Bitcoin Loses Grip in Climb Up as Ethereum Surges

Bitcoin slipped a bit on Sunday, stalling around $56,780 as it continued to try to climb back up, after falling hard in late April. Ethereum, another cryptocurrency, meanwhile surged higher, getting closer to reaching $3,000.

By Sunday evening, Bitcoin was still a ways off from the cryptocurrency’s April high when it punched past $64,000. But it was around 13% higher than where the coin sat at the same time a week ago, when it tumbled below $48,000 for a time. Bitcoin was down more than 1% on the day Sunday.

Ethereum, however, shot up more than 34% in the past seven days, hitting $2,974.53 on Sunday evening, according to CoinGecko. That’s a huge gain over one year ago, when it was $214.25 to the dollar.

Other cryptos gained, as well. Binance Coin reached $623, up around 25% in a week, while Dogecoin — of Elon Musk tweet fame — has rose to nearly 39 cents, up nearly 44%.

The volatility is expected in cryptos — including bitcoin, the most highly valued one by far. But bitcoin’s ride up over the past year or so has been dramatic.



This news is republished from another source. You can check the original article
here

Be the first to comment

Leave a Reply

Your email address will not be published.


*