THORChain’s RUNE explodes 20% in one day, Bitcoin (BTC) stagnates at $29,000 (weekend watch)

Bitcoin continues to trade sideways and in the last 24 hours there has been no departure from the tight range of $29,000 to $29,500.

Most altcoins are also quiet on Sunday, similar to Saturday, with the exception of RUNE and TON.

BTC is boring at $29,000

The past few weeks have been rather uneventful for the typically more volatile crypto asset. There was some movement last Monday as BTC fell below $29,000 to mark a weekly low. However, it went on the offensive almost immediately and had climbed above $30,000 by Wednesday.

More volatility was expected on Thursday when US CPI numbers were due to be released. However, this was not the case and BTC remained just below $30,000 where it had declined hours earlier.

The following days were again quite stagnant. Bitcoin remained in the same tight range between $29,000 and $29,500. In view of the typically lower trading volumes, the weekend brought nothing else, as expected.

Thus, BTC’s market cap is still around $570 billion, and its dominance over the altcoins is just under 49% versus CMC.

BTCUSD. Source: TradingView

RUNE steals the show

Most altcoins have also not seen any significant movements in the last 24 hours. ETH, BNB, XRP, DOGE, ADA, TRX, MATIC and LTC are all slightly in the red.

Shiba Inu, which was among the top performers on a weekly basis, has finally pulled back and is down 4% overnight. Solana and Polkadot, on the other hand, are showing slight increases.

TONCOIN has risen the most of the larger altcoins. TON is up 8% and is trading at $1.4.

However, THORChain’s native token – RUNE – stole the show today with a massive 20% surge. As a result, the asset has surged above $1.3.

However, the total capitalization of the crypto market remains around $1.170 trillion.

Overview of the cryptocurrency market. Source: Quantify Crypto
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