Ethereum Jumped to 10-Day Highs, Shiba Inu Soars 15% (Weekend Watch)

Bit­coin has been rel­a­tive­ly calm in the past 24 hours but has remained just over the $21,000 mark. More actions come from some of the alt­coins, such as ETH, which has jumped to a 10-day high. Shi­ba Inu, on the oth­er hand, is the most sub­stan­tial dai­ly gainer.

ETH, SHIB, SOL on a Roll

The alter­na­tive coins have been recov­er­ing some of their recent­ly lost val­ue more impres­sive­ly than BTC in the past sev­er­al days.

Ethereum is a prime exam­ple as it cur­rent­ly trades above $1,200 (at a 10-day high) fol­low­ing an 8% increase in a day. Just a week ago, ETH had plunged to $900.

BNB has tapped $240 after a dai­ly jump of 4%. Sim­i­lar gains are evi­dent from Car­dano, Polka­dot, Doge­coin, TRON, and MATIC.

Solana and Avalanche have soared by about 10% once again. As a result, SOL is well above $40, while AVAX has reclaimed $20.

Shi­ba Inu is the most impres­sive per­former from the larg­er-cap alts with a mas­sive 15% surge. Con­se­quent­ly, SHIB has increased to $0.000012.

The over­all cryp­to mar­ket cap has risen to just over $950 billion.

Crypto/Industry News

Cardano’s Charles Hoskin­son tes­ti­fied in front of Con­gress on reg­u­la­tions regard­ing the cryp­tocur­ren­cy industry.

Three months after the dev­as­tat­ing hack, Axie’s Ronin Net­work announced when it will restart.

Two hip-hop giants – Eminem and Snoop Dogg – released a new music video that includ­ed their per­son­al Bored Apes.

Coin­base announced plans to launch its first cryp­to deriv­a­tives prod­ucts start­ing on Monday.

Bitcoin Calm at $21K

The pri­ma­ry cryp­tocur­ren­cy also plum­met­ed hard last week, dump­ing to an 18-month low of $17,500 on Sun­day. As a result, it had lost almost 50% of its val­ue in about a week.

How­ev­er, the bulls inter­cept­ed these adverse moves and start­ed push­ing the asset north. Dur­ing the week, BTC peaked at $21,500 but failed there and retraced fol­low­ing the Fed Chair’s lat­est announce­ment about rais­ing the inter­est rates.

Nev­er­the­less, bit­coin resumed its offen­sive tra­jec­to­ry and reclaimed $21,000 yes­ter­day. As of now, it has added a few hun­dred dol­lars more and stands close to $21,500 once again. As such, its mar­ket cap is above $400 bil­lion, but the dom­i­nance over the alts is down to 42.5%.