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Crypto Market Rises by $30B in 48 Hours — Bitcoin Cash Leads With 88% Weekly Gain
On Sunday, June 25, the cryptocurrency market experienced a modest increase in value, climbing from $1.21 trillion two days prior to its current value of $1.24 trillion. Bitcoin has surged 15% in the past week, while ethereum has risen over 10% against the U.S. dollar. Furthermore, numerous other crypto assets have made notable gains, with bitcoin cash leading the way with an 88.2% increase.
Crypto Economy Swells With Bitcoin Cash, Pepe, and Aave Leading the Way
Over the past 48 hours, the cryptocurrency market’s worth has grown by an additional $30 billion. As of June 25, among the 9,941 cryptocurrencies listed on coingecko.com, the market cap stands at $1.24 billion – a 0.4% increase at 9:34 a.m. (ET) within the last day. This week witnessed bitcoin (BTC) soar by 15.7%, while ethereum (ETH) jumped by 10.4%. Apart from BTC, cardano (ADA) experienced the largest weekly gains among the top ten cryptocurrencies by market cap, amassing 11.3%.
In the past day alone, global crypto trade volume reached $38.62 billion; of this sum, $24 billion were paired with stablecoins. The most significant weekly gain was achieved by bitcoin cash (BCH), which rose 88.2% against the U.S. dollar. As of Sunday at 9 a.m., BCH is trading at approximately $202.35 per unit and claims the sixth-highest trade volume today with around $1.31 billion in transactions during the last day.
Pepe (PEPE) also emerged as one of this week’s market frontrunners, increasing by 64.7% within seven days. In terms of trade volume within a day’s time frame, PEPE occupies today’s eleventh position among top traded cryptocurrencies per coin. PEPE’s trading volume on Sunday amounts to approximately $312 million, and the token trades for $0.00000159 per unit at 9:34 a.m. Furthermore, decentralized finance (defi) platform Aave’s crypto asset, aave (AAVE), witnessed a 47.1% increase this week. Aave currently ranks ninth in global trade volume, reporting a substantial $559 million over the past day.
Bitcoinsv (BSV) experienced a notable 44.8% weekly uptick against the dollar, making it the fourth-largest gainer in growth. Additionally, the kava (KAVA) token rose by 36.7%, and synthetix (SNX) leaped 28.3% within a week’s time. Despite these gains, six cryptocurrencies incurred losses ranging from 1.2% to 6.8%. Among these are two gold-backed assets: XAUT and PAXG. Kucoin (KCS) lost 6.8% against the U.S. dollar this week, rocketpool (RPL) dropped by 5%, and BNB shed around 2.8% this week. Another loser was bittorent (BTT) as it lost 1.7% against the U.S. dollar over the past seven days.
What are your thoughts on the recent surge in the cryptocurrency market? Share your thoughts and opinions about this subject in the comments section below.
