Massive Crypto Rally: Bitcoin Tops $35,000 While XRP Surpasses $0.55
Bitcoin, the top cryptocurrency, recently surpassed the $35,000 level after a massive rally.
According to CoinGecko data, the Bitcoin price stands at $33,864 after experiencing a 10.3% growth over the last 24 hours.
Ethereum (ETH) follows closely with a price of $1,807 and a 7.2% gain. Other major players include BNB, valued at $227 with a 3.2% growth, and XRP, standing at $0.54, after witnessing a 2.0% ascen and surpassing the $0.55 level.
Notably, Solana (SOL) has seen an impressive 29.5% weekly surge, outperforming every other major coin.
Bitcoin steals the spotlight
A recent report by CoinShares highlights that institutional crypto products have shown positive inclines for four consecutive weeks.
These products, distinct from direct crypto holdings, are exchange-traded products that track cryptocurrency values and are provided by companies such as Grayscale, 21shares, and Proshares.
Last week's investments culminated at $66 million, with a dominant 83.7% ($55.3 million) channeled towards Bitcoin.
A $10 million liquidation order
The market has also witnessed a significant wave of liquidations, according to CoinGlass data. A staggering $402.01 million was liquidated in just the past 24 hours.
This affected a massive count of 94,693 traders, with the most substantial single liquidation order, a $9.98 million transaction, taking place on the Binance BTCUSDT pair.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Related articles
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov