Bitcoin
$ 53,162
Ethereum
$ 3,984.1
XRP
$ 1.320

Ethereum reaches a new record high and Bitcoin’s market dominance wanes

Source:

With the listing of CoinBase’s shares on the Nasdaq Stock Exchange, the crypto market reacted positively, as many digital currencies reached new peaks, including the largest of them in terms of total market value, such as Bitcoin and Ethereum.

The price of Bitcoin BTC reached a new record high of $ 64,863, according to “coinmarketcap”.

Then the largest cryptocurrency fell to the level of 62800-63200 dollars.

Bitcoin’s movement and volatility was not limited to its price, but the volatility movement extended to the dominance and acquisition of Bitcoin on the market.

As Bitcoin’s dominance in the crypto market has decreased to less than 53%, the ratio at the time of writing this article is estimated at 52.8%.

The decline in the Bitcoin acquisition contributed and helped Ethereum reach a new record high near $ 2,500 (exactly $ 2,489).

Bitcoin and Ethereum hit new highs:

We also discussed earlier in the Arab Bitcoin about the market movement and Bitcoin’s recording to a new record high, surpassing the $ 60,000 level, which suffered a little before it was breached.

As soon as Bitcoin penetrated the level of $ 60,000, it did not last long to reach a new peak, breaking that previous figure of $ 61,800, after which Bitcoin continued to reach $ 64,000 and failed to reach the $ 65,000 level, which is a psychological level.

Bitcoin’s usual fluctuation did not allow the currency to remain at its highest levels for long, as it retreated at the time of writing this article to $ 62,755.

Despite the bullish week, Bitcoin’s dominance in the market continues to decline.

The acquisition ratio comparing BTC’s market value to all other cryptocurrencies has fallen below 53% for the first time in more than two years.

For comparison, Bitcoin’s dominance was much higher, with the ratio estimated at 72% in early January 2021.

Ethereum with a target of $ 2,500:

Most altcoins followed their leader and rallied higher.

BNB, ADA, Dogecoin and Ethereum all set records.

Ethereum rose to above $ 2,480.

But it failed to break and breach the $ 2,500 level so far and rebounded a little to around $ 2,440.

The rise of Bitcoin, Ethereum, and many alternative digital currencies has brought the market value of the crypto market as a whole to a new record above $ 2.22 trillion.

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