Bitcoin Reclaims $47K: Solana (SOL) Surges 22% to New All-time High (Market Watch)

2021-09-03 23:51:46 Primitive Reading

Bitcoin continued to trade around the $47,000 line in the past 24 hours after it dropped to a weekly low beneath $46,400. Most altcoins have stalled since yesterday, except for Solana. SOL has gone on to chart another all-time high above $83 after a double-digit surge.

SOL’s Latest ATH

The alternative coins, similarly to their leader, lost significant chunks of value in the past few days. Ethereum, for example, went from about $3,360 to beneath $3,100. As of now, it has recovered some ground and currently stands above $3,100.

Cardano, which painted consecutive all-time highs recently and surpassed BTC in terms of Twitter mentions, also corrected considerably. It’s slightly in the green since yesterday and sits at $2.6.

Binance Coin, Ripple, and Dogecoin have charted minor losses once again, while Polkadot and Uniswap are slightly in the green.

LUNA has surged by 9% and has neared $30. Nevertheless, Solana has stolen the show once more and has skyrocketed by more than 20% in a day. As a result, SOL resumed its recent bull run and charted yet another all-time high hours ago.

Cryptocurrency Market Overview. Source: Quantify Crypto

Arweave is another significant gainer with an 18% increase in a day. In contrast, Decentraland, Dash, and XinFin Network have all lost about 7% of value since yesterday.

Despite the fluctuations, the market capitalization has remained just over $2 trillion.

Bitcoin Taps $47K Again

The primary cryptocurrency also dipped in the past few days. It reached a multi-month high above $50,000 on Monday and even stood north of that level for a while.

However, the bears didn’t allow any further increases. Just the opposite, they put pressure on the asset, and BTC started to dump rather rapidly. In a matter of hours, it lost the $50,000 mark, kept nosediving to a daily low of $46,300 (on Bitstamp).

Since then, it has reclaimed some ground and mainly stood around $47,000. As of now, it has reclaimed that level and trades above it.

Nevertheless, bitcoin’s market capitalization is still below $900 billion, but its dominance over the alts has increased slightly to just over 44%.

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