The cryptocurrency market has gone parabolic over the past couple of days, and this has resulted in considerable gains across the board.
Bitcoin is trading above $30K for the first time since April, while other altcoins are also well in the green.
The positive sentiment across the market has seen Bitcoin’s price surge past $30,000 for the first time since April 26th, as seen in the chart below.
As a matter of fact, the cryptocurrency managed to tap $30,800, but the bulls were unable to sustain the momentum, and the price corrected to where it’s currently trading at slightly above $30K.
With that latest increase, BTC is up a whopping 20.8% for the past seven days and over 4% for the past 24 hours alone, making it one of the best performers. The BTC dominance, measuring its share relative to that of the rest of the market, is also gaining steam, showing that the primary cryptocurrency is outperforming the altcoin market.
The altcoin market is also performing very well. Ripple’s XRP managed to finally find some strength and recover above the coveted mark of $0.5. It’s up over 3% for the past 24 hours and almost 9% for the week.
It’s far from being the best performer from the top 20, though, as MATIC soared by 8%, ETH – by 5.3%, ADA – by 8.6%, and so forth.
As seen in the heatmap below, the market is swimming in a sea of green.
PEPE – the popular meme coin that caught fire a few months ago, is today’s best performer, exploding by 33.8%, bringing total gains close to 70% for the week. CFX is following closely with 20% daily gains.
Huobi Token (HT) is the only cryptocurrency alongside Rocket Pool (RPL) that failed to increase in the past 24 hours. Both are down some 1% over the period.
