Bitcoin and many other altcoins are in the green as the worldwide crypto market cap sees a six-month high of $1.66 trillion. Bullish Bitcoin investors have continued their offensive is the last day, causing the flagship cryptocurrency to make impressive gains. Bitcoin prices are now at $42,000, which is a new 2-month high. Meanwhile, altcoins are outperforming Bitcoin. This includes Ether, Binance Coin, and Polkadot, which saw impressive gains of more than 16 percent in a day.
Altcoins are in the green, and while most of them were stagnant yesterday, they’re improving today. Ethereum was trading at almost $2,450 but it saw a 6 percent increase meant it went up to $2,600. In fact, it went as high as $2,650 earlier today, making it its highest price tag since mid-June.
The Binance Coin has showed sluggish performance recently, considering all the regulatory issues surrounding Binance, the leading currency exchange. But even so, their coin saw a 7 percent increase in one day. It exceeded $340 for the first time in a few months.
Other altcoins are in the green as well, such as Litecoin, Chainlink, Bitcoin Cash, Uniswap, Dogecoin, Ripple, and Cardano. ChainLink is performing fairly well, seeing gains of 6.5 percent in the last week. Polkadot saw the biggest gains among major altcoins. Seeing a 16 percent surge, the DOT token is selling for well above $18.
Another altcoin showing impressive growth is Siacoin, showing the most out of 100 coins. Thanks to a 37 percent increase, the token is seeing prices of $0.02. Next up, there was Quant, which saw a surge of 27 percent, and then IOTA, which grew by 19 percent.
As a result, the overall crypto market cap of all assets has reached a peak of $1.66 trillion. This implies the metric rising by $40 billion in a single day and $140 billion in two days. Bitcoin traders are having a blast as the leading cryptocurrency races past $40,000. It looks like it’s recovering from dropping below $30,000. Since then, it gained $10,000 in value and is charging forward.
Since its mid-May crash, Bitcoin achieved its highest value of $42,300. But a few hours later, it went down up a few notches, with the new two-month high becoming $42,700. Currently, it has retraced by almost $1,000, and its market cap is just short of $800 billion. But at the same time, its market dominance has fallen by 1 percent in 24 hours. It seems like the reason for this is that altcoins are gaining more attention from crypto enthusiasts.