| The past seven days saw the total cryptocurrency market add a considerable $40 billion to its total capitalization as the majority of it is painted green. Bitcoin's dominance is a commonly-used metric that gauges its share relative to that of the entire market. Over the past seven days, it declined slightly, which means that the primary cryptocurrency didn't fare as well as altcoins. As a matter of fact, BTC is up 4.5% on the week, whereas ETH, for example, is up 10.4%. Speaking of BTC, it managed to reclaim the important $24K level and is currently trading slightly above it. The cryptocurrency declined halfway through the week, dipping below $21,000 on Tuesday, but the bulls regrouped and staged a recovery, pushing the price towards its current levels. The altcoin market has clearly been doing better. Ethereum is charting gains upwards of 10%, pushing its entire ecosystem forward. One of the most vivid examples of this is its layer two scaling solution – Optimism. Its native coin (OP) skyrocketed by almost 100% before retracing to where it's currently trading. ETH conquered the $1.7K level, and now all eyes are on the important $1,800. |
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