After the recent regional peaks and increased volatility, bitcoin has stabilized and is currently trading at over $24,000.
Today’s altcoin market is also very static, with a few notable exceptions, including Dogecoin. DOGE has so continued the current surge of memecoins with a canine motif.
The most popular cryptocurrency has some rather erratic recent days. Even the weekend, which usually has a calming effect on the stock, experienced many price changes.
BTC surged to $25,000 on the first trade for the first time in more than two months. It first failed to breach it, but the bulls quickly returned and pushed it once again north over the course of the next few hours.
Bitcoin Still Maintains $24K Price Level
As a result, the price of bitcoin increased to $25,200, reaching its highest level since mid-June. It struggled to continue climbing, though, and hard backtracking was begun. BTC dropped below $24,000 and lost almost $1,000 in value in a couple of minutes.
Since then, the asset has mostly fluctuated near that price. Its market cap has held steady at $450 billion, and slightly over 40% of the alternative coins are dominated by it.
Ethereum Leads The Day For Altcoins
The alternative coins had comparable price swings over the weekend and on Monday, but they are presently calm.
Perhaps encouraged by the excitement surrounding the forthcoming Merge, Ethereum soared to a 74-day high of its own above $2,050. The second-largest cryptocurrency, however, has dropped about $200 since then and now trades below $1,900.
BNB, Ripple, Cardano, Polkadot, Avalanche, and Shiba Inu have all experienced negligible daily gains.
However, Dogecoin is up 8% in a single day. The first memecoin has increased above $0.08 as a result.
After the recent hard fork, Monero has benefited the most from the lower- and mid-cap alts. XMR is now trading just above $170 after gaining 5% in value.