Cardano (ADA) Sets New All-Time High as Bitcoin Reclaims $49K: Weekend Watch


Following a sharp retracement below $49,000, bitcoin has rallied up and reclaimed that particular level. Most altcoins have stalled since yesterday, except for Cardano. ADA has painted another fresh all-time high above $2.6.

ADA’s Latest ATH; Alts Calm

The alternative coins were all covered in green yesterday with impressive gains across the charts. Ethereum briefly exceeded $3,300 but has retraced slightly since then and currently sits below that level.

Binance Coin, which tapped a new three-month high at over $460, is down a bit to $455. Ripple (-1%), Dogecoin (-2.5%), Polkadot (-3%), Uniswap (-2%), Bitcoin Cash (-1%), and Chainlink (-2%) have also corrected slightly in a day.

Solana has lost the most value (-5%) after it charted an ATH yesterday. Speaking about records against the dollar, ADA has done that today following a 5% surge to just over $2.6. Cardano’s native coin is 160% up since the July 20th market correction when it dipped below $1.

Cryptocurrency Market Overview. Source: Quantify Crypto

 

More impressive gains are evident from the lower- and mid-cap altcoins. NEAR Protocol (30%) leads the charge, followed by THORChain (18%), Cosmos (16%), Fantom (13%), Enjin (11%), Chiliz (10%), and Filecoin (10%).

The cumulative market capitalization of all cryptocurrency assets has remained relatively stable as well and stands above $2.1 trillion.

Bitcoin Stands Above $49K

The primary cryptocurrency has also been a notable performer in the past few days. Back on August 19th, it struggled when it dropped to $44,000.

However, the landscape changed entirely at that point, with the bulls taking charge and sending the cryptocurrency north. Bitcoin added several thousand dollars of value and stood at $47,000.

That was not all as BTC initiated another leg up, this time, it went above $49,000 as reported yesterday. The bears briefly regained control and pushed it south by $1,000. Nevertheless, bitcoin went north again and came just $200 away from touching $50,000. This became its highest price line in three months.

As of now, BTC stills stands above $49,000, and its market capitalization is at $925 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView
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Cryptocurrency charts by TradingView.

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