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Saturday, April 13, 2024

Bitcoin Shoots Up to $44K, Solana and Cardano Lead the Altcoin Revival (Market Watch)

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Bitcoin’s consolidation at around $42,000 has finally ended, with the asset’s price jumping to almost $44,000.

Most alternative coins, such as Solana and Cardano, have followed suit, charting even more impressive gains than the primary cryptocurrency.

BTC Eyes the $44K Mark

The past weekend and the first day of the new week have been relatively quiet for Bitcoin, the price of which was hovering between $41,000 and $42,500.

However, the consolidation ended several hours ago when BTC pushed as high as $43,600 (per CoinGecko’s data). Shortly after, the asset’s value dropped a bit, standing at around $43,400 as of the moment of writing these lines.

BTC Price, Source: CoinGecko

As CryptoPotato reported, the latest push resulted in over $110 million in liquidations, with BTC trades comprising almost 40% of the total share.

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Bitcoin’s market capitalization briefly surged to almost $860 billion before retracing to its current level of $850 billion. Its dominance over the altcoins is 52.6% (a 3% increase on a weekly scale).

SOL and ADA Take the Main Stage

Most leading alternative coins have also impressed today (January 30). Solana (SOL) is up 6%, reclaiming the $100 target, while Cardano’s ADA eyes $0.53 with an 8% price spike.

Meanwhile, Sui (SUI) reached an all-time high of $1.64 following a partnership between Banxa and SUI Wallet. Its market cap soared to $1.8 billion, making it the 48th largest digital asset.

Other major alts, including Ethereum (ETH), Ripple (XRP), Avalanche (AVAX), Dogecoin (DOGE), Polkadot (DOT), and Polygon (MATIC) are also in the green, albeit in a more modest fashion.

The total cryptocurrency market capitalization has added approximately $50 billion in the past 24 hours, currently equaling $1.75 trillion.

Cryptocurrency Market Overview, Source: Quantify Crypto

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.

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