Bitcoin And Ethereum Lead the Cryptocurrency Market Uptrend
By Kapil Rajyaguru
Bitcoin, after a three-day struggle, surpassed the psychological barrier of $70,000 on May 27. This indicates that the bulls are maintaining control. However, on Tuesday Asian morning trade, Bitcoin settled around $69,600, up by 1.56% in the last twenty-four hours.
Ether, the second largest cryptocurrency by market cap, was changing hands around $3880, up by almost 1% in the similar time frame.
PEPE has become the biggest gainer on a weekly scale and the popular meme coin has only doubled down on its run in the past 24 hours. A further 13% surge since yesterday has propelled PEPE to yet another all-time high of just over $0.000017. In fact, only JASMY has outperformed it on a 24-hour scale.
FLOKI and BONK are also well in the green, with gains of around 13% each. Even though most larger-cap alts are sluggish.
In contrast, DOGE, XRP, TRX, AVAX, NEAR, and BCH are slightly in the red.
Solana fell to the $162 breakout level, indicating a lack of demand at higher levels.
Toncoin (TON) has been trading near the 20-day EMA in recent days, signaling a balance between supply and demand. If the price rises above $6.75, it will turn the short-term advantage in favor of the bulls. The TON/USDT pair will then attempt to rise towards $7.67, where the bears are expected to make a strong defense.
The global crypto market cap is $2.6T, a 1.72% increase over the last day. The total crypto market volume over the last 24 hours is $83.3B, which makes a 43.93% increase. The total volume in DeFi is currently $6.85B, 8.23% of the total crypto market 24-hour volume. The volume of all stable coins is now $76.96B, which is 92.38% of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 52.78%, an increase of 0.10% over the day.
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