In the past 24 hours, a significant recovery has been witnessed in the crypto market and precisely, Ethereum and Binance Coin has surged over 10%. The overall market cap of the two mentioned cryptocurrencies gained approximately $200 billion in a single day. Binance Coin and Ethereum Gained 10% in Past 24 Hours After this, the crypto market made a strong comeback after shedding approximately $250 billion last week. In accordance with the recent data published by the leading market analysts, Binance Coin touched a mark of $550 on Monday after making a rise of nearly 10% in the past 24 hours. At present, Binance Coin has a market cap of over $82 billion. The second most valuable cryptocurrency in the world, Ethereum, has remained the best-performing digital asset among the top five assets. In addition to this, the price of ETH gained more than 12% within a day and recorded an ATH of $2,630 on April 22. At present, the second-largest cryptocurrency is trading near the mark of $2400 with a market capitalization of almost $280 billion. The largest spike in the prices of Binance Coin and Ethereum is causing a fall in the overall market capitalization of Bitcoin. Moreover, the total market leader of the oldest cryptocurrency in the world dropped below 50% over the weekend. The Market Dominance in the Crypto Market In contrast to Bitcoin, the overall crypto market dominance of Binance Coin and Ethereum has risen notably during the past few months. Ethereum, being the second-largest cryptocurrency in the world, accounts for nearly 15% of the total crypto market capitalization. The rise in the DeFi market has led to an increase in attention on Ethereum. In addition to this, the third-largest cryptocurrency in the world, Binance Coin accounts for around 4% of the total market capitalization. Since the beginning of this year, the crypto market has witnessed several corrections, but the latest recovery was faster than any other in recent times.
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