The bulls take over in the evening
The battle at the 10000 USD mark is going into the next round. While the Bitcoin consolidates on Saturday, the Altcoins cause a stir in the evening. BNB (Binance Coin) in particular stands out from the crowd. After the bullish reports of the previous days, the exchange coin is climbing to a new 6-month high. But also coins like Polkadot can record price increases on the weekend. We take a look at the current market situation.
Bitcoin breaks through important resistance
At the time of this article, the No.1 crypto currency is at a rate of 10440 USD, which is a daily gain of 0.95%. Accordingly, the stubborn resistance at 10400 USD mutates into a new support that protects the first mover from falling into the four-digit USD range. Since the rebound at 12000 USD, the Bitcoin has oscillated in a range between 9800 USD and 10600 USD. The trading volume of approximately 39 billion USD implies the high interest of investors. From a bullish perspective, the next barriers are now at 10500 USD and 10800 USD.
Binance Coin with strong performance
After the promising announcements from Binance, the stock market coin on Saturday is going up steeply. In an online panel, Binance CEO Changpeng Zhao announced the creation of a USD 100 million fund. CZ justifies the decision as follows: “To launch the Binance Smart Chain and invite all ecosystem stakeholders to start developing the Binance Smart Chain, we are launching a $100 million fund for the ecosystem and the Binance Smart Chain community”. NBB can announce the largest pump in the top 20 with a 13.65% increase in the share price.
Polkadot jumps to rank 6
With a price gain of a respectable 13.50%, Polkadot manages to jump to position 6 in the crypto charts. The multichain coin thus overtakes Bitcoin Cash and prepares the next attack on Chainlink. At position 4, Ripple (+ 2.73 %) can shorten the gap to Tether. Further back, the DeFi-Coins such as yearn.finance (+ 25.25 %), Aave (+ 6.01 %) and DFI.Money (+ 60.69 %) are again convincing.
Bitcoin Dominance Index falls further
Thanks to their strong performance, the alternative assets are able to regain important market shares. The BTC Dominance Index, for example, drops to a value of 55.9 % in the evening. The DeFi market is booming and many experts see parallels to the ICO hype of 2017, which led to an unprecedented Altcoin season. In a rush, many assets reached a new all-time high. Compared to today, however, a lot has changed. Various block chain projects provide applicable use cases and the decentralized finance area offers countless possibilities. It is quite possible that the Altcoins will soon take over.