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Sunday, July 21, 2024

XRP, AVAX, TON Explode by Double Digits Daily as BTC Charted New ATH (Market Watch)

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Bitcoin’s gradual increase over the weekend and the positive start on Monday led to a fresh all-time high of almost $73,000.

Several altcoins have finally caught on, including XRP, which was trailing behind in terms of gains but soared to a multi-month peak of over $0.75.

BTC’s Latest Peak

It was a week ago when Bitcoin skyrocketed by several thousand grand and neared its 2021 all-time high of $69,000. It felt inevitable that this record set over two years ago would fall, and it indeed did last Tuesday.

Then came a violent rejection that pushed BTC south by nearly ten grand, leaving over $1 billion in liquidations. The bulls intercepted the move and drove Bitcoin north again, which resulted in the asset nearing the $69,000 level by Friday.

Later that day, they initiated another leg-up that resulted in BTC breaking above $70,000 for the first time ever. Another rejection followed, but it was short-lived, and Bitcoin remained relatively quiet at around $69,000 during the weekend.

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More gains came on Monday as the primary cryptocurrency soared by a few thousand grand and jumped to almost $73,000 to chart a new all-time high. Despite losing some ground since then, BTC is still trading well above $71,000.

Its market cap stands north of $1.4 trillion, placing it as the 8th largest financial asset in the world. Its dominance over the alts is close to 50% on CoinGecko.

BTCUSD. Source: TradingView

XRP, AVAX, TON on a Roll

While ETH, BNB, and SOL were posting impressive gains over the past few weeks, Ripple’s native token was trailing behind. However, this changed yesterday when XRP soared by double digits and tapped a multi-month peak of over $0.75. Despite losing some ground since then, XRP is still trading around $0.7 after a 12% daily surge.

AVAX (10%) is close to $50, while TON has stolen the show with a massive 27% increase that has pushed it to over $3.5.

The total crypto market cap has added another $20 billion on a 24-hour scale and now sits at $2.830 trillion on CG.

Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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