Fantom and NEAR tokens surge 20% becoming the biggest gainers on a daily scale while Bitcoin continues its consolidation period so let’s read more today in our altcoin latest news.
Bitcoin’s adverse price movements over the past day maintained the coin below $47,000 while the most larger-cap altcoins are in the red as well. However, Fantom and NEAR went on a tear with a strogn 20% surge in price. Most larger-cap altcoins failed to produce any major price gains lately and Ethereum remains the prime example as it traded above $4000 a week ago. However, it started to drop in value gradually and now stands below $3800 after another drop by 1% from a day ago.
Binance Coin dropped by 2.5%, Solana followed, Cardano dropped by 2.2%, Luna by 4.5%, Ripple by 1%, Dogecoin also by 1%, SHIB by 2.5%, Avalanche by 5.5%, and MATIC by 2%, all in the red. Polkadot is the only exception from the top 10 as it increased by 2%. The situation with the lower cap altcoins is different.
Fantom and NERA stole the show over the past day and made 20% increases. NEAR stands at $17 and FTM is near $3. more daily increases came from Ravencoin which increased 17%, Secret by 12%, Tezos by 11%, Velas by 14%, CURVE DAO by 11%, and others as well. The crypto market cap remained above $2.2 trillion but it is down by $30 billion in one day. The main cryptocurrency had an adverse price development in the past few days and it shot up suddenly on December 31st before dumping $3000 in a few hours to below $46,000.
It started the New Year on a positive note and neared $48,000 on two separate occasions. However, it failed to breach the line and the rejection drove it south to $47,000 where it remained for a while. The bears have it in control as they pushed BTC down again to an intraday low of $45,800 and now BTC bounced off and reclaimed $46,000 but it is still in the red on a daily scale. As a result, the asset’s market cap remained well below $900 billion.
As recently reported, Bitcoin dropped more than 6% over the past week and it was down by 1% on the first day of 2022. The biggest cryptocurrency by market cap is hovering near $47,000 at the time of writing but at this time last year Bitcoin was set at $32,780. Bitcoin hit a slight high after Christmas when it soared to its highest price in three weeks from the $52,050 level.
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