Bitcoin Slips as Altcoins Find Favor Amid Historic $2tn Milestone By Investing.com – Investing.com

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

By Yasin Ebrahim Investing.com – Bitcoin stuttered Tuesday, as the wave of new funds coming into the market that took the overall market cap above an unprecedented $2 trillion appears to be hunting down opportunities in other cryptocurrencies showing healthy momentum. fell 1.42% to $58,259 and is down about 1% over the past seven days. BTC's dominance rate – the ratio of BTC market cap over total market cap – fell to 55%, it's lowest level since June last year, according to CoinMarketCap, as the influx of new funds found its way to red-hot cryptocurrencies like ether and Binance's BNB. rose 0.58% to $2,117.2, gaining more than 15% over the past seven days, on growing demand for ether, used to power the network, the technology behind the emerging blockchain-based technology such as decentralized finance, or DeFi, applications and non-fungible tokens, or NFTs. was up 5% to $391.8, with gains of about 31% over the past seven days, and its market cap has more than quadrupled over since hitting a trough in January. BNB, used on Binance, the largest cryptocurrency exchange by volume, has risen to the ...read more...