Stellar (XLM) Shoots Up by 33% Daily, Bitcoin (BTC) Maintains $90K (Market Watch)

Bitcoin’s price dropped below $90,000 during the night but managed to bounce off and reclaim that coveted level.

Several larger-cap altcoins have charted impressive gains over the past day, such as SOL and XRP, while DOGE and SHIB are in the greed.

BTC Reclaims $90K

The business week started on a very positive note for the primary cryptocurrency as it jumped from $80,000 to $85,000 on Monday and up to $88,000 on Tuesday. After a brief correction, the asset went on the offensive once again on Wednesday and skyrocketed to a peak of almost $94,000.

This meant that bitcoin had added over $25,000 in value since the US elections. At this time, though, reports started to emerge that it had reached its local peak. In the next few days, BTC indeed began to retrace and slipped to under $87,000 on Friday morning.

Nevertheless, the cryptocurrency stopped the price drops and started to regain traction in the following days. As such, it jumped to over $91,000 on Saturday but was stopped at $91,500. It slipped below $90,000 during the night but has recovered some of the losses and now sits above that line.

This means that its market cap has dropped to under $1.8 trillion, and its dominance over the alts has taken a hit and is down to 56.2% on CG.

XLM Explodes

Many altcoins have outperformed BTC over the past day, which is seen by the declining bitcoin dominance. Ripple is the most notable example from the top 10 alts, having surged by 11% on a daily scale and rising above $1. SOL, TON, and AVAX are the other impressive gainers from the bunch.

In contrast, Dogecoin and Shiba Inu have retraced by 5% and 4%, respectively. The biggest gains from the top 100 alts come from Mantra (42%), Stellar (33%), Quant (29%), BONK (25%), ETC (15%), ATOM (15%), and others.

The total crypto market cap has remained at essentially the same spot as yesterday at just under $3.2 trillion on CG.