August 9, 2022

While Bitcoin Maintains $50K, Bitcoin Cash ABC Up 50% (Market Watch)

2 min read

Despite retracing after the latest two-week high by numerous hundred dollars, bitcoin has remained above $50,000. Most altcoins are also a little at a loss following yesterday’s gains, with a few exceptions, such as Bitcoin Cash ABC, which is up by 50%.

Bitcoin Maintains $50K

Following a few consecutive weeks of consistent rate drops, bitcoin lastly initiated a remarkable leg up the other day, in which it broke above $50,000. Additionally, the cryptocurrency kept going upwards in the following hours and tapped a new two-week high of practically $52,000.

However, BTC stopped working to continue north as the bears stepped up. They pressed it south, however bitcoin still stands at around $51,000. It’s worth noting that the asset was not able to trade above $50,000 for two days in a row because the early December cost crash.

The current cost level means that BTC’s market capitalization has actually stayed above $950 billion, while the supremacy over the altcoins is at 40.6%.

BTCUSD. Source: TradingView

BTCUSD. Source: TradingView Alts Stall as BCHA Spikes The alternative coins likewise registered significant gains the other day. Ethereum led the charge with a surge above$4,100 simply a couple of days after the possession had a hard time below$3,800. A small decrease ever since, however, has actually driven ETH to just shy of $4,100.

Binance Coin has stayed relatively still at nearly $550. More minor losses come from Cardano, Terra, Polkadot, Shiba Inu, Litecoin, and Chainlink, while Ripple, Avalanche, and MATIC have actually dropped slightly more.

Solana, Dogecoin, and CRO, on the other hand, are in the green. SOL has surged by 2% to above $190, DOGE is up by more than 5% to $0.19, and CRO’s 7.5% increase has driven it to $0.65.

Nonetheless, Bitcoin Cash ABC is the most significant gainer from the leading 100 coins with a 50% rise to above $100.

The cryptocurrency market capitalization has decreased a little and is under $2.4 trillion now.

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