New Ether ATH, Cardano And Litecoin Climb, Dogecoin Sees Correction

0

Last Updated on 10 May 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 / [email protected]
View all posts

Ether broke through $4k and is currently trading above $4,100 while Bitcoin continues to battle with the $60k level. Over in the altcoins the climb of Cardano is quite remarkable while Doge sees an announced correction after Elon Musk hosts SNL and introduces the world to crypto.

Litecoin is also seeing a 16% jump in price today.

Bitcoin is barely moving and has seen almost no difference in price over a week. As Changpeng Zhao, CEO of Binance, correctly noted last week during an interview on Bloomberg, the most famous crypto now sees less volatility than stocks like Apple and Facebook. The piling in of Wall Street institutional money also comes with reduced volatility apparently.

Meanwhile, several coins like Shiba Inu, Telcoin, Bitcoin Diamond and Ethereum Classic are seeing more than 100% growth in their prices in a week. A dangerous sign or a normality in this altseason. It will be interesting to see which of these coins doesn’t see a selloff soon.

Ethereum Classic for example went up 180% in a week, but already saw a 50% selloff at the top. Can investors ride the ups and downs that come with these smaller cryptos?

Advertentie.

Cardano

Although the biggest story is certainly Ether breaking through the $4k level today to set a new all time high, we have to also mention Cardano, which saw a new all-time high of $1,83 on most exchanges. In doing so, it battled Tether for fifth place on the CoinMarketCap list.

Dogecoin correction

The hype surrounding Dogecoin reached a bullish hyperbola on Saturday when the coin shot up to a new all-time high of 74 cents, up more than 15,000% year to date. A few hours before Elon Musk was due to host SNL (with many people betting on whether or not he would mention Dogecoin, which he did multiple times), the memecoin saw a sharp selloff which heightened yesterday when the altcoin corrected a good 35%.

Today, Dogecoin is up 2% and trading around $0,54.

As always, the internet and social media were flooded with memes going from first time? for those having never experienced a DOGE selloff before, to groups urging followers to HODL at all cost.

Time will prove who will prevail.