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Digital currencies continued to perform well on Thursday, with the global crypto market cap above $4.14 trillion over the past day.
Attention has shifted to large-cap altcoins as Bitcoin’s dwindling market dominance and Ethereum’s momentum suggest an imminent altcoin season.
Let’s check how BNB, ADA, and ETH are setting the market tone as bullish sentiments dominate.
Binance Coin smashes new ATHs
Binance’s native token price touched record highs today after gaining more than 10% in the past week.
BNB Chain celebrated the milestone, which cements BNB’s status as a top large-cap crypto to watch this cycle.
A new ATH for $BNB 🥳
Institutional participation has driven the alt’s surges.
Recently, BNC acquired tokens worth millions to become the largest Binance Coin holder.
Also, Nano Labs doubled down on BNB, planning to accumulate 10% of the circulating supply.
Bulls are now targeting the psychological mark at $900.
Surpassing this region could fuel upswings past the sought-after $1,000.
BNB price hovers well above the 50- and 100-EMAs on the daily timeframe, indicating buyer dominance.
The MACD supports the bullish bias with an upside crossover and green histograms.
However, the daily RSI at 70% signals impending overbought conditions.
That positions BNB for a brief correction before upside continuation.
Ethereum profitability at record highs
The second-largest cryptocurrency has been on steroids lately, even forcing Standard Chartered to adjust its 2025 price target.
Ethereum trades at $4,605 after gaining over 20% in the previous week.
The remarkable rally has propelled the altcoin’s profitability.
IntoTheBlock data shows no ETH holder is at a loss at current prices.
The Ethereum community has plenty to cheer, with 99% enjoying profits and 1% at breakeven.
Source – IntoTheBlockThat indicates that these individuals purchased ETH at prices lower than the prevailing market prices.
Such indicators suggest reduced selling pressure.
Investors in profit will likely refrain from selling, especially as they anticipate new all-time highs.
However, such profitability can trigger immense bearish momentum if holders decide to book profits.
The prevailing sentiments suggest no imminent investor exits.
Companies and large-scale investors are accumulating Ethereum at current values, demonstrating confidence in further gains.
ADA reclaims $1 on ETF optimism
Cardano saw an impressive rally within the past day to reclaim the psychological mark at $1.
The upsurge followed news that Grayscale had registered Cardano and Hedera Trust exchange-traded funds.
👀 LATEST: Grayscale just registered Cardano (ADA) and Hedera (HBAR) spot ETF trusts in Delaware – a classic prelude to formal SEC filings. This signals real momentum for altcoin ETFs as institutional demand climbs. The door to regulated ADA & HBAR exposure may be opening soon.
The development triggered speculations about bolstered institutional interest
.ETFs make it easier for large-scale investors to participate in crypto without dealing with the complexity of purchasing and holding.
Altcoins appear poised for continued uptrends.
BNB’s all-time highs, ADA’s breakout, and Ethereum’s profitability have ignited optimism in large-cap cryptocurrencies.
The market has seen increased trading volumes over the previous week as participants await rotation to smaller-cap tokens before a full-blown altseason.
However, today’s higher-than-anticipated PPI suggests bearish signals.
HOLY CRAP! This is Really bad for Inflation: The US PPI numbers are out and they’re MUCH higher than expected! Headline PPI YoY: 3.3% (exp 2.5%, prev 2.3%). Now let me explain why this is so terrible for inflation. PPI = Producer Price Index. It’s basically the wholesale
Most tokens are displaying weakness and will likely delay the anticipated rallies in the near term.
The post Large-cap alts: BNB hits fresh ATH, 99% of ETH holders in profit, ADA reclaims $1 appeared first on Invezz
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