Ethereum Painted New ATH Above $3,600 as Bitcoin Slided Below $56,000 (Market Watch)

By Jordan Lyanchev

Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin’s attempts to surge past $58,000 were quickly halted, and the cryptocurrency fell by roughly $3,000 in hours. Although some altcoins have also retraced on a 24-hour scale, this didn’t stop ETH and ADA from painting new all-time high records.

The Latest ATHs Among Altcoins

It’s safe to say that the alternative coins have enjoyed the past few weeks significantly more than their leader. Ethereum, on that matter, has been at the forefront.

The second-largest cryptocurrency has frequently broken into uncharted territory, and the past 24 hours didn’t disappoint. ETH spiked yet again to above $3,600 for its latest record. Nevertheless, the token has retraced slightly and currently sits around $3,450.

Cardano also went for a new ATH, as reported, which came at $1.7. Thus, ADA’s year-to-date gains exceeded 800%.

Litecoin is another impressive performer as of late, and LTC reached a record of its own at just over $370.

Bitcoin Cash (8%) and Polkadot (5%) have charted substantial gains in the past 24 hours and currently trade above $1,400 and $40, respectively. In contrast, Binance Coin (-3%) and Ripple (-1%) have retraced slightly.

Cryptocurrency Market Overview. Source: Quantify Crypto

Qtum has surged the most from the top 100 after a 72% increase to $32. Bitcoin Diamond (67%), Ethereum Classic (50%), EOS (40%), Lisk (35%), OMG Network (32%), Ontology (28%), BitTorrent (21%), Monero (20%), and more follow.

The cumulative market cap of all crypto assets also broke above a milestone for the first time. After adding more than $200 billion in two days, the metric tapped $2.4 trillion.

Bitcoin Calms at $56K

While some altcoins are heading into uncharted territory, the primary cryptocurrency has failed to produce any substantial gains. Two days ago, bitcoin had fallen below $53,000.

It seemed as the trend started to reverse shortly after as the bulls spiked the asset above $58,000 somewhat rapidly. As reported yesterday, BTC even surged to $58,400, but it failed to continue further.

Just the opposite, the cryptocurrency fell by more than $3,000 after another rejection. Despite recovering $1,000 since then, bitcoin is still roughly 2% down on a 24-hour scale.

BTC’s market dominance continues to suffer, and the metric is down to a new near 3-year low well beneath 45%.

BTCUSD. Source: TradingView