

It’s worth noting that less than three weeks ago – on March 25th – BNB had fallen to $225, meaning a 155% surge in 18 days.


Similar bullish developments are evident for Voyager Token (33%), KuCoin Token (27%), Pancake Swap (15%), BTMX (15%), Holo (14%), Huobi Token (13%), Decentraland (12%), and Dogecoin (11%).

The cumulative market cap of all digital assets has added $80 billion since yesterday’s low and has neared $2.1 trillion once more.

Publication date: 
04/12/2021 - 07:00

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