Following yet another price surge in the past 24 hours, bitcoin neared and even briefly exceeded $48,000. Alternative coins are also well in the green, with ETH closing at $ 3,300. However, AXS is the most significant gainer once more, with a 50% surge to a new ATH.
Bitcoin mined $ 48,000
A lot can change in the cryptocurrency space in just a few days. Back on September 29th, bitcoin struggled with its third consecutive drop below $41,000.
However, the bulls intercepted the movement and pushed the asset north. In just a few hours, BTC had already added around $2,000 of value. That was not all, though. Promising news from the United States emerged when Fed Chairman Jerome Powell said the country had no plans to ban digital assets.
Bitcoin spiked to around $47,000 almost immediately, and it kept climbing in the following hours. It hit an intraday high of $ 48,500, which became the highest price since September 19.
Despite retracing below $48,000 as of now, its market capitalization has increased to $900 billion.
The alts see green again; AXS New ATH
Alternative coins suffered a lot until Wednesday as well, but like their leader, they rebounded quite well. Ethereum had fallen all the way down to $2,900. Now, however, ETH is trading around $ 400 more after another 9% increase in the past 24 hours.
Cardano (5%), Binance Coin (5.5%), Ripple (6.5%), Dogecoin (7%), Terra (2%), Avalanche (5%), and Uniswap (5%) are well in the green from the larger-cap alts. However, Solana and Polkadot all outperformed with substantial double-digit gains.
Axie Infinity has, once again, surged the most from the top 100 coins. Another 50% increase took AXS to $ 120, which is a new all-time high.
Revain (25%), Ren (21%), ICON (21%), THETA (20%), Elrond (20%), Flow (17%), Celsius (17%), Filecoin (17%), OKB (16%), and many more follow.
The cryptocurrency’s market cap has grown by around $ 200 billion since the recent low and currently stands at $ 2.1 trillion.
