Bitcoin Consolidation Continues, Solana Soars 10% to a 2-Month High (Market Watch)

Bitcoin continues with its rather calm performance in the past few days and stands above $47,000. While most altcoins are also stagnant, others, such as Solana and Avalanche, have marked substantial gains on a daily scale.

SOL and AVAX Lead the Alt Way

Ethereum is among the calm altcoins with a minor daily increase that has helped the second-largest cryptocurrency reclaim $3,400. It’s worth noting that ETH struggled below $3,000 just over a week ago, but ever since it jumped above that level hasn’t looked back.

Binance Coin is also slightly in the green now and sits at $445. Ripple, Cardano, Polkadot, Dogecoin, Shiba Inu, and CRO have produced minor price appreciations.

Although Terra is up by less than 2% on a daily scale as well, the asset actually charted a fresh all-time high – just under $110.

Avalanche and Solana are the most impressive performers from the larger-cap alts. AVAX is up by 8% and sits at $100, while SOL soared by 10% and trades north of $120.

More gains are evident from lower- and mid-cap alts, including IOST (42%), Zilliqa (25%), Theta Fuel (16%), IoTeX (13%), TRON (11%), and Enjin Coin (11%).

The crypto market cap is up by around $30 billion since yesterday and sits at $2.150 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto

Bitcoin Stalls at $47K

The primary cryptocurrency experienced one of its most substantial price surges in the past few months on Monday when it soared from $45,000 to over $48,000 in hours. This came after weeks of being unable to break above $45,000.

Briefly exceeding $48,000 meant charting its highest price level since January 2 this year. Since then, though, the asset fell by a few hundred dollars and has been unable to remain above $48,000.

Just the opposite, it even dipped beneath $47,000 twice in the past two days. As of now, BTC trades above that level, but its market cap has slipped to just under $900 billion.

BTCUSD. Source: TradingView