While Bitcoin's Price Dips in Value, Crypto Assets Like Ethereum and Bitcoin Cash Shine

Metaverse Jan 22, 2023 0 94 Add to Reading List

The price of bitcoin has dropped on Sunday losing more than 6% during the last 24 hours, but a myriad of other coins have seen significant gains in contrast. Cryptocurrencies like bitcoin cash, ethereum, and monero have all jumped in value while bitcoin has seen a decent drop.

** This post has been updated to reflect the recent bitcoin (BTC) price change at 3:33 p.m. (EST) on Sunday, January 10, 2021.

Bitcoin (BTC) dropped to a low of $37,194 on Sunday, January 10, 2021, after hitting its all time high a day and half prior. Currently, BTC is down over 6.4% and is trading for $38,239 per unit during Sunday’s afternoon trading sessions (EST).
On Saturday and Sunday, while BTC consolidated, ethereum (ETH) jumped to a 2021 price high of $1,340 per coin. ETH is still up today over 4% and is swapping for $1,285 per token on Sunday.
Another cryptocurrency that has seen significant gains this weekend is bitcoin cash (BCH) which is up 14% today. However, yesterday BCH was up over 30% and traded at a 2021 high of $625 per unit. Bitcoin cash (BCH) is currently trading for $612 per coin and has a market cap of around $11.2 billion.
Litecoin (LTC) did very well on Saturday as well, spiking to $185 per unit and today the coin is swapping for 170 per LTC. The crypto asset LTC is only down 1% during the last 24 hours and commands a market cap of around $11.3 billion on Sunday.
Another strong runner this weekend in terms of gains is monero’s (XMR) market valuation. XMR jumped to $174 per coin and the crypto asset is still up over 18% on Sunday. Data from markets.Bitcoin.com shows monero’s overall market valuation is only $3 billion today.
The top five gainers on Sunday have seen gains between 40% to 91% and include coins such as stakenet, bitcoin diamond, ethereum classic, ultrain, and horizen. The top losers on Sunday include appcoins, nexus, navcoin, everex and golem as the assets have lost between -19% to -30% in value today.
After the BTC all-time price high pushed the Bitcoin Dominance Index (BDI) to 70% recently, the recent value spikes from other coins have pushed the BDI down to 68%.
At the time of publication, the entire crypto market economy is still valued at over 1.03 trillion U.S. dollars. The overall market cap is still up over 7% despite the losses BTC has taken during the last 24 hours.
**Update: Since this post published at 2:46 p.m. (EST), the price of bitcoin (BTC) had plunged to a low of $34,322 per unit. At 3:33 p.m., the price is hovering around $36,660 per coin. The rest of the crypto economy had also seen some decent percentage losses after BTC slid below the $35k range on Sunday.