Ethereum (ETH) is markedly volatile over 24 hours while the joke cryptocurrency Dogecoin (DOGE) has found stability around the 30 cent level on Thursday.
What Happened: ETH touched an intraday low of $2,672.11 in the 24-hour period leading up to press time and a high of $2,797.97 — the latter is also its all-time high.
At press time, the second-largest cryptocurrency by market cap was trading 1.49% higher at $2,749.84.
DOGE hit an intraday low of $0.30 and a high of $0.32 in the 24-hours leading up to press time, when it traded 2.59% lower at $0.31.
The cryptocurrency shot beyond the 30 cent mark on Wednesday after Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk and “Dogefather” hinted on it making an appearance in his SNL episode and has found stability above the mark.
Meanwhile, the apex cryptocurrency Bitcoin (BTC) traded 1.9% lower over 24 hours at $53,522.12.
Why It Matters: Decentralized Finance (DeFi) associated cryptocurrencies in competition or complementary to Ethereum have been soaring lately.
See Also: Mark Cuban Says He’s Been Holding Crypto For Years Without Selling Anything
On Thursday, some such cryptocurrencies like Venus (XVS), Polygon (MATIC), and PancakeSwap (CAKE) hit new all-time highs.
XVS touched an all-time high of $123.63 and traded 48.56% higher at $110.34. The cryptocurrency was the top gainer on a 24-hour basis in the list arranged by CoinMarketCap.
Venus Protocol announced Thursday in a tweet that Binance and holders of Binance debit cards carrying Visa Inc’s (NYSE:V) brand can now spend XVS and Vai (VAI) stablecoin by transferring them from their cryptocurrency spot wallets to their card wallet.
MATIC traded 16.89% higher at $0.91 at press time and hit an all-time high of $0.94 on Thursday night. The cryptocurrency has gained 177.49% on a seven-day trailing basis.
CAKE traded 7.56% higher at $42.03. On Wednesday, it reached an all-time high of $44.02.
DeFi coins are buoyant as Ethereum’s blockchain suffers from congestion resulting in higher transaction costs — known as “Gas.”
Read Next: Ethereum Killers Are Advancing At Record Pace This Year: What You Need To Know
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