By Hidayat Sultanli
On Feb 20, 2021
Following the bullish move of Bitcoin, altcoins displayed some exceptional performance. Ethereum, Polkadot, and Cardano are some of them.
Recently cryptocurrencies experience significant activity. As in many other cases, Bitcoin was the precursor for these activities. The impressive rally of Bitcoin revived altcoins. BTC recorded an all-time high price of $ 56,568, according to the CryptoRank. Also, the price increase helped BTC to become the first cryptocurrency to record $ 1 trillion in market capitalization. The bull run has not finished yet. Many records can be reached with that bullish sentiment.
Steady price increase continues in Ethereum. Another day another record price from ETH. On 18th February, ETH broke the $ 1,900 price level, and two days later, it surpassed $ 2,000, which was a long waited for price mark for Ethereum. Finally, ether overcame the resistance level of around $ 1,970. This event opened its way to $ 2k. Since the beginning of the year, Ethereum increase by 172%. Price increase led to a rise in the market cap. Market cap increased up to $ 242 billion, according to Tradingview.
One of the promising altcoins, Polkadot, increased significantly. After a long time lagging around $ 30, DOT surged to $ 39,43. The competitive platform to Ethereum, Polkadot, recorded a new ATH price with that spike in price. On the way, DOT overcame the $ 34 resistance level. At the time of writing, DOT was traded around $ 38.
In recent days, cryptocurrencies flip one another frequently. Binance Coin became 3rd largest cryptocurrency surpassing Tether USDT. Similarly, the price increase in DOT led to a boost in market capitalization. 20% price increase in 24 hours made DOT the 4th largest cryptocurrency surpassing Tether USDT. The market capitalization reached $ 34.7 billion. Tether USDT slipped to 5th position.
Cardano won the fight with the one-dollar bill. After a long time, ADA is worth more than $ 1. The last time when Cardano rose over $1 was in January 2018. Although ADA is over one dollar, it did not break ATH. The ATH price was $ 1,4 and was recorded on 4th January 2018. At the time of writing, ADA was $ 1,04. If the bullish sentiment lasts, then the new ATH is not far away.
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Disclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.
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