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An overview of the cryptocurrency market Thursday, March 11

An overview of the cryptocurrency market Thursday, March 11

Bitcoin, which was close to the last record set at around $ 1,000, was once again rejected and fell below $ 56,000. However, minor corrections among the Altcoins allowed BTC to regain some of its lost dominance in the market.

Bitcoin was only 2% away from its latest record

Over the past few days, the market's top cryptocurrency has been on the rise after falling to $ 47,000. On the other hand, as organizations became more interested in Bitcoin, its price rose.

The incident hit the $ 50,000 level again, but the cows did not stop at that level, pushing the cryptocurrency to its two-week high of about $ 57,000. According to data released by Bitstamp, the highest daily BTC rate yesterday was around $ 57,400. At this time, the distance between Bitcoin and its highest price level reached about $ 1,000 (1.75%). However, the currency failed to defend this level and reached the current level of $ 55647 following the latest price corrections.

What is remarkable is that the bitcoin market capitalization currently remains well above the $ 1 trillion mark.

Increasing bitcoin dominance

The value of more replacement coins increased with their leader. These developments led Atrium to cross the $ 1,800 mark with a $ 400 increase in one day. However, ETH has fallen slightly since yesterday and is below this sensitive level.

Cardano (-5%), Polkadot (-5%), Ripple (-5.2%), Chainlink (-5.8%) and Uniswap (-5%) have lost some of their value in the last 24 hours.

Binance Coin and Litecoin remain almost unchanged, trading at around $ 275 and $ 195, respectively.

As expected, the situation has been significantly more volatile among low and medium market value altcoins. Meanwhile, Theta Fuel had the best performance with 50% growth. It is followed by Hedera Hashgraph (25%), THETA (19%), Basic Attention Token (15%), Zilliqa (12%) and Bitcoin Gold (11%).

Polygon, on the other hand, fell 10 percent, the biggest drop since yesterday. Avalanche (-9%), Decentraland (-9%), Fantom (-6.5%) and PancakeSwap (-6%) are also in the next ranks.

The relative cessation of large market altcoins has helped bitcoin reassert its dominance in the cryptocurrency market. Thus, the benchmark for comparing the market value of BTC with other altcoins has reached above 61%.

11 March 21 ، 13:18 agreeین ۰ disagreeین ۰
rahathagh/راحت حق

Dogecoin (DOGE) or other digital currencies?

Dogecoin (DOGE) or other digital currencies?

SpaceX and Tesla CEO Ilan Musk took to Twitter to see how interesting Dogecoin (DOGE) is to people.

In the survey, Musk asked whether the future currency would be Dogecoin (DOGE) or other digital currencies in general.

At the time of writing, 72.5 percent have chosen Dogecoin (DOGE) and only 27.5 percent accept the other option.

The last time Musk tweeted about Dogecoin (DOGE) was on Thursday, when he called it the popular currency, boosting it by 50 percent to $ 0.559.

Of course, the effect of this pump did not last long and this currency entered the correction process. The Dogecoin (DOGE) is currently trading at $ 0.0485.

Is Mask disappointed with Bitcoin?

On January 29, at the height of the US stock market controversy, Ilan Mask posted the word bitcoin on his bio Twitter.

On the same day, he announced that Bitcoin is a very good currency and confirmed that he supports it.

That led to a 20 percent increase in bitcoin, from $ 32,000 to $ 38,500.

Like Dogecoin (DOGE) , the mask's effect on Bitcoin did not last, and the currency returned to $ 35,000.

However, on February 4, when Ilan Musk tweeted again about his favorite currency, DOGE, he removed bitcoin from his bio.

The world's largest digital currency crossed the $ 39,000 mark on Friday and is currently hovering at $ 39,387.

06 February 21 ، 12:55 agreeین ۰ disagreeین ۰
rahathagh/راحت حق