No longer content trailing , is now leading market rallies and setting records. In the wee hours of the morning, the coin set an all-time high of $2,197.
The price of Ethereum has hardly retreated since then; Ethereum currently trades for a price of $2,171. And its market cap, the second largest in all of crypto after Bitcoin, is around $250 billion, meaning that Ethereum makes up an eighth of the total market cap of the global crypto market—now $2.07 trillion.
Playing second fiddle: Bitcoin!
Bitcoin crossed $60k for the seventh time this year today. Valued at $60,853 a coin, Bitcoin's edging towards its former all-time high of $61,683, set on March 13 this year.
Bitcoin’s recent performance indicates that the playing fields of crypto are levelling. Last weekend its market dominance was 58.47%, down from 72% back at the end of 2020. Today its market dominance has sunk further, to 55.16%.
Still, there were a few bullish signals for Bitcoin this week. Chinese tech giant Meitu joined the ranks of Tesla and MicroStrategy on Thursday when it announced it had bought a further $10 million of the currency, taking its total crypto holdings to $100 million. (However, over half of Meitu's holdings are in ETH).
Last, but certainly not least…
The other biggest movers in crypto this Saturday are Binance and .
, or BNB, surged 12.45% in the last 24 hours to hit an all-time high of $487, though it’s down three dollars from that at the time of writing. BNB's recent rally added 41.62% to its price since this time last weekend.
XRP has been rallying for a time, too. Last weekend the price of the coin climbed above 70 cents for the first time since May 2018. Today it trades at $1.16, which is 14% higher than it was yesterday.
It’s an about-turn for XRP, whose progenitors were whacked with a $1.3 billion lawsuit by the US Securities and Exchange Commission this past December for allegedly selling XRP as an unregistered security. This week, XRP surged after Ripple won a discovery motion to reveal documents related to the SEC’s legal approach towards Bitcoin and Ethereum.
Courtroom dramas, rallies, reclaimed territories… This epic was brought to you by crypto.
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