Saturday, August 13

Bitcoin Struggles Below $57K: CryptoCom (CRO) Soars 25% to ATH (Market Watch)

Bitcoin’s volatility continued in the past 24 hours, but the asset has calmed below $57,000. Most alts are slightly in the green, while CryptoCom’s token has marked yet another all-time high after a double-digit price surge.

CRO and Gaming Tokens on the Rise

It’s safe to say that CryptoCom’s native cryptocurrency has been among the best performers in the industry lately. Propelled by massive partnerships and strategic developments, CRO has skyrocketed from $0.2 to a new all-time high of $0.94 in less than a month.

In the past 24 hours alone, CRO is up by 25%. It’s currently the 12th-largest digital asset with a market cap of nearly $24 billion.

Some gaming tokens have also been on the run lately, and The Sandbox proves this narrative now. On a daily scale, SAND has skyrocketed by 32% to a record of its own at above $7.

More double-digit agins come from Zcash (26%), BORA (22%), Enjin Coin (20%), Audius (19%), XDC Network (19%), Polygon (14%), Immutable X (13%), and Harmony (11%).

The larger-cap alts have painted more modest increases. Ethereum is 5% up on the day and sits above $4,300. Binance Coin has neared $600 after a 4.5% jump. Solana, Ripple, Polkadot, Dogecoin, and Terra see gains of around 2-3%.

In contrast, Cardano (-4%), Avalanche (-6%), and Shiba Inu (-7%) have lost the most in a day.

The cryptocurrency market cap is up by around $50 billion in a day and stands above $2.7 trillion on CoinGecko.

Cryptocurrency Market Overview. Source:
Cryptocurrency Market Overview. Source:

Bitcoin Calms Below $57K

The primary cryptocurrency’s price has been on a volatile roller-coaster in the past several days. After a $7,000 drop last week, BTC had dumped to a monthly low beneath $56,000 before it went on the offensive and touched $60,000 during the weekend.

As Monday came, though, the bears returned and pushed bitcoin south again – this time to around $57,000. The bulls intercepted the move and drove the asset north to over $59,000, but this spike was short-lived.

Bitcoin plummeted in the following hours and lost over $3,000 to a daily low of $55,750. More recovery attempts followed, but they saw little-to-no success. As of now, BTC has stalled below $57,000, and its market cap is well beneath $1.1 trillion.

The dominance over the altcoins also suffered severely as its down by 3% in two weeks.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to $1750.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.