September 30, 2022

Crypto Market Cap Tops $2.6 T: Solana Explodes 20% and ETH Up 8% (Market Watch)

2 min read

The six-month waiting is over as bitcoin handled to break the previous all-time high and set a new one at $67,000 the other day. While the asset has lost some ground since then, numerous altcoins have actually started to chart impressive gains, consisting of ETH and SOL.

Bitcoin’s ATH at $67,000

As reports began to heighten declaring that the United States Securities and Exchange Commission will lastly enable a Bitcoin ETF in the nation last week, the concern of whether or not the possession will break its April all-time high was just a matter of when not if.

BTC went above $60,000 for the first time in six months after news that ProShares’ ETF will go live on October 19th and stood north of that level for most of the weekend.

As the exchange-traded fund certainly started trading on Tuesday, bitcoin as soon as again pumped and came just $500 away from its record. Everything changed yesterday, though, when the cryptocurrency increased well above $65,000.

It really went as high as $67,000 in the following hours, which ended up being the new record. Although it has retraced by more than $1,000 ever since, its market capitalization is still well above $1.2 trillion.

BTCUSD. Source: TradingView

BTCUSD. Source: TradingView Altcoins: Green Takes Over The alternative coins had actually failed to follow their leader north in the past a number of days, but the scenario is rather various now. Ethereum is among the most significant gainers following an 8%increase. As an outcome, the second-largest crypto had finally broken above $4,000 and trades just shy of $4,200.

Binance Coin, Ripple, and Dogecoin have marked more modest gains, while Cardano, Polkadot, Terra, Litecoin, Uniswap, and Avalanche are up by 6% to 10%.

Nevertheless, Solana has risen the most from the top 10 coins. SOL is up by almost 20% in a day and is close to $190.

More gains originated from Nexo (20%), Flow (15%), THORChain (15%), Enjin Coin (14%), The Graph (13%), Ren (12%), Qtum (12%), and more.

The crypto market cap, which also broke its old all-time high, has actually increased to $2.650 trillion currently. The metric is up by $400 billion in a week.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto