The altcoins are also flat during the weekend as the trading volume has reduced
Bitcoin did not move considerably in either direction during the closing days of April, staying above $29k.
The altcoins are also flat during the weekend as the trading volume has reduced. On a weekly basis, however, the dominance of bitcoin has increased by more than a percentage.
This weekend is like the preceding one in terms of the absence of volatility, apart from bitcoin’s highest price point. The preceding Monday started with bitcoin climbing to $28k, but that was brief, and the crypto came back to $27k.
It was not until late Tuesday, when bitcoin started its upward movement that led it to $30k in a few hours. Despite this, the rejection at that point, although led by fake news, steered it down sharply by $3k, and bitcoin turned back to its preceding price position.
The US banking issues, however, pushed it back up, and the crypto was near $30,000’s but to no avail once again. Since then, bitcoin has continued to be comparatively steady at more than $29k, and the last two days were no different.
As such, bitcoin’s market cap has reached $570bln, while its dominance over the altcoins has retrieved more than 1 per cent since past week and is above 47 per cent now.
The trading volumes have not been high during the weekend, just like the last few ones. As such, majority of the altcoins have failed to generate any noteworthy price movements in either direction.
Ether continues to be at $1,900 after going above $2k and below $1,800 earlier during the week. Binance Coin, Ripple, Cardano, Polygon, Shiba Inu, and Avalanche are marginally in the red.
On the contrary, Dogecoin, Solana, Polkadot, Litecoin, and Tron have all marked trivial daily gains.
Hedera is the only significant gainer from the top 50 alt coins, with a 4.5 per cent daily rise.
On the whole, however, even the lower cap alt coins are quiet today, resulting in no price movements for the total market cap. The metric is just above $1.2trln.
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