Bitcoin went on a wild ride yesterday amid the vulnerability issues reported by the major wallet company Ledger, but it has calmed down now at just under $43,000.
Most altcoins are with minor losses or gains, but SOL keeps on rising, perhaps fueled by the hype around the new meme coin sensation – BONK.
BTC’s Wild Ride
Bitcoin jumped to a 19-month peak at $44.700 on Saturday but failed to keep its momentum going and retraced to $44,000 for the rest of the weekend. Monday started on a negative note with a price dump to under $41,000. The landscape worsened on Tuesday with another decline to a weekly low of $40,200.
The bulls managed to defend the $44,000 mark and initiated a leg up a few days later that resulted in bitcoin jumping above $43,000. However, yesterday was a highly volatile trading day due to the vulnerabilities with Ledger.
After the news went out, BTC dumped by over a grand and a half to $41,500. Once Ledger announced the fix, the primary digital asset recovered almost all losses and returned to over $43,000, leaving millions in liquidations.
As of now, BTC stands at around $43,000. Its market cap has risen back to $840 billion, but its dominance over the alts has taken a hit and is under 52%.
SOL, BONK on a Roll
It’s safe to say that the Solana-based meme coin – BONK – has been the top performer lately. The past 24 hours alone saw a massive 100% surge that pushed the asset to a fresh all-time high. On a weekly scale, BONK is up by four digits.
Somewhat expectedly, this has propelled a price surge for SOL as well. The token has jumped by over 8% in the past 24 hours and trades close to $80.
Avalanche is the other notable gainer from the larger-cap alts, having added 5.5% of value and trading at $40.
The rest of the top ten alts are with minor gains, such as ETH, ADA, XRP, DOGE, and TRX, or with insignificant losses, like BNB.
The total crypto market cap has remained above $1.6 trillion.
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