Chainlink, Algorand, Dogecoin rally as Bitcoin reinforces market dominance
While Bitcoin regained its dominance of 63.7% at press time, the collective cryptocurrency market cap continued to flatter to deceive. The same was recorded to be $252.2 billion after a short-lived bearish phase. That being said, many altcoins seemed to show signs of life this week.
LINK token has been one of the best performing altcoins this year. However, after the latest fall in the price of Bitcoin, the crypto sustained a minor correction. Soon, however, the statement announcing Ethereum Classic Labs’ team’s partnership with Chainlink prompted the price of the token to post gains worth 45.23%
At press time, LINK was up by 5.36% over the last 24-hours. Additionally, its market cap stood at $1.53 billion with a price of $4.46. The coin registered a 24-hour trading volume of $418.6 million.
Another altcoin that rose following the brief crypto-market correction was Algorand [ALGO]. Over the past week, the coin took a plunge of 14.62%. However, this altcoin rebounded as news of the Marshall Islands leveraging Algorand technology to roll out the world’s first national digital currency, the Marshallese sovereign [SOV], broke out.
ALGO rallied by 7.80% over the last 24-hours and was priced at $0.375, at press time. The crypto held a market cap of $238.8 million and a volume of $136.5 over the same timeframe.
No other memecoin has caught the attention of the crypto-community like Dogecoin [DOGE] has. While DOGE followed its peer altcoins by declining, 12.85% over the last week, one tweet from the Tesla overlord was enough to drive the coin into a bullish tizzy all over again.
Dogs rock pic.twitter.com/vLJGyZo5Sx
— Elon Musk (@elonmusk) March 3, 2020
After a stint near its support zone, DOGE rose by 4.73% over 24 hours and was valued at $0.0024, at press time. Further, it held a market cap of $301.9 million and a 24-hour trading volume of $173.7 million.
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