Radix (XRD) Explodes 30% Daily As Bitcoin Battles For $30,000 (Market Watch)

In the last 24 hours, the total cryptocurrency market cap has held its position above $1.3 trillion. However, it’s worth noting that Bitcoin’s dominance – the metric that tracks its share relative to the entire market – has fallen over this period.

This suggests that altcoins are performing better than BTC, so let’s take a closer look at what happened.

Bitcoin Battles for $30K

As we reported yesterday, BTC’s price fell below $30K and even touched a local intraday low of around $29,300.

However, the bulls have managed to regroup and succeeded in pushing the price back towards $30K.

That said, BTC is currently fighting for the central level and it will be interesting to see if it will be able to regain it. Futures markets saw a total of $35 million liquidated BTC positions in the last 24 hours, and around half of that in ETH positions. Over 60% of this represented long orders, so it appears bears took control of the derivatives market for the time being.

Meanwhile, BTC is still down 0.6% for the day and only up around 0.2% over the past week.

Altcoins outperform, XRD rally

Altcoins have managed to outperform BTC somewhat in the last 24 hours, pushing its dominance down by about 0.2%.

This comes on the back of some coins performing much better than others. The larger projects include Litecoin (+3.2%) and Avalanche (+3.9%).

That said, the best cryptocurrency (from the top 100 by market cap) is Radix (XRD). That’s up a whopping 28%, adding to the total weekly increase of around 113%. XRD shows no signs of degradation.

At the other end of the spectrum is Bitget Token (BGB), which is down around 6.7%, and Rocket Pool (RPL) – down 5.2%.

Market sentiment remains somewhat positive, with values ​​of 58 according to the Crypto Fear and Greed Index. This is a sign of “greed”.