Bitcoin Hovers Around $40K As Ethereum, Dogecoin Drop Lower, Small Coins Strike Big Gains

Bitcoin (BTC) traded below the psychologically important $40,000 mark on Tuesday night, while Ethereum (ETH) hovered above the $2,500 level.

What Happened: The two top cryptocurrencies by market capitalization traded in the red at press time. BTC traded 0.56% lower at $39,977.60, while ETH traded 2.5% lower at $2,522.94 over a 24-hour period.

Over a seven-day trailing basis, BTC and ETH were 20.81% and 2.37% higher, respectively.

Meme-based cryptocurrency Dogecoin (DOGE) traded 2.75% lower at $0.32. The Shiba Inu-themed coin traded 2.19% and 0.11% lower against BTC and ETH.

SHIBA INU (SHIB), a so-called Dogecoin killer, was the top gainer over 24 hours, according to CoinMarketCap data.

See Also: How To Buy Shiba Inu (SHIB)
SHIB traded 20.58% higher at $0.000008492 at press time over 24 hours. The coin jumped 21.39% and 23.97% against BTC and ETH respectively.

Other notable gainers included Amp (AMP), up 8.65% higher at $0.087, Chiliz (CHZ) which traded higher by 11% at $0.32, and Stacks (STX) higher by 7.3% at $0.96.

Why It Matters: SHIB and CHZ got a boost on Tuesday after Coinbase Global Inc COIN said it would list the coins on its Pro platform with trading scheduled to begin Thursday.

See Also: Dogecoin A 'Victim Of Pump And Dump Scheme' By Elon Musk, Says Analyst

AMP was listed last week on Coinbase Pro and has risen 80.06% on a seven-day trailing period, making it the top gainer in that time frame, as per CoinMarketCap data.

The achievement of the required threshold to implement the Taproot soft-fork, bullish on-sign signals, and adoption by El Salvador as legal tender were the factors driving Bitcoin to the $40,000 level, but the apex cryptocurrency has remained largely muted so far this week.

Read Next: Dogecoin Bear Barry Silbert Says 99% Of Cryptocurrencies Are Overpriced