As bitcoin’s price approached $48,000, the crypto market size surpassed $2 trillion. Since July 20th, BTC has increased in value by more than 65 percent.
Bitcoin’s clear upward trend has persisted, and the most recent leg up has taken the commodity to over $48,000. The performance of alternative coins has been even more spectacular, with ETH surpassing $3,300 and ADA rising by another 10%.
The Incredible Rise of Bitcoin
In the cryptocurrency markets, a lot may happen in a month, or even less in certain cases. The main cryptocurrency is an excellent example, having dropped to a low of $29,200 on July 20th.
However, when pessimistic sentiment took hold, the asset reversed its course. It began to recoup its worth quickly, reclaiming $30,000 and continuing to rise. It had acquired more than $10,000 in a couple of days, but this time, the $40,000 price line couldn’t contain BTC’s ambitions.
Thus, following small falls, bitcoin has continued to rise, reaching $47,900 earlier today – the highest price line in approximately three months. As a result, it increased by 65% in just over three weeks.
It has now retraced a few hundred dollars, but it remains over $47,500. Its market dominance has waned as cryptocurrencies have gone even greener, but the market cap is still above $900 billion.
Nothing except green can be seen by the alts.
In this era, alternative currencies have behaved similarly. As previously said, most have documented remarkable advances on a smaller scale. Ethereum has gained another 2.5 percent in value and is now trading above $3,300. It had previously reached a multi-month high of $3,320.
Binance Coin (3%), Polkadot (4% ), Uniswap (2% ), and Solana (2% ) have all seen minor rises. However, Chainlink (5%), Bitcoin Cash (5%), Dogecoin (6%), and Cardano ( 10% ) have gained far more.
After a 12% gain, Ripple’s performance is even more remarkable. As a result, XRP has reached a three-month high of $1.17.
QTUM is the most significant gainer among the top 100 coins. It is up 35% and currently trades at $15. Increases in XinFin Network (13%), Klaytn (12%), and EOS are also visible (10 percent ).
Ultimately, the overall market cap reached a multi-month high of slightly over $2 trillion earlier. This comes after over $200 billion has been added since the low on Thursday.
