While Bitcoin price stalled, Cardano has taken advantage to surpass XRP as the seventh-largest crypto
While Bitcoin price and most larger caps have stagnated since yesterday, Cardano (ADA) took advantage to overtake XRP and Terra (LUNA) as the seventh-largest cryptocurrency.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin fluctuated at $47,000 but failed and dropped around a thousand dollars shortly after. Most altcoins are volatile, except Cardano. ADA has charted impressive daily gains and is back in the top seven most significant digital assets by market capitalization.
Bitcoin price falls to $47,000
It was precisely a week ago when bitcoin started a remarkable rally in which it skyrocketed from under $45,000 to just under $48,000. The asset even spiked on Monday and charted a three-month high price a day later.
However, it failed to continue to rise and consolidated between $47,000 and $48,000 in a few days. The situation changed late Thursday and early Friday as BTC dumped several thousand dollars to multi-day lows of $44,000.
The bulls have come to play at this point and pushed bitcoin north. After another brief retracement over the past 24 hours, BTC rallied above that particular level, but the bears blocked the move and pushed it south. The cryptocurrency has recovered most of its losses in just a few hours and is close to $47,000 again.
BTC is just over $46,000, and its market cap remains below $900 billion. Most of the altcoin space has calmed down after the recent price turmoil. Ethereum marked a three-month high a few days ago above $3,500 and has remained at that level since.
Binance Coin, Dogecoin, and Shiba Inu are slightly green against the larger caps. In contrast, Solana, Terra, Ripple, Avalanche, Polkadot, and CRO have seen a slight price drop.
Cardano is the most significant gainer from the top 10 digital assets with almost 5% daily gain. As a result, ADA is above $1.20 and has become the seventh-largest cryptocurrency by market capitalization.
On the 24-hour scale, Moonbeam gained the most (15%), followed by Oasis Network (11%), Mina (11%), and BORA (10%). The crypto market cap remains above $2,150 trillion.
Read more:
- Bitcoin Price And Other Major Cryptos Dipped Early Over The Weekend But Regained Ground And Were Up
- Bitcoin Price Is Flat, and The Market Is Gloomy