Cardano Jumped 6%, and the Consolidation of Bitcoin Under $30000 Continued

Cardano and Solana drew the most impressive revenue map of larger market value tokens, while bitcoin failed to break through $30000.

Bitcoin jumped above $31000, but was quickly stopped and is now back below the $30000 line. Most altcoins are also relatively calm on the daily line, with Cardano becoming a few exceptions after an increase of nearly 6%.

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Bitcoin Failed at $31000

Last week became the most violent major cryptocurrency in recent history, as it fell to an 18 month low of $25300. Despite the recovery of thousands of dollars, it still closed in red this week, making it fall seven times in a row.

Even when the price rose to and exceeded $30000 yesterday. In fact, the asset jumped to a multi day high of more than $31000, stayed there for some time, but failed in the end. The subsequent refusal sent it down more than $2000 South. In just a few hours, BTC fell to about $29500. So far, it has sat up a few hundred dollars, close to the $30000 mark.

The market value of bitcoin has fallen by more than $100 billion in a week or so, and now stands at $565 billion. In recent amendments, its dominance of alternative currencies has increased by more than 44%.

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Altcoins Stagnate and ADA Takes the Lead

Since the beginning of this month, the replacement currency has experienced a similar or even worse correction than the bitcoin. Ethereum fell from more than $3000 to a multi month low of $1700 in a few days. It rebounded in the next few days and recaptured $2000 and is still there.

Binance coin is close to $300 after a small daily rise. Ripo coins, Polkadot, dogecoin, avalanche and Shiba Inu are now also slightly green. Solana and Cardano jumped the most in 24 hours. Sol rose 4.5%, while ADA rose 5.5%, to $54 and $0.56, respectively. The market value of cryptocurrencies continues to struggle below $1.3 trillion. Since the adjustment began in early May, the index has lost more than $500 billion.