Alternative Cryptos Soar with Double and Triple Digit Gains
While bitcoin and ethereum saw notable increases of 13% and 10% respectively, other cryptocurrencies experienced even more impressive growth in the past week. Terra luna classic (LUNC) surged by 122.5% against the dollar, and the BRC20 token ORDI rose by 118.3%. Additionally, a group of six cryptocurrencies, including LUNC, ORDI, IOTA, TIA, STX, and WEMIX, soared over 50% in value compared to the dollar.
Weekly Statistics and Market Data
In the same period, ORDI increased by over 118%, IOTA jumped by 89.9%, TIA rose by 54.2%, WEMIX climbed by 52.5%, and STX saw a 50.3% increase. Currently, the overall value of the crypto market stands at $1.611 trillion, with a 3.9% increase from the previous day. The global trading volume across numerous cryptocurrencies on different exchanges is approximately $106.47 billion. Bitcoin’s market dominance is at 50.9%, followed by ethereum at 16.8%.
Cryptos with Growth and Decline
Aside from the six standout performers, FXS, NEAR, RUNE, LUNA 2.0, and TAO all recorded over 20% growth against the U.S. dollar. On the other hand, TON, INJ, BGB, AXS, ILV, and LEO experienced declines of more than 2% in the past week.
Trading Volumes and Liquidations
Tether (USDT) leads in trading volume over the last 24 hours with $55.40 billion, while bitcoin (BTC) comes in second with a global volume of $29.67 billion. Other significant trading volumes are seen in ETH, SOL, XRP, DOGE, BNB, and LUNC. Moreover, $182.58 million worth of crypto shorts were liquidated in the last 24 hours, with notable liquidations from BTC, ETH, SOL, LUNC, STX, LINK, and ORDI.
Hot Take: Cryptos Exhibit Strong Performance and Market Momentum
The recent surge in alternative cryptocurrencies highlights their potential for significant gains, with some achieving double or triple-digit growth within a short period. While bitcoin and ethereum remain leading players, the market is demonstrating broader strength and diversity. This upward trend signals growing investor interest and optimism in the crypto market as a whole.
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