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Bitcoin has remained stagnant over the weekend due to lower trading volumes, yet it continues to hold above $27,000.
The altcoins have also shown minimal activity on a daily basis, although several – including LDO, INJ, and QNT – have achieved significant weekly gains.
BTC Steady at $27K
Just under a week ago, on Monday, the leading cryptocurrency experienced a substantial increase that led it to reach a three-week peak of $28,500. This surge followed an initial agreement made by the US government concerning the country’s debt ceiling.
Nevertheless, the asset was unable to maintain its upward trajectory and fell back to $28,000 by Tuesday. A notable $1,000 decline occurred on Wednesday, which was mirrored by a similar drop the following day. Ultimately, BTC hit a weekly low on Friday morning, dropping below $26,600.
The bulls intervened and assisted bitcoin in recovering some of its losses by the weekend. The last two days have been relatively uneventful, as the cryptocurrency remains just above $27,000 amid the typically low trading volumes of the weekend.
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As a result, BTC’s total market capitalization remains at $525 billion, with its dominance over altcoins unchanged from yesterday at 45.9%.
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BTCUSD. Source: TradingView
LDO, INJ, QNT Achieve Weekly Gains
The larger-cap altcoins have mirrored BTC’s behavior over the weekend, showing little to no volatility. Despite a slight daily decline, ETH remains at exactly $1,900 after fluctuating around that level throughout the week.
Binance Coin, Ripple, Dogecoin, Polygon, Litecoin, Shiba Inu, and Avalanche have all increased by less than 1% in the past 24 hours. ADA, SOL, and DOT have risen by approximately 1-2%.
Yesterday’s leading performer – TRON – has seen a significant drop today of nearly 5%. However, examining the charts on a weekly basis reveals a different scenario for several altcoins. Lido DAO, Injective, and Quant have all surged by over 15% in the last seven days.
Overall, the cryptocurrency market capitalization has remained relatively stagnant over the past two days, currently hovering around $1.150 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
