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Market Watch: Ethereum Breaks ATH and Retraces, Binance Coin Soars 8%

After another day of enhanced volatility, bitcoin touched $63,000 but has retraced with a few thousand dollars since. Ethereum marked another all-time high above $4,400 before correcting as well, while Binance Coin has surged to north of $500.

ETH’s Latest ATH: BNB Up 8%

Ever since BTC tapped its new all-time high last week at $67,000, all eyes in the cryptocurrency community were on the second-largest digital asset whether it could do the same. And it took ETH more than a week, but it finally did it, as reported yesterday.

However, Ethereum wasn’t done at $4,400 and initiated another leg up hours later. This time, the asset went as high as $4,460 (on Bitstamp), which is the newest price record. As of now, though, ETH has slid slightly, but it’s still above $4,300.

Binance Coin is the most significant gainer from the larger-cap altcoins in the past 24 hours. BNB is up by 8% and has surged above $530 for the first time in months.

Minor gains are evident from Ripple, Polkadot, and Terra, while Solana, Dogecoin, Avalanche, and Chainlink are slightly in the red.

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The top 100 coins, though, have a new representative, and it comes from the meme coin mania. Dogelon Mars has skyrocketed by 175% in a day and 360% in a week to $0.00000223.

Decentraland (32%), BitTorrent (13%), THORChain (13%), and Tron (10%) have also marked substantial price increases.

The cryptocurrency market capitalization is up by $40 billion since yesterday and is well above $2.6 trillion.

Market Watch: Ethereum Breaks ATH and Retraces, Binance Coin Soars 8%

Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin Failed at $63K

The primary cryptocurrency also initiated a leg up in the past 24 hours. After yesterday’s sudden massive price drop to a two-week low of $56,500, bitcoin had recovered and traded above $60,000 for several hours.

It went on the offensive with most of the market and added roughly $2,000. As such, it tapped $63,000 for the first time in several days.

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However, it failed to continue upwards. The bears came back to play and pushed it south gradually. As of now, BTC stands at $61,500, but its market capitalization is north of $1.150 trillion.

Market Watch: Ethereum Breaks ATH and Retraces, Binance Coin Soars 8%

BTCUSD. Source: TradingView


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Tags: Binance Coin (BNB) Price Bitcoin (BTC) Price Ethereum (ETH) Price

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