The crypto market has hit a new milestone as Bitcoin (BTC) surged to an unprecedented $106,000. Following this rally, major altcoins like Ethereum (ETH), XRP, and Solana (SOL) have also seen notable gains. Even meme coins have joined the upward momentum, recording modest increases of 2-3%. Let’s dive into the numbers and what they mean for the market’s future.
Bitcoin and Ethereum Lead the Market
Bitcoin, the leading cryptocurrency, climbed 3% in the past 24 hours, trading at $105,120. Its daily range fluctuated between $101,592 and $106,400, driving its market cap to an impressive $2.08 trillion. With a 24-hour trading volume of $60 billion, Bitcoin’s market dominance now stands at 56.10%. Recent data from SoSo Value shows that BTC Exchange-Traded Funds (ETFs) attracted $2.17 billion last week, marking the second consecutive week of strong inflows and highlighting sustained investor interest.
Ethereum has also seen gains, rising 3% to $3,984 within the same time frame. Its daily low and high ranged from $3,833 to $4,022, pushing its market cap to $481 billion. Ethereum’s 24-hour trading volume sits at $30 billion, with a market dominance of 12.93%. Notably, ETH ETFs recorded an $854 million inflow last week, the highest in recent months. This trend underscores growing institutional interest and Ethereum’s strengthened position in the market.
XRP and Solana Show Promise
XRP gained 1% in the last 24 hours, trading at $2.40. Its daily range spanned $2.37 to $2.466, resulting in a market cap of $138 billion and a trading volume of $7 billion. Excitement surged among investors as BlackRock’s CEO, Jay Jacobs, announced plans to launch an XRP ETF. If realized, this could attract more institutional investors and drive XRP’s price further.
Meanwhile, Solana rose 1% to $222, with a trading range of $216 to $227. Its market cap has reached $106 billion, supported by a 24-hour trading volume of $3.4 billion. With a market dominance of 2.88%, Solana’s robust technological foundation and increasing developer interest have solidified its position as the fifth-largest cryptocurrency.
Meme Coins Ride the Wave
Meme coins have also benefited from the market’s bullish sentiment. Dogecoin (DOGE) gained 3%, trading at $0.40, while Shiba Inu (SHIB) rose 2% to $0.00002767. Other meme coins, including PEPE, BONK, and FLOKI, saw gains between 1-2%. This movement highlights the enduring popularity of meme coins, driven by strong community support.
Biggest Gainers and Losers
Fantom (FTM) emerged as the day’s top gainer, surging 17% to $1.44. Stacks (STX) followed closely with a 15% increase, trading at $2.55. Ethereum Name Services (ENS) also posted strong performance, rising 13% to $49.45.
Conversely, Aave (AAVE) fell 3% to $366 despite a 32% gain last week. Increased demand from institutional players like Trump World Liberty Financial continues to support AAVE’s long-term prospects.
The Bit Journal emphasizes that while Bitcoin’s new highs and altcoin rallies are creating opportunities, market volatility poses both risks and rewards. Investors are encouraged to stay informed and exercise caution as the market evolves.
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