This weekend starts with remarkable gains in BTC and other altcoins, unlike the previous weekend. Bitcoin, for instance, rose to just below $25,000.
ETH’s stock shot up to a multi-month high, exceeding $2,000.
ETH Spikes above $2K
The Merge is the most anticipated event in the cryptocurrency industry. It will see Ethereum move from PoW to PoS. According to the latest reports, it may happen sooner than people thought. The hype surrounding the event has had a huge impact on ETH’s value.
It has gained over 6% in the last 24 hours and is now at $2,000, having risen to nearly $2,050 earlier today. This asset has seen its highest price since May, when it was valued at $2,000
Cardano has risen by similar percentages to $0.6. MATIC and Solana are up about 10% each day, to $1 and $47 respectively.
BNB, Ripple and Polkadot, Avalanche and Shiba Inu all have modest gains but are still in the green daily.
The cumulative market capitalization, which has risen to more than $50 billion per day, now stands at $1.2 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
Bitcoin Close to $25K
Due to the Merge hype, several altcoins have outperformed the primary cryptocurrency, including ETH. However, the price of the primary cryptocurrency has seen significant increases against the dollar in the last few days.
Two days ago, BTC spiked to $24,900 on Bitstamp. This was a new two-month high, but it was then retraced by more than $1,500 to below $23,500 yesterday.
Bitcoin rose again after the positive sentiment in the market drove it up over the next 24 hours. The asset was just inches away of touching $25,000 just a few hours earlier. It has not been able to tap $25,000 as of right now, but it is still more than 33% higher on the day.
Although its market capitalization has increased to $470 billion it is still a dominant player over other alts at 40.4%.
BTCUSD. Source: TradingView
CryptoPotato’s Weekend Watch: ETH Rises Above $2,000 to Multimonth High appeared first on CryptoPotato.
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