Bitcoin (BTC) recently surged, breaking previous all-time highs, while Ethereum (ETH) demonstrated strength by surpassing significant resistance levels. Amidst this bullish sentiment, numerous altcoins within the top 40 list exhibited remarkable gains and impressive price performances.
One standout performer among these altcoins was Render (RNDR), which witnessed a notable 66% surge over the past week, reaching a peak of $12.73. Currently, RNDR is trading at $12.41, marking a 5.80% increase in price and an 8% decrease in trading volume within the last 24 hours.
NEAR Protocol (NEAR) also attracted attention with a weekly increase exceeding 55%. Presently, NEAR is trading at $7.04, reflecting a 15.81% price increase and an impressive 122.56% surge in trading volume over the last 24 hours.
Similarly, The Graph (GRT) experienced a 41% gain in the past week. At present, GRT is trading at $0.4437, with a slight 1.23% decrease in price and a 53% decrease in trading volume within the last 24 hours.
Additionally, several other altcoins demonstrated notable gains in their weekly charts. Binance Coin (BNB) reported a 25% increase, Uniswap (UNI) exhibited an 12% uptick, and Solana (SOL) displayed an 11% increase, as per data from CoinMarketCap.
Bitcoin (BTC) & Ethereum (ETH) Weekly Review
Bitcoin (BTC) has seen a remarkable surge in value, reaching new all-time highs. Presently, the price of Bitcoin stands at $72,275, with a trading volume of $71.54 billion over the past 24 hours and a market capitalization of $1.42 trillion. This represents a 3.77% increase in the last day, and a nearly 10% surge over the past week.
Comparatively, Bitcoin has outperformed traditional assets, with a 10% increase, alongside Ethereum’s 14%, while the S&P 500 has seen a mere 0.5% return during this period. Historically, cryptocurrency markets have demonstrated resilience to fluctuations in traditional markets, fostering optimism among traders for this trend to persist.
Renowned cryptocurrency analyst Michaël van de Poppe has pointed out the sustained upward trajectory of Bitcoin, surpassing the significant $72,000 mark, exceeding his previous forecasts. As anticipation builds for the release of CPI data, there is keen interest within the community to ascertain whether this rapid growth can be maintained.
Furthermore, Ethereum has also experienced a significant surge, with its current price standing at $4,050.76, accompanied by a trading volume of $29.08 billion and a market capitalization of $486.49 billion over the last 24 hours, reflecting a 2.91% increase.
Van de Poppe has provided insights into Ethereum’s price dynamics, highlighting its recent underperformance compared to other cryptocurrencies post-Merge. He emphasized the importance of Ethereum surpassing the 0.06 BTC threshold, suggesting it could signal a substantial expansion within the Ethereum ecosystem.
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