Bitcoin Consolidation Continued, With Solana Soaring 10% to a Two-Month High

04/01/2022By: C, Fiona

Bitcoin remained trading at around $47000, while Solana soared by a double-digit percentage to its highest price tag since late January.

Bitcoin has continued to maintain a fairly calm performance over the past few days, standing above $47000. While most altcoins are also stagnant, other altcoins, such as Solana and avalanche, mark a sharp rise in daily scale.

Bitcoin Stagnated at $47000

The main cryptocurrency experienced its biggest price surge in the past few months on Monday, when it soared from $45000 to more than $48000 in a few hours. This happened after several weeks of failure to break through $45000.

Briefly exceeding $48000 means the highest price level since January 2 this year. Since then, however, the asset has fallen by several hundred dollars and has been unable to stay above $48000.On the contrary, it has even fallen below $47000 twice in the past two days. So far, the transaction price of BTC is higher than this level, but its market value has fallen to slightly less than $900 billion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

SOL and AVAX Lead Alternative Trading Methods

Ethereum is one of the quiet alternative currencies, rising slightly every day, helping the second-largest cryptocurrency regain $3400. It is worth noting that ETH struggled under $3000 more than a week ago, but it has not looked back since it jumped above this level.

Binance coin is also slightly green now at $445. Ripple, Cardano, Polkadot, Dogecoin, Shiba Inu, and CRO all experienced slight price appreciation. Although Terra also rose less than 2% on the daily line, the asset actually hit a new record high – just below $110. Avalanche and Solana are the most prominent among large cap assets. AVAX rose 8% to $100, while SOL soared 10% to trade north of $120.

More revenue comes from low and medium market value allies, including IOST (42%), Zilliqa (25%), Theta Fuel (16%), IoTeX (13%), TRON (11%), and Enjin Coin (11%). Since yesterday, the market value of cryptocurrency has increased by about $30 billion to $2.150 trillion.