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.
Yuri Molchan
Arman Shirinyan
Dan Burgin
Vladislav Sopov