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

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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
BTCUSD. Source: TradingView

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

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