As of right now, Terra Classic is the best performing asset, having increased in value by 20%. The value of Bitcoin remained stable at around $19,000.
At its current level of roughly $19,000, Bitcoin has had a relatively quiet weekend.
In addition, most alternative cryptocurrencies experienced very modest losses. However, the price of LUNC increased by double digits once again and continues to go up.
The Boring BTC Price of $19,000
Unlike the previous week, this one was quite calm for the leading cryptocurrency. Prior to this past Tuesday, the asset had been trading at roughly $19,000 throughout the previous weekend.
Bulls then took charge, driving it northward. For this reason, Bitcoin reached a 12-day high of $20,400. Unfortunately, the uptrend didn’t last long, as bitcoin quickly plunged back down below $19,000.
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It deflected, returned to its previous level nearly instantly, and has stayed there ever since. On Friday, though, it unexpectedly skyrocketed to $20,000, only to be denied once more.
Once again, Saturday was dull, and the current landscape is the same, with BTC hovering near $19,000. Its market cap didn’t change from $370 billion, and Bitcoin’s share of the cryptocurrency market hasn’t budged from 39.5%.
BTCUSD Source: TradingView
Terra Classic Once Again Steals the Show
On a 24-hour time frame, most alternative cryptocurrencies were likewise rather stable, with small losses. Even though it has dropped by more than 1% in a day, Ethereum’s price is still well above $1,300. You may have noticed that since the Merge happened about two weeks ago, ETH has been one of the worst performing cryptocurrencies.
Aside from Binance Coin and Cardano, the prices of Solano, Dogecoin, Polkadot, Shiba Inu, and Avalanche are also hovering in or in the red. Every day, Ripple, MATIC, and TRON have all been making incremental progress.
Of the mid-cap alternatives, LUNC showed the most growth. In part due to Do Kwon’s recent assertions, Terra Classic has seen daily and weekly gains of 20% and 50%, respectively.
In spite of this, despite most other alts being somewhat quiet, the total crypto market valuation was still around $935 billion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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