The crypto market has opened the week on a bullish note with most top-tier cryptocurrencies charting positive price movements after the recent correction phase. The overall market capitalization reflects this uptrend, having increased by nearly 3% to $2.68 trillion within the past day. Leading the pack, Bitcoin (BTC) has breached the $70,000 mark, while Ethereum (ETH) edges close to $3,500, and Binance Coin (BNB) touched the $590 level, amidst a general upward trend among other prominent altcoins like XRP and Solana (SOL).
Cryptocurrencies price heatmap: Coin360
Specifically, Bitcoin shows a 3.65% increase, with its current trading price at $71,836.45
and a notable rise in trading volume by 18.58%, reaching $23.6 billion. The market cap of Bitcoin now stands at $1.4 trillion, marking a 3% growth since yesterday. Ethereum follows suit with a 5.23% increase, trading at $3,566. Its trading volume has experienced a 24% surge, now at 11.4 billion, with the market cap resting at $428.2 billion.
BNB has also recorded a substantial 1.46% growth within the last 24 hours, currently trading at $592. The trading volume for BNB has risen by 12% to $1.4 billion, and the market cap now stands at $88.4 billion. Other major altcoins, like XRP, have risen by 0.64%, now trading above $0.6, with Solana marking a 2.09% increase to $181, thereby increasing its market cap to $81 billion. The trading volume for Solana has also increased by 3% to $2.1 billion.
Altcoins and Memecoins Show Positive Trends
Ethereum has mirrored the overall positive momentum seen in the crypto market, with its price showing a significant upward movement. As per the latest data, Ethereum is trading around $3,611.72, marking a gentle rise of 0.47% from the previous day. The daily chart indicates that Ethereum is consistently maintaining its ground above the psychological support level of $3,000, with recent price action forming a promising ascending pattern. The Relative Strength Index (RSI) sits at a healthy 55.58, suggesting that while there’s buying interest, the market is not in an overbought condition. This level of the RSI indicates there’s room for potential growth without immediate risk of a significant downturn due to overbuying.
ETH/USD 1-day price chart: TradingView
Other major altcoins, like XRP, have risen by 0.64%, now trading above $0.6, with Solana marking a 2.09% increase to $181, thereby increasing its market cap to $81 billion. The trading volume for Solana has also increased by 3% to $2.1 billion.
Dogecoin and Shiba Inu, representing the memecoin category, echo this sentiment with Dogecoin trading at $0.206 and Shiba Inu at $0.00002881, increasing by 0.6% and 1.05% respectively.
In the wider altcoin realm, significant growth is observed with tokens like Dogwifsaudihat (WIFSA) recording a 14% surge and trading at $0.004749, while Degen (DEGEN) adds 13% to its value.
The spotlight also shines on emerging tokens like Pepe Coin, which have demonstrated strength in the volatile market. Pepe Coin’s value has increased by 9%, now trading at $0.000007566. Additionally, Nervos Network (CKB) has marked an over 6% surge, highlighting the enthusiasm around newer blockchain projects.
The crypto market’s overall cap has benefited from these individual gains, pushing the global value to $2.72 trillion. With such a vibrant start to the week and the Bitcoin halving event on the horizon, the market gears up for potentially more significant shifts in value distribution.The altcoin sector, led by Ethereum, is poised for further rallies, as indicated by Bitcoin’s dominance and the market’s general sentiment.
