Market Watch: Bitcoin Sets ATH Above $52.5K As BNB Skyrockets 50% In Hours

The past 24 hours brought more fresh records in the crypto field, starting with BTC breaking above $52,500 for a new all-time high. Numerous altcoins followed their leader, including Ethereum (above $1,900) and Binance Coin north of $180.

Bitcoin Sees Another ATH

Ever since dipping to $46,000 on Monday, bitcoin has been on a tear as it broke its all-time high records on several occasions.

As reported earlier this week, BTC spiked above $50,000 for the first time and hasn’t looked back since. In fact, it only intensified its gains as the $51,000 price tag fell somewhat quickly.

Bitcoin continued its march upwards in the past 24 hours by conquering $52,000 and reaching its latest all-time high above $52,600 (on Bitstamp).

With this record, BTC came just $20 billion away from topping $1 trillion for its market capitalization. Nevertheless, bitcoin’s dominance has fallen again to 61% after yesterday’s brief increase, as the altcoins have joined the party.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

New Records In The Altcoin Field

As mentioned above, most alternative coins stalled yesterday compared to their leader, but they have come on board on the bull train in the past 24 hours. Ethereum leads with a 6% increase. CryptoPotato reported ETH’s newest ATH, which came at about $1,920.

Binance Coin is another record-breaker. BNB has skyrocketed by almost 50% since yesterday and broke above $180. It has retraced a bit from its intraday peak but is still trading hot. The asset is up by 350% since January 27th, when it dabbled with $40.

Polkadot (3%), Cardano (10%), Ripple (4%), Litecoin (6%), and Bitcoin Cash (1.5%) are also in the green from the top 10.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Some lower- and mid-cap altcoins have also added impressive chunks of value. Bancor (40%), Venus (34%), Horizen (33%), PancakeSwap (33%), Fantom (26%), and Polygon (25%) lead.

Naturally, all of these gains meant a new record for the total market cap as well. The cumulative market capitalization of all cryptocurrency assets came just shy of $1.6 trillion. The metric is up by more than $700 billion since mid-January.

Crypto Market Cap. Source: CoinMarketCap
Crypto Market Cap. Source: CoinMarketCap

 

Source: Crypto Potato