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Bitcoin maintains $38K, Polkadot pushed Dogecoin out of top 10 cryptocurrencies

After yesterday’s heightened volatility, where bitcoin hit a 10-day high above $39,000, the asset has calmed down just below that level. Most alternative coins are unusually stable on a daily scale, with ETH trading below $2,800 and Polkadot recovering $20. Bitcoin Remains Above $38K The past few days have been quite volatile for the leading digital asset, starting with a drop of nearly $2,000 on Jan. 31 that propelled it from above $38,000 to a multi-day low at just over $36,500. After being on that line for a while, bitcoin went on the offensive over the weekend. As reported on Sunday, the asset has recovered $37,000 and even tried its hand at $38,000. It was initially rejected, but the bulls kept up the pressure and pushed BTC further north. This time, BTC even challenged $39,000. It briefly crossed that level yesterday, which became its highest price tag in ten days. Bitcoin failed to sustain that level, however, and has bounced back to around $38,500 at the time of writing these lines. As such, BTC’s market cap has remained well above $700 billion. BTCUSD. Source: TradingView Polkadot Outperforms Dogecoin Alternative currencies made significant gains yesterday, with Ethereum leading the pack after a double-digit price increase. As of now, the second-largest digital asset has calmed down and is sitting just below $2,800. Binance Coin, Ripple and Dogecoin are in a similar position, with small daily declines. By contrast, Solana, Cardano and Avalanche have seen insignificant gains since yesterday. SOL is at $110, ADA is above $1.05 and AVAX is north of $70. Polkadot’s 3% gain in one day means DOT is trading above $20. In addition, according to CoinMarketCap, DOT has become the 10th largest cryptocurrency by market capitalization, replacing Dogecoin. The cumulative market cap of all crypto assets has fallen slightly since yesterday, but is still above $1.6 trillion. Cryptocurrency market overview. Source: Quantify Crypto SPECIAL OFFER (Sponsored) Binance Free $100 (exclusive): Use this link to register and get $100 free and 10% off Binance Futures first month fees (conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% discount on trading fees. Disclaimer: Information on CryptoPotato is that of quoted writers. It does not represent CryptoPotato’s views on buying, selling or holding any investments. You are advised to do your own research before making any investment decisions. Use information provided at your own risk. See Disclaimer for more information. Cryptocurrency Charts by TradingView.
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