Uniswap (UNI) Skyrockets 32% Weekly, Bitcoin (BTC) Calms at $78K: Market Watch
ARB and CRV are back in the top 100 alts after massive daily gains of 24% and 15%, respectively.
After dipping below $77,000 on Monday morning following the new strikes in the Middle East, BTC jumped by two grand, but it was stopped again and now sits in the middle of this range.
Most larger-cap alts have failed to recover the recent losses, with ETH still struggling at $2,450, XRP well below $1.40, and BNB beneath $690.
BTC Settles at $78K
After its best week of the year marked in the middle of August, bitcoin tried to take full advantage of this resurgence at the end of the month, surging past $81,000 on a couple of occasions. However, the bears stepped up and didn’t allow another leg up.
Just the opposite; BTC started to lose value rapidly on Friday after the hawkish speech by new Fed Chair Kevin Warsh at Jackson Hole, and dipped below $77,000. It managed to quickly erase some of the losses and spent Saturday trading above that level.
The bulls returned on Sunday with a minor increase to $79,000. However, the resumed strikes between the US and Iran resulted in another nosedive. Bitcoin slipped to $77,000 once again on Monday before it rebounded to $79,000 and now sits between the two boundaries.
Its market capitalization remains stagnant at $1.560 trillion on CG, while its dominance over the alts is at just under 58%.
UNI Keeps Pumping
Uniswap’s native token is the top performer today once again, surging by another 10% daily (over 32% weekly) to a multi-month peak of almost $6.00 earlier today before it retraced to the current $5.65. RAIN and NEAR have posted gains of around 4%, while HYPE is up by over 2%.
In contrast, TRX is down by nearly 2% to $0.33, SOL has slipped toward $100 after another 1% dip, and ETH remains below $2,450. BNB can’t get past $690, while XRP struggles below $1.40. Even more painful declines come from MNT and SKY.
On the other hand, CRV and ARB have returned to the top 100 alts by market cap. The former has rocketed by 15%, while the latter is up by 24% daily.
The total crypto market cap remains just over $2.7 trillion on CG.
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