Apex Crypto Hits All-Time High at $51,335.23, Altcoins Hold Flat
Earlier on Wednesday, Bitcoin (BTC)’s rally was regaining momentum. According to data from Messari, the cryptocurrency has reached an all-time high of $51,335.23.
What happened: The cryptocurrency crossed the $50,000 mark on Monday night before plummeting to $47,787.09.
In the past 24 hours, Bitcoin transaction volume has increased by more than 11% to $78.9 billion.
Altcoins stay the same while Bitcoin rises. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, fell 0.57% to $1,798.95. Polkadot (DOT) fell 1.2% to $30.47. Cardano (ADA) was down around 4% at $0.861.
Graph (GRT) has rallied sharply over the past week, down 5% to $2.06 at press time. Dogecoin (DOGE) fell 9% to $0.0533.
Why it matters: Bitcoin’s dominance of the cryptocurrency market is as high as 62.14% at press time, and has gradually declined to around 59.6% over the weekend from over 70% this year.
The announcement of the $1.5 billion investment earlier this month gave the cryptocurrency market a huge boost. MicroStrategy MSRT
It announced plans on Tuesday to raise $600 million through a bond issue to fund the purchase of more bitcoin.
Jack Dorsey, CEO of Twitter Inc.
and Square Inc.
, said he would donate 500 BTC to rap star Jay-Z to help Bitcoin become an “internet currency.”
Shares of several crypto-focused companies, including Sos Ltd
and Canaan Company.
, making gains while Bitcoin rose on Tuesday.