After yesterday’s minor price drops, most of the cryptocurrency market is in the green today. This includes a slight increase in bitcoin to over $ 47,000 and more impressive gains from Polkadot and Avalanche.
Bitcoin Stands Above $47K
As 2021 was coming close to its end, bitcoin seemed stuck around $47,000, but a sudden price pump drove it to above $48,500, as CryptoPotato reported on December 31st.
However, the landscape changed quite quickly in the hours that followed. Instead of plotting more gains, BTC reversed course and dumped $ 3,000. This resulted in a fall well below $ 46,000 which became the lowest price in 11 days.
Nevertheless, bitcoin started to reclaim some of its lost value in the past 24 hours. The bulls added over $1,000 within this timeframe, and BTC now stands well above $47,000 following a minor 24-hour increase. Consequently, the asset’s market capitalization is now at just under $900 billion.
Alts in green with DOT and AVAX Surging
Most of the larger cap altcoins have mimicked BTC’s performance lately, and the past 24 hours are no exception. Ethereum is only slightly higher on a daily scale, and the second largest crypto is still unable to recover $ 3,800.
Binance Coin is up by 1.5% and trades above $520. Similar gains are evident from Solana, Ripple, Terra, Dogecoin, Cardano, and Shiba Inu.
The two best performances of the biggest cap alts since yesterday are Polkadot and Avalanche. DOT rose nearly 6% and stands at almost $ 30, while AVAX jumped 5.5% and sits at $ 116.
More gains come from Revain (17%), Harmony (12%), ICP (12%), Curve DAO Token (11%), YFI (10%), and Fantom (10%).
The crypto market cap has grown from around $ 40 billion a day to around $ 2.2 trillion.
