Bitcoin clasping to remain above $30k as Solana leads altcoins in recovery

Bitcoin clasping to remain above $30k as Solana leads altcoins in recovery

By Sam Grant - min read
  • Bitcoin has mounted a slight recovery following last week’s crash to a multi-month low of $26,350 
  • Many altcoins have charted green candles today, with Solana leading the way among the top ten coins by market cap

Leading a recovery upwards of $30k this week, Bitcoin lost ground after briefly hovering above $31k yesterday. The leading digital asset had built momentum from $28,700 last Saturday, climbing as high as $31,305 early Monday before retracing as far as $29,260, CoinMarketCap data shows.

The pioneer crypto has since recorded a series of minor gains and is now pushing towards $31,000 again. However, the ascent above $30,000 has not been without opposition from bears. At the time of writing, Bitcoin is exchanging hands at $30,215 – having gained approximately 1.77% in the last 24 hours. 

Solana, ADA and BNB are the best performing top altcoins

Ethereum’s native token, Ether, has also been recovering at a similar sluggish pace. Earlier today, Ether revisited $2,100 but gave up the gains shortly after. 

It has since retreated to the $2,000 – $2,100 range, where it has spent considerable time over the past few days. In fact, since last Friday, ETH/USD has primarily dwelled in this range, only slightly ever falling below and rising above it. Notably, the pair shot to $2,145 yesterday but was met with strong bear action as the price pulled back to $2,000 in less than eight hours. Ether was last seen trading at $2,057.

Of the other remaining popular altcoin assets, Solana stands out as one of the biggest gainers, having added almost 6% in the last 24 hours to reach the current token price of $56.65. The market cap of this SPL-powered blockchain has also gained and reached $19.1 billion.  

In the same period, Binance Coin (BNB) and Cardano (ADA) have gained 4.52% and 3.99%, respectively. The former is currently trading at $307.39, while the latter has recovered but only as high as $0.58.