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Binance Coin and Ethereum Lead $200 Billion Crypto Market Recovery.
The crypto market posted a strong recovery in the last 24 hours.
Binance Coin (BNB) and Ethereum (ETH) leapt by more than 10% in the last 24 hours as the overall market cap of cryptocurrencies got approximately $200 billion within a single day. The crypto market came back strongly after losing nearly $250 billion recently.
According to the most recent information published by Coinmarketcap, Binance Coin touched $550 on Monday after a dive of roughly 10% in the last 24 hours. Currently, BNB has a market cap of more than $82 billion.
Ethereum, the world’s second-most valuable cryptocurrency, remained the best-performing digital property among the leading 5. Furthermore, ETH rose by more than 12% within a single day and registered an all-time high of $2,630 on 22 April. Currently, ETH is trading near $2,450 with a market cap of nearly $280 billion.
The current surge in Binance Coin and Ethereum is causing a plunge in Bitcoin’s overall market cap. The total market dominance of the world’s most important digital currency dropped below 50% over the weekend for the very first time in almost 3 years.
Ethereum currently accounts for around 15% of the overall crypto market cap. The world’s 3rd most valuable digital currency Binance Coin accounts for almost 4% of the total crypto market cap.
The crypto market has actually seen several corrections given that the start of this year, but the current recovery was quicker than any other in the past few months. The current $200 billion crypto market cap recovery set off huge liquidations of short positions.
According to the latest information released by crypto analytics company, Bybt.com, nearly $70 million worth of brief crypto positions got liquidated throughout the last 4 hours. Additionally, an overall of 182,000 traders were liquidated in the past 24 hours.
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