• 30 May, 2024
Market News Markets

Ethereum and Solana Ride Bitcoin’s Wave As Market Cap Hits $2.50 Trillion

Bitcoin’s ascent above $64,000 continues to captivate investors, marking yet another milestone in its remarkable journey. As highlighted by CryptoRank, an analytic firm, the major rally in this crypto currency has set the tone for the whole market, with the top ten coins all in the green zone.

Interestingly, TON, the top gainer with a 6.08% performance, displays a great performance compared to that of Ethereum (ETH), and Solana (SOL), which have recorded gains of 2.06% and 1.92% respectively. Consequently, the ongoing outlook is quite bullish as seen reflected from the market capitalization at $2.50 trillion after a noteworthy 1.53% increase. Despite this surge, the Bitcoin dominance has experienced a slight dip, currently standing at 50.72%.

Market Investors’ sentiments for greed like those represented on the Fear & Greed index stand at 71, which is a clear manifestation of the general optimism and aggressive risk appetite.

In the realm of gains, various altcoins have stood out as top performers, providing investors with respectable return rates. Celsius (CEL) leads the pack with an astonishing 59.8% surge, followed closely by Frontier (FRONT) and Alephim (ALEPH), boasting gains of 42% and 32.3%, respectively. Tellor (TRB) and Phoenix (PHB) also join the ranks of top gainers, with impressive increases of 28.6% and 23.4%, respectively.

TON, the prominent performer, had just witnessed impressive price gains, its current price standing at $6.12 and its 24-hour trading volume reaching $217,860,701. Ethereum, the second-largest digital currency in terms of market capitalization, is not much behind, which is evident from its price being $3,202.65 and a large trading volume of $9,203,300,763 in the same timeframe. Solana follows suit, commanding a price of $155.41 and a robust trading volume of $1,662,457,788.

Celsius however tracks its ascent by trading at $0.590951, accompanied by a relatively high 24-hour trading volume of $72,369,673. On the other hand, Frontier has recorded phenomenal growth as it trades at $1.18 with a very high trading volume of $183,889,890.

Alephim, despite a slight dip, maintains a strong position, trading at $2.26 with a 24-hour trading volume of $1,158,611. Tellor and Phoenix also showcase resilience, trading at $97.31 and $0.002455, respectively.

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