Altcoins
These Altcoins Are Tearing As Crypto Market Cap Hits All-Time High in 2023
The total crypto market cap rose 4% in the past 24 hours to reach a 2023 high of $1.79 trillion on CoinGecko during Thursday morning Asian trading.
This big move pushed markets to their highest levels since early May 2022, almost 20 months ago.
However, unlike recent weeks, it is not Bitcoin that is driving the momentum but altcoins, many of which made double-digit gains today.
Altcoins on fire
Resistance remains stubborn for Bitcoin, which reached an intraday high of $43,750 before retreating slightly on Thursday morning.
However, following months of lethargyEthereum has finally take a big stepjumping 7% on the day to challenge $2,400 for the first time since May 2022. ETH peaked at $2,442 before a slight pullback to $2,380 at the time of writing.
ETH prices are now only down 51% from their all-time high of $4,880 in November 2021.
Analyst “Rekt Capital” targeted $2,791, stating: “ETH will likely rise another +22% if it can reclaim $2,274 as support. »
Ethereum isn’t the only altcoin on fire right now. Binance Coin (BNB) has fully recovered from its regulation-induced crash, surpassing $300 for the first time since the exchange was sued by the SEC in June.
BNB rose 10% on the day, trading at $325 at the time of writing, consolidating its position in fourth place as Solana corrects its massive rally.
Cardano (ADA) was another big mover, rising 8.4% to $0.674 in Thursday’s Asian trading. However, ADA remains down 80% from its all-time high of $3.09 in September 2021.
Chainlink (LINK) surged 17% in the past 24 hours to an intraday high of $17.50. This is the highest level the Oracle provider token has reached since April 2022.
Double-digit movers
Other double-digit players today include Bitcoin Cash (BCH), Internet Computer (ICP), Optimism (OP), Lido DAO (LDO), Arbitrum (ARB), and Aave (AAVE).
However, the biggest mover in the top 100 cryptocurrencies is the long-considered dead Bitcoin fork BSV, which surged 63% to $87.
Solana (SOL), Avalanche (AVAX) and Polygon (MATIC)although these have all recovered in recent weeks.