Ether Bullrun Continues, Uniswap Up 18% And DigiByte Sets All-Time High

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Last Updated on 22 April 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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With an exception around the beginning of March only, Bitcoin has been trading within a range of some $15,000 dollar ever since end of February (between $50,000 and $65,000).

Given the coin’s notorious volatility, that’s a tight channel for it in fact. Traders are still trying to figure out where is the newest support line, but most believe that whales are lying ready with buy orders around the $50k mark. Therefore, analysts agree that for the time being boring Bitcoin has returned.

Traders are looking for opportunities elsewhere. That’s what seems to be happening now. It’s not bearish but a potential sign of confidence in the space.

Admitted David Russell of brokerage firm TradeStation Group.

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Sliding dominance

In fact, Bitcoin’s dominance has been sliding for weeks now, with investors in each case diversifying their holdings into other cryptocoins as well. Two of those that are profiting from this, Ether and DigiByte, are up this morning.

Beware that any bullish move by Bitcoin at this point could come with profit taking in the altcoins, as Nick Mancini, analyst at Trade The Chain explained. He stated:

If bitcoin breaks bullish out of the current trend, we will likely see ETH and altcoins take a small hit.

Ether and Digibyte

Ether seems to be decoupling from the Bitcoin price and direction. This morning, as Bitcoin is down or unchanged, Ether keeps aiming for it’s all time high and trades above $2,400, up 7%.

Over in the broader altcoin market meanwhile we notice some profit taking (Dogecoin is down 15% over the past 24 hours, but still refuses to fully collapse) although there are also some notable winners. For example the pink unicorn noted coin Uniswap is clearly having a great day, trading upwards some 18%.

One of the biggest winners today is DigiByte, the small altcoin that has a huge social media following and is known for its meme marketing. In the past 24 hours, it has added some 18% to its value and has set a new all-time-high.