Bitcoin, the world’s largest cryptocurrency by market cap surged over five percent to cross the coveted $50,000 level Tuesday for the first time in four weeks as institutional investors take interest in the asset class again.
Other cryptocurrencies, or altcoins, as they are called were trading mixed today. Ether, the coin linked to the Ethereum blockchain, has surged 4 percent. It is also up over 21 percent in the last seven days.
Binance Coin, which is currently the third-largest coin by market cap is 3 percent up. Cardano, which slipped to the fourth position on the table a week ago was over one percent up. Dogecoin, the meme coin, has surged nearly five percent to trade at $0.25, up over 25 percent in a week.
Solana and Polkadot, on the other hand, continue to trade in the red along with stablecoins. Solana was down over two percent and Polkadot lost over one percent. However, both the coins have surged over 15 percent in the past week.
Top 10 cryptocurrencies by market cap
| Cryptocurrency | Current market price | 24-hour change |
| Bitcoin | $51,295 | 4.20% |
| Ether | $3,497 | 3.35% |
| Binance Coin | $438 | 2.91% |
| Cardano | $2.22 | 1.12% |
| Tether | $1 | 0.01% |
| XRP | $1.04 | 2.33% |
| Solana | $161 | -2.24% |
| Dogecoin | $0.25 | 4.66% |
| USD Coin | $0.01 | -0.01% |
| Polkadot | $30.94 | -0.93% |
As per data from coinmarketcap.com, the crypto market’s total market cap on Tuesday rose by nearly four percent to $2.90 trillion. Meanwhile, Bitcoin’s dominance in the market rose by 0.34 percent to 42.64 percent.
Market participants cited the increase in institutional crypto services from…
