After yesterday’s minor price drops, most of the cryptocurrency market is in the green today. This includes a slight increase in bitcoin to over $ 47,000 and more impressive gains from Polkadot and Avalanche.
Bitcoin exceeds $ 47,000
As 2021 drew to a close, bitcoin appeared to be stuck around $ 47,000, but a sudden price pump took it to over $ 48,500 because CryptoPotato communicated on December 31.
However, the landscape changed quite quickly in the hours that followed. Instead of plotting more gains, BTC reversed course and dumped $ 3,000. This resulted in a fall well below $ 46,000 which became the lowest price in 11 days.
Nonetheless, bitcoin has started to recover some of its lost value over the past 24 hours. The bulls have added over $ 1,000 during that time, and BTC is now well above $ 47,000 after a minor 24-hour increase. As a result, the market capitalization of the asset now sits at just under $ 900 billion.
Alts in green with DOT and AVAX Surging
Most of the larger cap altcoins have mimicked BTC’s performance lately, and the past 24 hours are no exception. Ethereum is only slightly higher on a daily scale, and the second largest crypto is still unable to recover $ 3,800.
Binance Coin is up 1.5% and trading above $ 520. Similar gains are evident for Solana, Ripple, Terra, Dogecoin, Cardano, and Shiba Inu.
The two best performances of the biggest cap alts since yesterday are Polkadot and Avalanche. DOT rose nearly 6% and stands at almost $ 30, while AVAX jumped 5.5% and sits at $ 116.
Other gains come from Revain (17%), Harmony (12%), ICP (12%), Curve DAO Token (11%), YFI (10%) and Fantom (10%).
The crypto market cap has grown from around $ 40 billion a day to around $ 2.2 trillion.
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