Cardano Breaks $2 As BTC Struggles Near $50,000 Over The Weekend

Cardano breaks $2 as BTC struggles near the $50,000 over the weekend with ADA marking another all-time high for the first time as we can see more in our latest Cardano ADA news.

The Elon Musk-spiked market crash continued haunting BTC as the asset failed to overcome the $50,000 level but the altcoins eared up the dominance with some strong gains. Cardano is now among the top performers over the past few days and the latest surge drove ADA above $2 for the first time. The rest of the coins took the market crash better than BTC did but almost all of them dumped initially and recovered together in a few hours.

Cardano was the main example as ADA bounced off to its pre-crash level but the cryptocurrency kept on climbing higher and broke the previous ATH setting a new one at $1.86 a few days ago but it wasn’t enough for the coin so it kept on rising. Cardano breaks $2 for the first time a few hours ago and went to break the record above $2.20. with the latest increase, ADA reentered the top 5 biggest cryptocurrency by market cap and it is close to overcoming DOGE too.

The meme coin got up by 2% in one day while ETH dumped to $3600 during the crash but managed to recover slightly and now stands above $4000. Binance Coin hasn’t reclaimed the round-numbered milestone and it is below $600. Ripple is up 2% while DOT surged from the top 10 after a 20% increase. As a result, DOT got closer to $50 while further gains came from Polygon 56%, Sushi by 20%, and Ethereum Classic by 18%. the entire crypto market cap remained above $2.3 trillion while BTC struggles below and the dominance fades away.

BTC was hurt after Elon Musk’s announcement that Tesla halted BTC payments for its car purchases and in less than a day of the announcement, BTC dropped from $58,000 to a 2-month low below $47,000. Since then, BTC reclaimed some ground and breached $50K and $51K a few times. Each attempt was short-lived and the coin dropped below the $50K level. In the past 24 hours, BTC struggled more. The altcoins continued reducing BTC’s market dominance and the metric comparing Bitcoin’s market cap to the rest of the assets is down by 40% for the first time in three years.

Bitcoin was badly hurt after Elon Musk’s announcement that Tesla had stopped receiving BTC payments for its electric vehicles.
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In less than a day, the primary cryptocurrency fell from $58,000 to a 2-month low beneath $47,000.