The so-called altcoin season seems to be underway. The total market capitalization of all cryptocurrencies continues to increase, but bitcoin (BTC) is unable to gain ground and its dominance is gradually declining slightly further.
The bitcoin price is still struggling to break through the resistance around $ 55,500, but it suddenly succeeded last night for a short while. At around 10 a.m., the price shot up briefly to $ 56,350, but then fell back just as hard. This morning, bitcoin dipped again briefly to $ 53,600.
At the moment we see the bitcoin price again mainly moving sideways around $ 54,500. Should bitcoin finally break out of this range, the rate could hit $ 60,000 again in the coming days.
Ethereum (ETH), meanwhile, is steadily climbing. Around the time that bitcoin peaked, the ether price re-established a new all-time high (ATH) of $ 2,755. This record was matched several times last night, but not surpassed.
At the time of writing, the ether price is slowly climbing back to this record and a new ATH may still be in the offing today.
Cardano (ADA) has just made quite a leap. The ADA rate suddenly shot up 6% this morning from $ 1.30 to $ 1.39. Cardano is up 10% today and 15% this week. However, there is a fair amount of resistance around this $ 1.40, but should it be broken, cardano may move towards its $ 1.55 ATH.
DeFi & NFT
Today we see decentralized finance (DeFi) tokens such as Uniswap (UNI) and SushiSwap (SUSHI) rising again, although it is less fast than in recent days. PancakeSwap (CAKE), on the other hand, is up nearly 15% today and has just hit a new ATH of $ 40!
Non-fungible tokens (NFTs) are also doing well today. Enjin (ENJ) is 11% in the plus, Chiliz (CHZ) 12% and ICON (ICZ) 12.5%. The growth of these tokens also contributes to the rise of ether.
The biggest climber today is again phantom (FTM). The FTM price has risen by no less than 42.5% today and by 85% this week. At a price of $ 0.7, Phantom is slowly returning to the ATH of $ 0.85 reached in February.