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An overview of the cryptocurrency market today Saturday , February 20

An overview of the cryptocurrency market today Saturday , February 20

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While the price of Bitcoin (BTC) rose above $ 55,300 in the morning trading session, for the first time the market value of this currency exceeded $ 1 trillion. The breakdown continued throughout the day, with BTC hitting an all-time high of $ 56,368 in the past hour.

Now that Bitcoin has established itself as a trillion-dollar asset among financial giants such as Amazon, Apple and Google, older banks have become more interested in providing cryptocurrency retention services to their customers.

At the time of writing, Bitcoin is trading at $ 55,847.
Several top altcoins on the market have joined the BTC move. One of them is ETH, which set a new record in its history by entering the $ 2,000 channel. The REN token continued its impressive performance, rising 60 percent to $ 1.80. Baines Coin (BNB) has reached its highest price at $ 348.72 with the growing influence of Bainance Smart Chain (BSC).

This parabolic rally made BNB the third largest currency in terms of market value.

Other DeFi-related projects such as PancakeSwap (CAKE) and Venus (VXS) are among BSC's top attractions, trading at $ 20.62 and $ 101.50, respectively, which are new records.

There is currently no sign of a momentary decline in the uptrend that has pushed up the price of Bitcoin and other altcoins. Recent data show that in 2021, bitcoin price increases will begin more on weekends, and many analysts believe that this digital asset could reach $ 60,000 by the end of the week.

While the price of ether (ETH) has remained stable at around $ 2,000, there are rumors that the currency will rise further as corporate investors show great interest in returns through deposits in Eth2 as well as participation in Defy's growing segment. Both of these factors are the driving force behind the growing demand for ether and the consequent increase in its price.

20 February 21 ، 14:17 agreeین ۰ disagreeین ۰
rahathagh/راحت حق

Bitcoin dominance reached its lowest level in three months!

Bitcoin dominance reached its lowest level in three months!

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Bitcoin dominance, or the ratio of bitcoin market volume to other digital currencies, is approaching the psychological support floor recorded in mid-October 2020. Bitcoin dominance fell 11 percent in January. Here are some possible reasons for this decline.

Bitcoin dominance targets 60%!

Bitcoin bitcoin reached 60% yesterday. Bitcoin dominance registered on February 7 (February 19), the lowest bitcoin dominance since October 20, 2020 (October 29). Since then, the price of bitcoin has tripled.

At the time of writing, the bitcoin dominance is around 60%. According to TradingView, it is currently in the 61.95% range. But that's about 60.1 percent on Coingecko and about 61.93 percent on Binance's CoinMarketCap.

Thus, Bitcoin Dominance has lost all its gains since the December rally. On January 3, Bitcoin Dominance hit a 15-month high of 73%. Also, this increase in dominance could be related to the Ripple price drop, in which the share of this cryptocurrency in the digital currency market was greatly reduced.

Just one week after the US Securities and Exchange Commission complained about Ripple, Bitcoin's dominance grew by 7%. Some analysts at the time predicted that money would flow from the Ripple market to Bitcoin.

Binance Quinn, Cardano and Atrium, the three flagships of the Alt Quinn season!

On the other hand, the decline in bitcoin dominance led to the Altcoin season. This price rally can be seen in two parts: the top 10 altcoins on the market and DeFi tokens.

For example, the market's second-largest cryptocurrency, Atrium, has grown 116 percent since December, and two days ago, set a new historical price cap of $ 1,750 at most reputable exchanges.

Bainance Coin (BNB), which is the exclusive token of Bainance Exchange, was able to set new price records. In just seven days, the price of this cryptocurrency grew by 58%. At the time of writing, the price of this currency code is above $ 70.

Cardano (ADA), also known as a competitor to Atrium, has also managed to record a tremendous price rally, growing by 25% in the last 24 hours alone.

07 February 21 ، 21:40 agreeین ۰ disagreeین ۰
rahathagh/راحت حق