Today, major digital assets experienced a surge in value during the Asian morning hours. This upward movement propelled the overall global crypto market cap to an impressive $1.73 trillion.
The cryptocurrency market had an impressive comeback on Monday. Bitcoin, in particular, surged past $47,000, reaching a level not seen in almost two years. This uptick in Bitcoin’s value was fueled by growing anticipation about the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States.
Cryptocurrency Market Sees Strong Surge: Bitcoin and Altcoins Rally
In a remarkable turn of events, the original cryptocurrency, Bitcoin, experienced a sharp rise from $43,280 to $47,193 during the US session – marking its highest level since April 2022. Despite a slight pullback, Bitcoin’s price still saw an almost 8% increase over the last 24 hours, reaching $46,931. The market cap of Bitcoin surged to $919.5 billion, accompanied by a substantial 103% rise in trading volumes to $43.2 billion within the same timeframe.
Following suit, Ethereum, the third-largest cryptocurrency, mirrored an upward trajectory with a nearly 5.5% gain in the last 24 hours, reaching $2,311. Ether commanded a market cap of $277.9 billion, and its trading volumes saw a significant uptick of 68% over the last 24 hours, reaching $13.2 billion.
While Tether (USDT) prices remained relatively stable, BNB prices increased by 1.8%, and XRP prices rose by over 2.3% in the past 24 hours. The remaining top 10 cryptocurrencies by market cap also experienced notable surges. Solana (SOL) rallied nearly 16%, Cardano (ADA) witnessed an 11% increase, and Avalanche (AVAX) surged over 14%.
Even popular meme coins, Dogecoin and Shiba Inu, saw upward movements in their prices, rising by 5.2% and 7.5%, respectively, in the last 24 hours. The collective optimism in the global crypto market was evident as it surged over 7% to $1.72 trillion. The fear and greed index level stood at 74, signaling positive investor sentiment amid this notable cryptocurrency market rally.
Top 3 Cryptos Today: Pepe, SEI, and Lido DAO Showcase Noteworthy Gains
Pepe Coin Surges by 11%:
Pepe Price Chart; Image Credits: CoinMarketCap
Pepe Coin demonstrated a noteworthy surge, rising by 11% over the past 24 hours and reaching $0.000001184. The coin’s market cap now stands at $498.3 million, accompanied by a 1.5% increase in trading volume, totaling $86 million during the same period.
SEI Network Token Soars Over 17%:
SEI Price Chart; Image Credits: CoinMarketCap
The Sei Network’s native token experienced an impressive surge, jumping by over 17% in the last 24 hours. At the current press time, SEI’s price is $0.7224, and its market cap has reached $1.6 billion. Trading volumes in the past 24 hours saw a significant boost, rising by more than 13%, totaling $731.5 million.
Lido DAO Continues its Winning Streak with an 8% Gain:
Lido DAO (LDO) Price Chart; Image Credits: CoinMarketCap
The Lido DAO (LDO) token continued its positive momentum, recording an 8% gain in the last 24 hours and reaching a price of $3.13. The token’s market cap now stands at $2.8 billion. Although trading volumes slightly dropped by over 4% to $169.2 million in the last 24 hours, it’s noteworthy that the token has appreciated by over 26% in the past 30 days. These performances mark these cryptocurrencies as standouts in the current market landscape.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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