As Bitcoin struggles after failing to break past $46K, Avalanche has exploded by 30% towards another ATH.
Bitcoin appears to calm near the $45,000 level after the previous roller-coaster movements that had it plunging to $44K and rising to $46K. Most alternative assets trade slightly high on a daily scale, but some registered impressive upticks. Avalanche (AVAX) is among the tokens that exploded over the past 24 hours despite the market struggles. AVAX gained over 30% to attain another record high.
AVAX Attains an ATH as Alts Recover
Most top cryptocurrencies mimicked Bitcoin movements over the last few days. Ethereum saw plunges during the latest crash. The leading alt tried a quick recovery but failed to surge past $3,600. Ethereum endured gradual losses in the following days, plunging under $3,300. At the moment, ETH hovers over this level after gaining around 2%.
Cardano has gained over 6% to reclaim $2.5. That can be due to its awaited Alonzo updated scheduled for today. Other assets that dipped their feet in green since yesterday include BNB (1%), XRP (1%), DOGE (0.5%), LINK (2%), and UNI (1%).
DOT (9%) and LUNA (8.1%) registered impressive rallies as AVAX outperformed the entire cryptocurrencies. AVAX surged 32%, approaching a new ATH over $64. Other lesser-known tokens that experienced heightened gains include Kusama (8%), Elrond (10%), Hedera Hashgraph (10%), and OMG Network (11%).
BTC Maintains at $45K
The dominant digital asset, Bitcoin, has seen unstable price actions since the sudden crash on Tuesday. That had Bitcoin losing $10K in some few hours. However, the asset bounced within no time towards $46,000. That was after the dramatic plunges had the crypto dropping from $53K to $43K.
Bitcoin saw consolidation the following days before another trial to overpower the $47K level. However, the opposite happened. Bears took over the market, driving Bitcoin south once more. The past 24 hours had BTC plunging towards $44K before gaining $2,000 to face the rejection at $46K.
While writing this article, Bitcoin retraced to maintain at the $45,000 levels as its market cap hovers at $850 billion. The mixed price reactions had the leading cryptocurrency drop its market dominance to 41%.
Stay around for the latest updates in the crypto market.