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May 18, 2021
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Guide & Analysis

Bitcoin rises above $ 58K, ETH and BNB hit new historic highs

Crypto market capitalization expanded to $ 170 billion in two days, after bitcoin rose above $ 58,000. BNB and ETH marked new historic highs.

After several days of consolidation at around $ 55,000, bitcoin finally made a move and jumped to over $ 58,000. Despite new records for Ethereum and Binance Coin, BTC has managed to regain part of its recently lost market dominance.

Bitcoin values ​​$ 6,000 in two days

While the altcoin market was producing impressive price bombs recently, bitcoin seemed, at best, stagnant. The primary cryptocurrency had recovered from its fall in April, which left it below $ 50,000, but failed to increase to more than $ 55,000.

The bears used the BTC’s inability to escape and pushed it down again to around $ 52,000 on April 29. Since then, however, the trend has reversed and bitcoin has recovered a few thousand dollars in hours.

Consequently, the asset was traded at around $ 54,000 before finally making a notable bullish move. In a matter of hours, the cryptocurrency rose about $ 4,500 and reached its highest price since the April 18 market crash.

In its rise, bitcoin’s market capitalization solidified its position well above $ 1 trillion. In addition, BTC has recovered about 1% of its recently lost market dominance, which is now 49%.

New ATHs for BNB and ETH

As mentioned above, most altcoins have risen recently, none performing better than the second largest cryptocurrency. Ethereum scored new consecutive records last week.

In the past 24 hours, ETH has reached its most recent ATH of just over $ 2,870 (on Bitstamp). A similar development occurred with the third largest cryptocurrency by market value – Binance Coin. BNB flirted with $ 600 yesterday, but valued more than $ 40 in hours for a new record of around $ 645 (at Binance).

Ripple (4%), Polkadot (1.5%) and Bitcoin Cash (12%) also appreciated. However, Dogecoin performs best with a 15% increase. As a result, DOGE is now worth $ 0.35.

DigiByte (29%), Avalanche (22%), SwissBorg (17%), OKB (17%), Ren (15%), Compound (15%), Ethereum Classic (13%), Bitcoin SV (12%), Fantom (12%) and Reserve Rights (10%).

Ultimately, total market capitalization increased by $ 170 billion in two days and exceeded $ 2 trillion.

Source: CryptoPotato

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