Bitcoin has been making waves in the market over the last few days. Bitcoin had a price of $51,729.03 on Monday. This was a 3.40 per cent upward move over the last 24 hours. The coin has been trading in the green over the last 24 hours as well. In terms of its performance over the course of the week, the leading crypto coin has been trading in the green as well. Bitcoin has been trading up at 6.58 per cent over the last seven days. It also maintains a market cap of $972.63 billion. The cryptocurrency has also managed to produce a market dominance of 41.63 per cent, which is a 0.29 per cent increase over the last day, according to data gathered from CoinMarketCap.com. Bitcoin finally breached the much-awaited $51,000-mark, and now faces its next stiff psychological resistance at $55,000. The asset’s rally has also been supported by good volumes and momentum, which is always a reassuring sign.
Speaking on Bitcoin’s performance, Edul Patel, CEO and Co-founder of Mudrex said, “Although the crypto markets were a bit shaky initially during the weekend, the bulls maintained their foothold towards the latter half. Bitcoin staying solidly above the $50,000 mark signalled a steady momentum to the top 10 cryptocurrencies by market cap.”
The majority of the top altcoins in the market were trading green. The second top coin, Ethereum, was trading at $3,920.28 on Monday. This was an upward trend of 0.54 per cent over the last 24 hours. The digital asset was trading at 22.15 per cent over the last seven days and had a market cap of $460.33 billion. The third strongest coin on the market is currently Cardano, which has a price of $2.89. It was also trading green at 0.00 per cent over the course of the day. Over the course of the week, the coin was trading at 1.08 per cent. Binance Coin used to hold the number three spot on the list but it slipped down to fourth a while back. The most recent price of that coin at the time of this article was $498.47, which was a 0.21 per cent move up over the day. It also displayed a 4.12 per cent move up over the last seven days.
“The largest Altcoin, Ether, moved closer towards the $4,000 mark. ETH consolidating around the current price point for the past few days indicates that the largest Altcoin might be gearing up for another big move. Ethereum’s closest competitor, Solana, had a dream run over the past couple of weeks. However, SOL witnessed some sell-off over the weekend. This week could be an interesting one for the Altcoins if the bullish momentum in the market persists,” said Patel.
The global crypto market cap was listed as standing at $2.34 trillion, which was a 2.39 per cent increase over the last day. The total crypto market volume over the last 24 hours was $117.93 billion according to data from CoinMarketCap. This indicated a 6.40 per cent decrease. The total volume in DeFi was at $15.15 billion, which was essentially 12.85 per cent of the total crypto market’s 24-hour volume. The volume of all stable coins was, at the time of this article, $88.07 billion, which is 74.68 per cent of the total crypto market 24-hour volume.
Talking about the global market, Patel said, “The global cryptocurrency market cap stood at $2.30 trillion, marking a significant increase on a week-to-week basis. There was a marginal drop in the traded volumes, as is expected over the weekend.”
Here are the top cryptocurrencies and their prices on September 06, 2021 (data from coinmarketcap.com while publishing the article)
Bitcoin $51,729.03 or (+3.40 per cent) change in 24 hours
Ethereum $3,920.28 or (+0.54 per cent) change in 24 hours
Cardano $2.89 or (+0.00 per cent) change in 24 hours
Binance Coin $498.47 or (+0.21 per cent) change in 24 hours
Tether $1.00 or (+0.00 per cent) change in 24 hours
XRP $1.32 or (+5.01 per cent) change in 24 hours
Solana $141.84 or (-0.82 per cent) change in 24 hours
Dogecoin $0.3123 or (+3.29 per cent) change in 24 hours
Polkadot $33.81 or (+3.85 per cent) change in 24 hours
USD Coin $0.9997 or (-0.00 per cent) change in last 24 hours
Uniswap $29.65 or (+3.01 per cent) change in 24 hours
Litecoin $224.74 or (+3.36 per cent) change in 24 hours
Chainlink $33.01 or (+9.83 per cent) change in 24 hours
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