Ethereum price managed to establish a new all-time high at $1,475 but quickly got rejected and dropped to $1,244. This was extremely helpful for the altcoin market, especially the DeFi sector with Uniswap and many others hitting new all-time highs.
Despite many altcoins thriving in the past few weeks, the total market capitalization of alts is only around $350 billion compared to an all-time high of $550 billion in January 2018. This shows that an alt season could just be on the verge of starting.
Bitcoin price on the other hand hasn’t done much and remains trading sideways as other coins take over. Its dominance continues to fall, currently at 63%. XRP price continues declining slowly and is currently trading at $0.26 at the time of writing.
Bitcoin price remains flat after consolidation
One of the main strengths of Bitcoin is that despite the recent sell-off, not many whales have sold to take profit. Additionally, the number of Bitcoin inside exchanges has continued to drop since January 3, which indicates most people are not interested in selling.
On top of that, the number of stablecoins inside exchanges has just hit a new all-time high at $4.32 billion. This could be a major indication that investors are looking to buy the dip as the overall market capitalization of the crypto industry is going up.
Ethereum price hits new all-time high and defends crucial support level
Although ETH bulls would have preferred Ethereum to just continue climbing higher after hitting a new all-time high, defending the 12-EMA level on the daily chart was also a bullish indicator.
Ethereum price is currently trading at $1,345 after a drop to $1,244. The digital asset faces almost no barriers to a new all-time high and the Ethereum locked inside Eth2 continues to increase, currently at 2.84 million.
XRP price stale but slowly dropping
Nothing major happening with XRP price which is currently around $0.267. The digital asset continues to slowly bleed down to $0.20 as its trading volume hits levels not seen since November 2020.
As we have stated several times, XRP price will most likely remain flat until a court makes a final decision over its security status.
Follow CryptoTicker on Twitter and Telegram for daily crypto news and price analysis
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: ETH outperforming BTC could signal start of alt season
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC aims for $53,000 if this level breaks
- Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC aims for $37,000 as next target
- XRP Price Breaks Out Climbing Above $0.60 Again
- Ethereum Price Hits $670 and Aims for $1,000
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC bulls buy the dip pushing it back above $32,000
- Big News: Ripple Price is about to TRIPLE? This News Confirms…
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Market briefly corrects, but bulls buy the dip
- Ethereum Price Touches $1,500 For The First Time Ever
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC Hits $40,000 Again as Bull Market Returns
- Ripple Price Prediction – How High will XRP Reach in 2025?
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto market consolidates as BTC hits $30,000
- Ethereum Price Formed A Potential Double Bottom While ETH 2.0 Gets Closer
- How High will XRP Price reach after Ripple wins the SEC Lawsuit? XRP 3$?
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC slides towards $33,000 but bulls buy the dip
- Yearn.Finance Price Prediction: YFI Turns Bearish, Targets $18,000
- Ethereum Price Prediction: ETH blows up and aims for $2,000 as Reddit partners with Ethereum
More from Bitcoin
List of Countries Banning Cryptocurrency
Cryptocurrency has been gaining popularity in recent years as a decentralized form of currency, but not all countries have …
Bitcoin FAILS to breach 30K higher…Will Bitcoin crash to 20K?
May 2023 has not been kind to Bitcoin prices. Will Bitcoin crash to 20K? Let's analyze in this Bitcoin price …
Bitcoin stabilizes around 28K, but BTC price at $50,000 soon?
What is the Bitcoin price forecast for the second quarter of 2023? Can BTC reach $50,000? Let's analyze in this …