Polygon’s native cryptocurrency is the best performing among large-cap altcoins today.
The price of Bitcoin has been on a roller coaster ride in the past 24 hours, rising by as much as $1,000.
Most altcoins are seeing small gains today, but BTC’s dominance continues to increase and is approaching 50%.
Bitcoin price at $28,000
The primary cryptocurrency started the trading week on a strong note, surging $1,500 in about a day and a half and hitting a six-week high of over $28,500.
However, the community’s enthusiasm did not last long, and BTC soon lost almost all of its momentum. It returned to just over $27,000 and spent the next few days there.
The stock had attempted to break through $28,000 several times over the weekend but ultimately failed. The latest attempt occurred earlier today when Bitcoin surged to $28,350. This came after the price dropped to $27,200.
However, the asset has failed once again and is currently trading around the coveted $28,000 line. Its market cap on CMC has surged to $546 billion, and its dominance relative to other alts has continued to rise to 49.8% as of now, the highest level in weeks.
MATIC up
Most altcoins have faced similar volatility over the past 24 hours but are now slightly in the green. Ethereum, Binance Coin, Ripple, Dogecoin, and Bitcoin Cash are up less than 1%.
Further gains came from the likes of Solana, Tron, Polkadot, and Litecoin — all of which were up around 1-2%.
MATIC has become the best performing product today. The asset has appreciated by 4.5% and is currently trading just below $0.6.
With most other low- and mid-cap alts trading slightly higher today, the total cryptocurrency market cap has increased by around $10 billion to nearly $1.1 trillion.
