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Seeking Alpha 2021-11-23 16:08:36

Ethereum, Binance Coin, some altcoins continue outpacing Bitcoin

It appears the second largest digital token by market cap, Ethereum (ETH-USD), confirms its $4K support level as the coin rises 1.4% to $4.3K, the same level of resistance that has been tested twice in the past five sessions. Ether (ETH-USD) and the third largest crypto, Binance Coin (BNB-USD), continue outpacing Bitcoin (BTC-USD) on all time frames going back to 3 years, with BNB as the biggest percentage gainer by a wide margin, as seen in the chart below. In the past five sessions, Bitcoin (BTC-USD) trades in net negative territory, while ETH and BNB enjoy positive returns as high as 6.2%, according to the chart below. El Salvador's recent move to build "Bitcoin City," which starts in 2022, will be funded initially by $1B worth of sovereign bonds backed by the token. But BTC's price doesn't appear impacted by the news as it still trades below $58K per coin on Tuesday.

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