Today, SOL stands out as a big winner, and there are others like AVAX, RUNE, LINK, DOT, and more making notable gains.
Even though the prices of bitcoin and some other well-known cryptocurrencies haven’t seen much movement over the weekend, SOL, AVAX, and DOT are still going strong. Avalanche (AVAX) is especially impressive, with its price shooting up by a remarkable 30% overnight.
Bitcoin Halts at $37K
The cryptocurrency market has witnessed significant changes this week. Initially, the leading digital asset faced a setback, dropping to $34,500 on Tuesday after struggling to surpass the $35,000 mark despite several attempts.
However, bullish momentum took over, propelling BTC sharply upwards. Within two days, the asset surged to $38,000, marking its highest point in a year and a half. Yet, it faced a swift rejection and experienced a drop of over two thousand dollars within hours.
Despite this, BTC rebounded, reaching $37,500 yesterday. While it has been unable to sustain its upward momentum since then, it continues to trade above $37,000 as of now.
This implies that its market capitalization remains above $725 billion, but its dominance over alternative cryptocurrencies has slightly decreased, standing at 51% on CMC.
BTCUSD. Source: TradingView
SOL and AVAX on a Winning Streak
Solana’s native cryptocurrency has been standing out as one of the top performers lately. Over the past 24 hours, this trend has only strengthened, with the asset surging by an additional 10%. Looking at the week as a whole, SOL has seen a remarkable increase of over 40% and is currently trading close to its multi-month peak at $60.
AVAX, on the other hand, is in a league of its own when it comes to daily price performance. Avalanche has experienced a significant surge of 30%, currently trading above $18.
Other notable cryptocurrencies like Chainlink, Polkadot, Aptos, Near, and RUNE have also recorded impressive gains. RUNE, for instance, has seen a daily surge of 25%.
The overall cryptocurrency market capitalization has witnessed a daily increase of approximately $20 billion, reaching well above $1.4 trillion on CMC.
Cryptocurrency Market Overview. Source: Quantify Crypto
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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