BTC is Now Consistent Over $56k as Polkadot (DOT) Aims for $40 After an 8% Increase

While BTC is struggling to take its price above the mark of $60k, other altcoins with large market caps like UNI and DOT are adding a substantial number of gains in their value and have reduced the dominance of BTC in the crypto world.

After a few days of constantly increasing volatility, the price of Bitcoin has finally become somewhat stable over the mark of $58k. Using this opportunity, other well established alternative coins have taken advantage and have collected massive gains, all while reducing the dominance of BTC in the crypto space. Some considerable alternative coin gains include the price of Polkadot (DOT) closing in on the $40 mark and the price of UNI increasing by a substantial 10%.

Bitcoin stable over $56k

Bitcoin serves as the face of the crypto market and is the primary crypto-asset up till now. It has, although, been very volatile over the past few days as it once broke above the price range of $60k and then it took a huge fall back to the mark of $53k. BTC reclaimed an amount of $7k on Thursday.

Since that time, the price of Bitcoin has stabilized a little bit, and after it dipped to $57k yesterday, it went back up to $59.4k to reach its highest price for the day and is now being traded at a price of just over $56k.

The indecisiveness of BTC and its lack of consistency in keeping its bullish trend going has cost the crypto asset a fraction of its market share. The market cap of Bitcoin compared to other alternative coins was at 62% at the start of this week, but it has since dropped down to the value of 60%

Polkadot Aims for $40 as the Altcoin Trajectory Goes Up

DOT has experienced an increase in price by about 8% and is nearing the price mark of $40. Other alternative coins have also followed this ongoing upward market trend and have gained some value. ETH’s price has increased by about 1%, making it worth over $1800. DOT has also increased its price by around 10% and is now trading at the price of $33. All this activity has Strangulated BTC’s dominance over the market.