Altcoin Madness: BNB Soars to $300, Litecoin Skyrockets 27% Daily (Market Watch)

Read full article at CryptoPotato.

After several days of charting new lows, bitcoin finally bounced off and added over 5% of value on a daily scale.

However, most altcoins have outperformed the largest crypto. Massive daily increases are evident from BNB, LTC, and others.

Altcoins on the Rise

The past several days didn’t go all that well for the cryptocurrency market, but the tides have changed now. Ethereum had dipped from over $1,200 to a multi-week low of under $1,100. Now, though, the second-largest crypto trades close to $1,200 once more, following a 7% daily increase.

Binance Coin has soared by almost 20% as the exchange announced the latest Launchpad listing. As such, BNB stands close to $300.

Ripple, Dogecoin, Cardano, Polygon, Polkadot, OKB, Shiba Inu, LEO, Avalanche, and Chainlink have also marked impressive daily increases.

Litecoin has stolen the show from the larger-cap alts with a notable 25% surge. Consequently, the asset has hit a 6-month high at $80.

With most lower- and mid-cap alts charting impressive gains as well, the overall crypto market cap has added almost $60 billion in a day. The metric, which fell below $800 billion yesterday, it close to $830 billion now.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin Bounces 5%

The primary cryptocurrency had also fallen hard since the start of the working week after trading sideways for most of the weekend. On Monday, the asset dropped from almost $17,000 to $16,000 before the bears drove it further south to $15,600 on Tuesday.

After charting a new two-year low, though, the bulls have stepped up and pushed BTC north. This has resulted in a 5.5% daily increase, which has taken bitcoin back up to $16,500.

As such, its market cap has managed to defend the $300 billion level and now sits close to $320 billion. However, its dominance over the altcoins has been hit hard.

The metric was at almost 39% yesterday but has dropped to 38.5% now, following the massive gains from the alts.

BTCUSD. Source: TradingView

The post Altcoin Madness: BNB Soars to $300, Litecoin Skyrockets 27% Daily (Market Watch) appeared first on CryptoPotato.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency