Cryptocurrencies are rising after a difficult week in which the entire market trended down. The total value of all cryptocurrencies on the market as of this writing is $1.17 trillion, up 10.11% from the previous 24 hours, but -36.14% down from a year ago, according to the data presented by Coingecko.
Bitcoin and ETH lead the way higher
Bitcoin’s current market value of $501 billion indicates that it controls 42.89% of the market. Meanwhile, the market capitalization of stablecoins is $135 billion, or 11.54% of the total crypto market size, according to the analysis.
BTC is among the list of top gainers despite seeing a dip below the $20,000 level last week.
According to CoinMarketCap analysis, the asset is up 9% from its previous 24-hour price, showing how quickly bulls have acted in digital asset markets amid the downtrend. Furthermore, bitcoin has gained a remarkable 16% in seven days.
Ethereum, the second most valuable token by market capitalization, is also on today’s list of winners. Ethereum, which saw a rise of more than 6% in 24 hours, also posted a 12% gain in seven days.
Priced to sell at $1,771 at the time of writing, the 7-day charts show how bullish sentiment took over the market as ETH consolidated a steady uptrend over the past few days.
Altcoins are also up
Altcoins are also in an uptrend, as XRP, SOL, ADA, and Polygon posted price valuation gains within the same 24-hour period. Cardano, solana, and polygon all posted an increase of more than 5%, while XRP gained a not-so-impressive 3.5% at the time of writing.
However, Polygon’s current gains could be attributed to its latest revealed collaboration with Unstoppableweb to launch Polygon, a new set of web3 domains to give users a portable identity across 750+ dApps, games, and metaverses.
Memecoins were not forgotten, with the most famous of them, doge, gaining more than 7%, while shib also gained 6% in the same period.
