The Crypto Market Cap Recovered $200B, BTC Reclaims $50K

The crypto market cap recovered $200 billion in one day and Bitcoin managed to reclaim the $50,000 price level, with most coins charting impressive gains so let’s read more in today’s cryptocurrency latest news.

Following the latest price drop when BTC dumped below $50,000, the crypto finally bounced off and reclaimed the level while the alternative coins were also in the green and got some impressive gains most evidently from Cardano, Ethereum, Solana, Polkadot, Avalanche, and more but if you want to see the real-time value of Ethereum, make sure to check out our ethereum price calculator. The past few days didn’t go well for the main cryptocurrency because the asset dropped by $16,000 in a matter of a few hours to a month-low of $42,000. BTC tried to recover over the weekend with a boost towards $50,000 but the bears didn’t allow a price jump over the level so the subsequent rejection only pushed it to $47,000 again.

The bullish stepped up since then and as a result, BTC initiated an impressive price boost as it reclaimed $50,000 so it now stands above $51,000. This means that the asset is up by more than $4000 since a day ago. The crypto market cap recovered $200 billion in one day and neared the $1 trillion mark once more while the dominance over the altcoins reduced to over 40%. The alternative coins suffered in the crash over the weekend and yesterday. Today, however, most surged thanks to the ethereum rally which added another 10% to its price. ETH is now sitting above $4,400 while it was set at $3,500 on Saturday.

Binance Coin added another 5.5% value in one day and is close to $600 with more gains being evident from Solana that increase 11%, Polkadot by 10.5%, SHIB by 11%, Avalanche by 18%, and Doge by 10%. Ripple increased by 8.5% and now stands at $0.80 and Terra also got into the green thanks to a 7.5% rise which led the LUNA token to reach $70. BitTorrent is the most significant gainer with a 55% gain on a daily scale after the project announced the date for the mainnet launch. Bitcoin SV increased by 30%, Loopring by 32%, Kadena by 24%, Fantom by 22%, and CRO by 20%. The Entire market added another $200 billion and now sits at $2.4 trillion.

Source: https://www.dcforecasts.com/altcoin-news/the-crypto-market-cap-recovered-200b-btc-reclaims-50k/