As bitcoin soared to a new monthly peak above $22,400, the bulls continue to control the market. Altcoins also have good fortune, with ETH reaching a local peak at nearly $1,500. MATIC has seen double-digit growth.
ETH, MATIC, AVAX, ETC Lead
Most altcoins have been doing well over the past few days, but Ethereum is leading the charge. ETH is on a roll, perhaps due to the 9th shadow fork being live. Although the asset was at $1,000 on July 13, it has gained almost 50% since then, and is now near $1,500. This is after a further 9% increase over the last 24 hours.
Other larger- and middle-cap alts have also impressed on a daily basis. MATIC is one of those alts that has seen a jump of 18% to $0.9. The asset has also risen by more than 65% in less than a week.
ETC saw a similar percentage increase in one day and trades at $23. OKB and AVAX have risen by approximately 10% to $14 and $24, respectively.
BNB, XRP and ADA are performing well, although they are smaller.
In the last two days, the cumulative market capital of all crypto assets increased by more than $100 billion. The metric has now surpassed $1 trillion for only the second time in two weeks.
Cryptocurrency Market Overview. Source: Quantify Crypto
Bitcoin’s New Monthly Maximum
Propelled by the US CPI numbers, the primary cryptocurrency also fell hard on July 13. The asset was trading at $19,000 due to extreme volatility.
The landscape is now quite different. Bitcoin was quick to react to the drop in value and began regaining its value almost immediately. Bitcoin reached $20,000 by the weekend, and even rose to $21,000.
It was also quite bullish in the past 24 hours. Bitcoin climbed to nearly $22,500 from its current location, and added over $1500. This is the highest Bitcoin price in more than a month.
Bitcoin’s market cap is now at $430 billion. However, its dominance over altcoins remains at 42%.
BTCUSD. Source: TradingView
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.