Bitcoin Surges to Three-Year High, Altcoins Rally - Latest cryptocurrency news

Bitcoin Surges to Three-Year High, Altcoins Rally

Bitcoin (BTC) has achieved a significant milestone by reaching a price of $50,358, a peak that has eluded the cryptocurrency for the past three years. Despite a minor pullback, the digital currency has managed to sustain its value above the $49,000 threshold. In tandem with Bitcoin’s achievement, other high-volume cryptocurrencies, such as Ethereum, XRP, and Solana (SOL), have also experienced gains, with Ethereum surpassing the $2,600 mark.

Bitcoin’s Resilience in the Market

Although Bitcoin’s price has slightly decreased from its recent high, it remains robust, trading above $49,000. The latest data shows a notable 75.24% surge in trading volume within the last day, pushing the figure to $34.16 billion. This rise has helped elevate Bitcoin’s market capitalization to a near $1 trillion valuation.

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Ethereum and Altcoins Gain Momentum

Ethereum’s price has ascended by 6.12%, with the digital asset trading at $2,649.41, augmenting its market value to $318.41 billion. The cryptocurrency’s trading activity has equally been impressive, experiencing a 101.47% hike in volume. Meanwhile, Solana has recorded an increase of 7.91%, reaching a price of $114.16, with a trading volume jump of 83.54%, amounting to $2.80 billion in the last 24 hours.

XRP’s price action has displayed a modest gain of 1.65%, bringing its value to $0.5287, with a notable 35.20% rise in 24-hour trading volume to $1.01 billion, keeping it above the crucial $0.5 support level. Meme coins have also seen activity, with Dogecoin and Shiba Inu experiencing value increases of 2.11% and 2.72%, respectively.

In the altcoin space, ORDI stands out with a 14% surge over the past day, trading above $70 and seeing its market capitalization exceed $1.3 billion. The gaming token Beam has delighted its investors with a 13% rise on Tuesday, pushing its price to $0.02982 and its trading volume growing by 41.96%, reaching over $119.13 million.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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