Finst

Bitcoin chases all-time high, Ripple disappoints.

Bitcoin once again moves close to its all-time high.

By Mike Hesp
• 2 min read
Bitcoin chases all-time high, Ripple disappoints.

Bitcoin is once again close to its all-time high. In the past 24 hours, the crypto asset rose 3% to a current price of $106,500. That puts its market capitalization at $2.11 trillion and puts it sixth on the list of the most valuable assets, just behind Amazon, but ahead of Alphabet (Google).

To the all-time high of $109,000, only about 2.5% remains. Ethereum is following Bitcoin's lead, but with even bigger gains. The number-two by market cap is up almost 8% on the day and is currently trading at $2,580. Yet the gap to the 2021 high remains wide: ETH is still about 48% below that level.

Most altcoins are also in the green. BNB is up 2%, Solana has gained almost 4%, and ADA and TRX are up 3%. XRP, on the other hand, lags again. With only 1.9% price gain, it’s the weakest performer among the top 10 cryptos. On a weekly basis, XRP also loses ground against its altcoin peers.

The broad recovery among altcoins, according to CoinMarketCap data, points to an approaching altcoin season. In the past 90 days, around 26 alternative cryptocurrencies outperformed Bitcoin.

Bitcoin's waning dominance underscores this trend. The dominance — BTC's share of the total crypto market — has slipped in recent days but remains a sturdy 62.8%. Ethereum has expanded its share to 9.2%.

Also for Pyth Network (PYTH), something big is happening: today a token unlock takes place. According to Messari, the circulating supply will grow by 58%, a rise of 2.13 billion tokens. Earlier unlocks caused modest price bumps.

Finally, investors in traditional financial markets are also watching with approval. Both the Nasdaq 100 and the S&P 500 are posting solid gains. Gold, meanwhile, is losing value again.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.