Ethereum Retests $1,600, ApeCoin Skyrockets 17% Daily (Market Watch)

Yesterday’s retracement was only temporary as bitcoin surged to above $23,000. Altcoins are even better, with ETH climbing 8% and ApeCoin leaping by double digits.

Bitcoin Reclaims $23K

Bitcoin’s recovery from July 13’s sub-$19,000 plunge was quite positive over the last week. The asset soared to $20,000. As weekend approached, It entered Monday at $22,000, a much higher level than the previous weekends.

The cryptocurrency experienced a slight retracement on July 19 and then began to rise again, culminating in a huge surge of over $24,000. This was the highest price it had seen in more than a month.

BTC fell by nearly $2,000 in the hours that followed, however, as BTC was retraced after news broke that Tesla had sold $1 billion of its bitcoin holdings during Q2.

This asset bounced back well and now trades at about $1,000 above its previous level. Its market cap is now close to $450 billion. However, its dominance over altcoins has fallen below 42%.

BTCUSD. Source: TradingView

ETH, ApeCoin Explode

BTC’s dominance is declining, but bitcoin’s price has risen. This means that alternative coins have performed better.

Ethereum is one of the most popular examples. In the last ten days, Ethereum has been on a roll and yesterday’s retracement was erased. ETH trades at $1,600 and is up more than 8% daily.

BNB gained about 5% in one day to reach $270. Ripple and Tron, Cardano and Solana, Dogecoins, Dogecoins, Polygon, Shiba Iu, Polkadots, Avalanche, Tron, and Solana all jumped in the same fashion.

Many altcoins of lower and mid-cap are seeing increases between 5% to 10%. ApeCoin is the best performer with a huge 17.5% increase in one day. APE is now close to $7.

The total market cap for all crypto assets is over $1.050 trillion and has grown to $40 billion per day.

Cryptocurrency Market Overview. Source: Quantify Crypto
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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