Bitcoin and ether took a back seat in the crypto markets on Wednesday as altcoins rose.
The two largest cryptocurrencies were firmly in the spotlight at the beginning of the week. While BTC basked in the glow of a ringing confirmation from Tesla, ETH managed to hit record highs for three days in a row when the CME Group first launched futures.
But on February 10, when Bitcoin posted a 5.4% loss and struggled to stay above $ 45,000 and go down a little at $ 1,715, real gains were seen in altcoins with a smaller market cap.
Altcoins ruled the day under Cardano’s leadership (Photo: CoinMarketCap)
Cardano is now testing $ 1. Unbelievable!!
– Mati Greenspan (Tweets ≠ Financial Advice) (@MatiGreenspan) February 10, 2021
Mati Greenspan, founder of Quantum Economics, takes over Cardanos Lauf
It was another impressive day for Cardano – up 32% to $ 0.92. This helped ADA firmly establish itself at number 4 with a market cap of $ 26 billion … $ 3.5 billion ahead of XRP, which spent most of Wednesday establishing support at $ 0.50. Still, XRP ended the day up more than 7.5% and a profit of more than 28%.
Perhaps the most impressive performance came from the Binance coin, which rose 20% to $ 148 before falling below $ 130 – still 15% on the day. The value of the BNB has more than tripled since the beginning of the year – and that increase is undoubtedly linked to an increase in trading volume on the crypto exchange.
Changpeng Zhao, CEO of Binance, tweeted early on Wednesday that volume had reached an all-time high on the platform. The number of new user registrations also broke records. A few hours later, he tweeted:
#BNB crashed … until … above this morning’s opening price.
– CZ 🔶 Binance (@cz_binance), February 10, 2021
The luster began to slowly shed Dogecoin earlier in the day, and the joke coin was starved from the publicity brought by a tweet from Elon Musk, a huge supporter. All of that changed when the Tesla CEO announced that he had bought DOGE for his young son so he could be a “toddler hodler”.