After experiencing a significant decline, the cryptocurrency market has begun to bounce back, with Bitcoin taking the lead. Bitcoin has managed to surge past the $69,000 mark, while Ethereum has also gained ground, climbing above $3,600. Other notable cryptocurrencies, including XRP, Cardano, and Solana, are also reaping the benefits with considerable upticks in their values. However, the trend for major memecoins remains bearish, as they continue to face losses.
Resurgence of Leading Cryptocurrencies
Recent data indicates that Bitcoin has achieved a 2.36% growth over the last 24 hours, though its trading volume has dipped. Ethereum follows suit with a 1.41% rise, hitting a market valuation of over $447 billion. Despite the general market recovery, Ethereum’s trade volume too has seen a decline. Binance Coin has enjoyed a notable 6.05% increase, with a corresponding rise in trading volume.
Solana, a crypto favorite, continues its ascent, registering a 5.79% increase, while its trading volume has also gone up. XRP’s and Cardano’s advancements are modest, with slight increases in their prices but reductions in trading volumes.
Jupiter’s native token, based on the Solana network, has notably soared by 40%, achieving a significant surge in trading volume and reaching record highs during this market rally.
Continued Slump of Memecoins
Contrary to the broader market uplift, prominent memecoins such as Dogecoin and Shiba Inu are extending their downward trajectory, registering further declines in value. Pepe, another well-known memecoin, has also witnessed a considerable drop, both in price and in trading volume.