The price of Ethereum against Bitcoin reaches its highest level in 3 months
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Answer The price of Ethereum against Bitcoin reaches its highest level in 3 months
Bitcoin is still partially flat, as the price of the coin has settled above the $23,000 level.
However, volatility is present in the arena of alternative digital currencies.
jump Ethereum price reached a weekly high as the coin recovered the $1,700 level, while ETC, AVAX and Polkadot rose almost 5% in one day.
The price of Ethereum against Bitcoin reaches its highest level in 3 months:
Some altcoins suffered several drops in the middle of the week but reversed course in the next few days.
Ethereum saw the decline to the level of $1600 previously, but it jumped to $1650 yesterday, and then continued to rise above $1700.
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This is the highest price level for Ethereum that has been recorded in just over a week.
In addition, Ethereum rose against Bitcoin as well, as this trading pair reached its highest level in 3 months.
Of the altcoins with a large market capitalization, Polkadot, Avalanche and Ethereum Classic gained the most, up around 5-6% daily.
The move of Ethereum and many other altcoins to higher levels made the total market capitalization of the market rise above $1.09 trillion.
Bitcoin stops at $23,000:
With altcoins fluctuating in the past few days, bitcoin has remained relatively flat.
Bitcoin had previously risen above $24,600 (the highest level in several weeks) at the end of July but failed to make further gains.
The next few days saw Bitcoin drop below $23,000.
But the price of Bitcoin eventually settled around that level and stayed above it.
As most altcoins continue to outperform bitcoin, bitcoin’s dominance has taken a hit.
The dominance scale is currently below 41% and is close to falling under 40%.
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At the same time, the market value of Bitcoin remained just under $450 billion.
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