BTC Flatlines Above $26K, MKR Explodes 9% Weekly (Market Watch)

Bitcoin’s underwhelming price performance continues as the asset has failed to move decisively within the past 24 hours.

Most altcoins are also untypically stable on a daily scale. SOL, TON, and MATIC have lost the most value.

BTC Boring at $26K

The primary cryptocurrency has produced little-to-no volatility in the past several days, ever since it dumped from over $27,000 to $26,400 after the US Federal Reserve’s last FOMC meeting last Thursday.

The following days were quite dull, especially the weekend, which saw BTC trading sideways at around $26,600. Bitcoin finally went on the offensive on Sunday evening but was quickly stopped and pushed back down to $26,000 within hours.

It dipped below that level on Monday, but the bulls intercepted the move and drove the cryptocurrency north. Nevertheless, BTC failed to exceed $26,500 and has been just inches above $26,000 ever since.

As such, its market capitalization has remained at just over $510 billion, while its dominance over the alts is shy of 49%.

BTCUSD. Source: TradingView## MKR Steals the Show

Several of the larger-cap altcoins are sitting with minor losses today. These include Ripple, Cardano, Dogecoin, and Litecoin.

More daily declines come from the likes of Toncoin, Polkadot, Polygon, Solana, Chainlink. and LEO. In some of those cases, the drops are up to 3%.

In contrast, Ethereum, Binance Coin, and Tron have charted insignificant gains.

MakerDAO’s native token is the top performer today as well. MKR is up by 6% over the past 24 hours and nearly 10% weekly. As a result, it trades well above $1,400.

The total crypto market cap has remained relatively sluggish at just over $1.050 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto