Key Takeaways;
- Bitcin price continues to dump to $42,000 despite attempting surge above $44,000.
- LTC, ADA, are highest performer over the weekend spiking 8% on Saturday and Sunday respectively.
LAGOS (CoinChapter.com) – Bitcoin opened the weekend, retesting $43,000 level before plunging to $42,000, the level it currently sits at the weekend winds down.
The most significant price gains over the weekend came from Litecoin (LTC) and Cardano (ADA), as both spiked 8% on Saturday and Sunday, respectively.
Bitcoin’s foiled attempt to tank $44,000
Days back, the number one cryptocurrency tapped a weekly high at $44,500 following an offensive from the bulls trying to recover most losses from the previous week.
However, the bears had the better of the market, denying BTC any price increase above $44,000. They made the price dump $2,500 in hours as Bitcoin bottomed back below $42,000 for the third time in less than seven days.
Bitcoin reacted to the price dump and jumped by over $1,000 to reclaim $43,000 on Saturday. Between Saturday and Sunday, it initiated another leg up which resulted in near $44,000, but to no avail.
At the time of filing this report, Bitcoin sits at $43,000, with its market capitalization slightly above $800 billion.
Litecoin, Cardano surge 8% over the weekend
Most of the larger-cap altcoins have remained relatively calm on a daily scale. Ethereum maintains $3,300 after a minor 24-hour increase. Binance Coin touched $500 yesterday but now stands just under that line.
Solana, Polkadot, Avalanche, and Terra have tapped more impressive gains. SOL is up by 3%, DOT by 4%, LUNA by 5%, and AVAX by 4%.
On Saturday, Litecoin was the highest gainer in the market with an 8% spike at the time of writing, it is only up by less than 1%. For Sunday’s top performer, Cardano fills the spot spiking 8% since yesterday to trade above $1.35.
In contrast, the two largest memecoins have lost the most value. Dogecoin is down by another 5% after the hype from Friday when Tesla enabled DOGE payments for its products. Shiba Inu has declined by just over 1% in a day.
More increases come from Fantom (12%), Secret (10%), Spell Token (8%), Osmosis (6.5%), Economi (6%), and others. Ultimately, the crypto market cap has surged by 0.3% and is now valued at $2.2 trillion.
