ETH saw its price surging to a 3-week high as Ethereum developers confirm the London Hard Fork date.
After the recent negative sentiments by the Chinese regulators, Bitcoin lost over $1,000. With the unpredictable moves, BTC bounced off, hovering around $35,000 once more. However, Bitcoin market dominance dropped further as various alternative coins, including LINK, UNI, DOT, BNB, and ETH, registered impressive gains.
ETH on a 3W High Ahead of London Hard Fork
Besides slight retracements yesterday, most altcoins saw promising gains, especially assets based on the DeFi protocol. Meanwhile, Ethereum had it the best in the past few days after recovering from the plunge beneath $2,000. Over the last 24 hours, the altcoin surged from its daily lows of $2,250, trading around $2,400 at the moment. Keep in mind that this is the highest price that ETH achieved since 17 June. That comes after Tim Beiko, ETH developer, confirmed that the long-awaited London Fork would happen on 4 August with the 12,965,000 block. Binance Coin is among the altcoins with impressive runs since yesterday. Similar to Ethereum, BNB traded on a 3-week high, above $335. Other coins trading in the green zone are Chainlink (5%), Solana (2.5%), Bitcoin Cash (1%), Uniswap (3%), and Polkadot (5%). On the other hand, Litecoin, Dogecoin, Ripple, and Cardano have struggled since yesterday. KuCoin Token registered another 30% upsurge. As a result, KCS value over $14 after gaining around 100% since last week. Others that follow suit are Terra (12%), Enjin Coin (13%), Kusama (14%), FTX Token (14%), Decentraland (17%), and Harmony (20%).
BTC Survives China’s Negativity
BTC saw a value drop on Monday, plunging to nearly $33,000 after the weekend positivity. However, bulls joined the market, pushing the crypto high to trade near $35,000 yesterday. However, the negativity from China’s regulators and central banks brought bearishness to the market. Within a few hours, Bitcoin saw southward movements, shading over $1,000. For now, it seems like bitcoin struggles due to the ban reminders by China as it managed to recover its losses quicker. While writing this, BTC trades around $35,000, and its market cap, hovering over $650 billion.
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