Bitcoin (BTC) revisited the $50,000 level for the first time since May 15 at 2:41 a.m. UTC on the Bitstamp exchange.
The market cap of the largest cryptocurrency is now inching closer to hitting the $1 trillion level, currently sitting at $943 billion, according to CoinMarketCap data.
Bitcoin is on track to record its second consecutive month in the green after plunging to the mid-$28,000 level in June.
With that being said, the flagship coin is 22 percent away from reaching its current all-time high of $64,804, which means that the cryptocurrency remains in a technical bear market for now.
Cardano hits another all-time high
While Bitcoin’s relatively swift recovery to the $50,000 level is impressive, Cardano (ADA) is stealing the spotlight right now.
The native token of the top proof-of-stake blockchain has just hit yet another all-time high of $2.84.
As reported by U.Today, Cardano is set to launch smart contracts on Sept. 12, which is believed to be the main catalyst behind its stellar rally.