The ongoing Bitcoin rally is pulling the entire crypto market upwards. Meanwhile, the ether supply is drawn to the DeFi sector. The market update.
After yesterday’s dive, the Bitcoin course is doing its best again just in time for the weekend and climbs confidently above the 18,000 US dollar mark in the early hours of the morning
Not much is missing until the all-time high. In view of the rapid growth in the share price, reaching the target mark seems to be just a matter of form. On a daily basis, the Bitcoin Superstar has increased by 2.8 percent and is thus trading at 18,241 US dollars at the time of going to press.
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On the way to becoming a new top brand, Bitcoin has already set a new all-time high with a market capitalization of currently over 335 billion US dollars . In terms of market dominance, the largest crypto currency is flexing its muscles again compared to the altcoins. At just under 67 percent, the BTC dominance is not far below the previous year’s high of 69 percent in May.
If the rally continues, this level should also fall soon
The rekindled Bitcoin hype is reflected in high on-chain trading activity. According to Coinmetrics, the number of active addresses on November 18 was over 1.19 million addresses – the highest recorded value since January 2018.
But not only Bitcoin is in high spirits. Almost the entire crypto market is currently benefiting from the BTC surge. With the exception of Bitcoin Cash (BCH), all top coins turn positive on a weekly basis.
In the Bitcoin slipstream, Ether (ETH) in particular is growing rapidly. On Wednesday, the second largest cryptocurrency set a new annual high of $ 492 and, with a 24-hour plus of 3.2 percent, indicates the next attack on the brand. At the time of going to press, the price of Ether was trading at $ 485, up 5.6 percent over the week.