Bitcoin Tapped 20-Day High, Toncoin Soars 30% Weekly (Market Watch)

2023-09-20 09:02:11

Bitcoin’s price performance has been slightly more positive lately, and the asset spiked to $27,500 yesterday for the first time in 20 days.

While most altcoins are calmer on a daily scale, Toncoin keeps charting new local peaks. At the same time, XRP has managed to reclaim $0.5.

BTC Aims for New Weekly Highs

Bitcoin went through a dump and pump rollercoaster last week, which pushed it south to a two-month low, but the asset managed to recover all losses almost immediately following the most recent filing for a spot BTC ETF in the States.

The following several days were less volatile, but the cryptocurrency was slowly and surely adding some value. This resulted in a price spike to well above $27,000, which marked a two-week peak at the time.

BTC failed to maintain that level during the weekend and slipped back down below $27,000. However, the start of the business week has been more promising, and the asset pumped to $27,500 yesterday evening for the first time since August 31.

As of now, it has lost some ground but still stands above $27,000. Its market capitalization has neared $530 billion, while its dominance over the alts stands strong at 49.2% on CMC.

BTCUSD. Source: TradingView## TON in a League of its Own

While most alternative coins have been rather stagnant lately, Toncoin has taken the main stage. The asset has frequently posted double-digit price surges, including now on a weekly scale. TON is up by 5% daily and 32% weekly. As such, it’s no wonder that it has found a place within the top 10 largest digital assets by market cap.

Ripple is the other notable gainer from this pack, having spiked by 2%. As a result, XRP now trades inches above $0.5.

Cardano, Dogecoin, Solana, Tron, Polkadot, Polygon, and Shiba Inu are also slightly in the green, while ETH and BNB are with insignificant losses.

The total crypto market cap has remained relatively still in the past 24 hours, at just over $1.070 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto