Why Is the Cryptocurrency Market Rising: Which Ones Are Gaining the Most?

Bitcoin continues to dominate the market by increasing its price from $92,000 to $98,000. In addition, this jump is supported by MicroStrategy's capital increase announcement for new #Bitcoin purchases. Thus, while investor confidence increased, there was a significant inflow of $655 million in $BTC ETFs. Fidelity led these purchases with $356 million.

Ethereum also gained 4% along with Bitcoin's rise and reached $3,596. There was also an inflow of $24.9 million in Ethereum ETFs. In addition, $XRP and #Solana contributed to the positive atmosphere of the market by increasing by 2% and 5%, respectively. While airdrop rumors in the Solana ecosystem created excitement in the community, SOL increased in price to $217.

Today, the meme coin market stood out with the remarkable rises of projects such as Dogecoin and Shiba Inu. Dogecoin rose 14% to $0.39. Bonk (BONK) caught the attention of investors with a 15% increase. However, some meme coins such as Pudgy Penguins (PENGU) performed differently than the market average, remaining in the red zone.

FTX Token (FTT) was the worst performing cryptocurrency of the day, down 9%. The company has begun the process of distributing funds to creditors as part of its restructuring plan. Virtual Protocols (VIRTUAL) drew attention with a 6% decrease. However, it seems to be resisting the general market trend.