Wednesday in the whopping winnings of crypto, Bitcoin (BTC) was running hot from the previous day, making it as high as $59,750 before meeting resistance at the start of the day. In a rapid downfall, BTC went from $59,750 to $57,250 in only a matter of two hours. BTC would spend the next couple of hours trading sideways around $57,250, gradually making its way up to $57,500 before gearing up for its next leg-up. Just as suddenly as the “orange coin” had fallen, it skyrocketed to $59,450 where it would face resistance with half the day still ahead. After falling slightly to $59,000, then attempting to head back up to where it came from, BTC got rejected again, this time getting sent down to $58,650 by the start of the third quarter (13th to 18th hours). The Bitcoin bulls had not given up yet, however, as “Bit” made another push upwards, making it as high as $59,200 by the final quarter of the day. At this point, volatility was done with the “orange coin” for the night, as the asset started to gradually fall, dropping below $58,750 going into Thursday. After a tough day on the charts, BTC is still up 13% for the week, 19% for the month and 823% for the year, with a marketcap of roughly $1.1 trillion. Bitcoin dominance, meanwhile, dropped one whole percent since the day prior, currently at 57% versus all cryptoassets.
Just as BTC had done, ETH (ETH) started the day with a sudden and rapid fall after surpassing $1,850 towards the end of the previous day. After one hour into the new day, ETH was looking for support below $1,800, and finally found it it at $1,775 where the bulls came to the rescue. From there, it was all up-hill for ETH, with the second-largest cryptocurrency by marketcap making it as high as 1,900 in the second half of the day. There was no stopping on the way for rejections like Bitcoin did either, as ETH kept pumping with no signs of weakness until it reached $1,940 with less than half a day still left to go. ETH would spend the remainder of Wednesday trading in a tight channel around $1,900 going into Thursday. After gaining 24% for the week, ETH is up 25% for the month and a whopping 1,371% for the year, with a total marketcap of just over $226 billion.
With Bitcoin’s dominance starting to slip, altcoins took the opportunity to shine, as 90% of the projects from the Top-100 by marketcap closed Wednesday in the green. To make things better for the winning assets, 21 of those from that list ended the day up with double-digit percentage gains. The following is a list of the biggest winners on Wednesday, in order of largest sized marketcap assets first: Polkadot (DOT) went up 15%, Uniswap (UNI) ~ 10%, Filecoin (FIL) ~ 41%, Chainlink (LINK) ~ 15%, Tron (TRX) ~ 27%, EOS (EOS) ~ 19%, Tezos (XTZ) ~ 13%, NEO (NEO) ~ 20%, Synthetix (SNX) ~ 12%, Dash (DASH) ~ 10%, Compound (COMP) ~ 18%, Maker (MKR) ~ 15%, THORChain (RUNE) ~ 23%, Ethereum Classic (ETC) ~ 11%, 0x (ZRX) ~ 11%, UMA (UMA) ~ 10%, Arweave (AR) ~ 13%, Siacoin (SC) ~ 14%, DigiByte (DGB) ~ 15%, OMG Network (OMG) ~ 17%, Qtum (QTUM) ~ 27% and Mask Network (MASK) went up 12% going into Thursday. The total marketcap of all the cryptoassets, meanwhile, is up 4.3% in the last 24 hours and as high as ever, edging closer to the $2-trillion milestone, at roughly $1.94 trillion.
- BitcoinHasVolatileWednesdayLoses$1kAfterStartingTheDayCloseTo$60kBitcoinDominanceSlipsTo57%DownOneWholePercentSinceYesterday
- EtherDayNotAsVolatileAsBitcoinGains$50ForTheDayClosingAt$1,900NowUp24%ForTheWeek&25%ForTheMonthAnd1,371%ForTheYear
- AltcoinsPerformExceptionallyWellWednesdayMoreThan20ProjectsFromTop100endDayWithDoubleDigitGainsFILup41%in24hrs
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