After several consecutive days of increasing in value, BTC’s price has finally calmed at just under $52,000.
Some altcoins have taken the torch, with BNB jumping above $350 and UNI gaining over 7% of value following the latest announcement by the team behind the DEX.
UNI Reigns Supreme
CryptoPotato reported earlier the big news coming from Uniswap as the team announced V4 launch details. Although there are some concerns about the so-called hooks, the protocol’s native cryptocurrency reacted well and has jumped by 7%. As a result, UNI now trades at $7.5.
Binance Coin, Ripple, Cardano, and Polygon are the other notable gainers from the larger-cap alts. BNB has jumped by 3% and now trades above $350 for the first time since the FTX-Binance saga in November 2022. XRP is up to $0.56, ADA is close to $0.6, and MATIC has gone above $0.9.
In contrast, Solana and Avalanche have retraced the most from this cohort of alts. Both assets are down by approximately 4% to $110 (SOL) and $40 (AVAX).
Despite some more retracements from the mid- and lower-cap alts, the total crypto market cap has maintained above $2 trillion on CoinGecko.
BTC Calms Below $52K
The primary cryptocurrency had a highly positive 10-day (or so) period, in which its price gained almost ten grand. It all started on February 9 when it finally broke out of $43,000 and jumped by $2,000 daily. The bulls kept the pressure on, and the asset found itself trading above $48,000 by the end of that week.
The start of the current one saw BTC jumping above $50,000 on Monday, a minor retracement, and another leg-up that pushed the cryptocurrency to over $51,000 and even $52,000 yesterday.
In fact, Bitcoin tapped $52,900 for the first time since late 2021 hours ago but was stopped before having the chance to challenge the $53,000 line. It was driven down by a grand and now trades under $52,000.
Nevertheless, its market cap is still above $1 trillion, but its dominance over the alts has retraced slightly to 49.7 on CoinGecko.
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