The cryptocurrency world is bustling, with Bitcoin holding strong at $98,000, drawing attention. While some tokens are soaring, others seem to be cooling down. What is driving this trend? Let’s take a closer look at what is happening in the market right now.
Bitcoin remains strong at $98,000
Bitcoin is king, and it is showing why. Bitcoin holds a dominance of 58.59%, stabilizing at $98,550. Its recent low was $97,222, nearly reaching $100,000, with a high of $99,655. The market cap is massive—$1.95 trillion—with a daily trading volume of $76 billion.
Interestingly, in just one day, 22.85 million BTC flowed out from 12 ETFs. This is significant! But the BlackRock data that many are waiting for could add more twists to the story. Currently, Bitcoin seems calm and ready to surge forward, but it is not the only currency making waves.
XRP surges, meme coins fluctuate
XRP is the star of the day. It has risen 15% in 24 hours, trading at $1.566. Over the past month, it has skyrocketed 200%! With a market cap of $89 billion and a trading volume of $20 billion, it is clear that XRP is on a winning streak. For a brief moment today, XRP even surpassed BNB, claiming the fifth position on CoinMarketCap. At that time, BNB's market cap was $90 billion; however, XRP was ahead by $1 billion before quickly dropping back to sixth place.
Meanwhile, meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are fluctuating. DOGE is up 9% to $0.42, while SHIB is trading at $0.00002698. Not bad, but not groundbreaking either. However, smaller currencies like PEPE and BONK are struggling, down by as much as 8%. This reminds us that even if large currencies seem stable, meme coins can still pose risks.
Bitcoin and Ethereum (ETH) remain stable, but XRP's momentum could drive other altcoins higher. By the way, ETH is performing well too, with a weekly increase of 7%, trading at $3,333. The market is generally bullish, but the situation could change after the release of ETF data from institutional participants like BlackRock. Currently, the market is both cautious and excited.
