Toncoin Soars Above $2 Following 10% Daily Surge, Bitcoin Fails at $27K (Market Watch)

Bitcoin tried its hand at taking down the $27,000 line but failed before actually having the chance to challenge it directly and now sits about $500 away from it.

Most altcoins are calmer on a daily scale, but not TON. The asset has soared by another 10% and sits well above $2.

BTC Fails Ahead of $27K

The primary cryptocurrency dumped hard on Monday by a grand and charted a two-month low at just below $25,000. However, the landscape quickly changed following the latest spot Bitcoin ETF application from a financial giant, and BTC recovered all losses almost immediately.

Moreover, the asset kept climbing in the following days, which culminated yesterday evening. Just a few hours ago, the cryptocurrency soared to $26,900, which became its highest price level in more than two weeks.

However, it failed to continue upward and couldn’t actually challenge the $27,000 level. It was rejected at that point and has lost some ground. As such, BTC currently trades at $26,500.

Its market capitalization is essentially at the same spot as yesterday, just shy of $520 billion. The same goes for its dominance over the alts, which is slightly above 49%.

BTCUSD. Source: TradingView## TON Steals the Show Again

Toncoin has been among the top performers in the past week, following positive engagement by the messaging giant Telegram. The past 24 hours alone brought a 10% surge for the asset, which pushed it to a new local peak of well beyond $2. TON’s gains on a weekly scale are at 20%.

Polkadot, Litecoin, VET, and MKR are the other notable gainers from the larger-cap alts. VET has risen the most out of that group by just over 5%.

On the other hand, ETH, BNB, XRP, DOGE, MATIC, and SHIB sit with minor gains, while ADA, SOL, and TRX are slightly in the red.

The crypto market cap has added another few billion and now stands at over $1.060 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto