The trading volumes remained low during the weekend once again, but bitcoin jumped by more than $1,000 in a day to a high of around $34,700. The alternative coins have also bounced off and reclaimed some ground, with BNB exceeding $330 and XRP spiking by 5%.
Bitcoin Tops $34K Despite Minimal Volume
Somewhat expectedly, this meant that the primary cryptocurrency failed to produce any massive price movements in either direction. The asset had recovered from its dump to $32,100 and traded around $33,000 at the start of the weekend.
It initiated a leg up on Saturday, resulting in a jump above $34,000, which was short-lived, though, as another drop to $33,000 followed.
However, the bulls stepped up once more and pushed it north to approximately $34,700 – reached earlier today. This became BTC’s highest price since July 7th.
Despite retracing by a few hundred dollars since then, bitcoin still trades above $34,000. This comes amid reports that miners have started to accumulate coins again after the recent sell-off.
BNB, XRP, UNI See 5% Pumps
After being untypically calm yesterday, most altcoins have actually marked more impressive gains today. Ethereum had dipped below $2,100, but a 2.5% increase has driven the second-largest crypto well above that particular level.
Binance Coin is among the best performers from the top 10, with a 5.5% surge. Consequently, BNB currently stands over $330, despite the ongoing regulatory concerns breached by numerous watchdogs.
Ripple and Uniswap have seen similar increases. As a result, XRP sits above $0.65, while UNI is at $21.
Cardano (2%), Dogecoin (3%), Polkadot (1.5%), Bitcoin Cash (2.5%), Litecoin (3.5%), Solana (2%), and Chainlink (2.5%) are also in the green from the larger-cap altcoins.
As expected, more fluctuations come from lower- and mid-cap altcoins. Telcoin leads the way with a 22% surge. Synthetix is close with a 21% pump.
OKB (13%), EOS (12%), UMA (12%), Aave (11%), Huobi Token (11%), Nano (10%), and THORChain (10%) follow.
Ultimately, the cumulative market capitalization of all crypto assets has gained about $50 billion since yesterday’s low and has reclaimed $1.4 trillion.