Various altcoins have followed suit, displaying impressive gains alongside Bitcoin’s rally.
Summary:
- Bitcoin surged, briefly hitting $35,000, sparked by growing excitement about Bitcoin ETF developments.
- Notable altcoins rallied in parallel with Bitcoin’s surge, attracting investor attention.
- MINA, utilizing ZK cryptography, surged 102% and traded at $0.841.
- UNFI, driving the Unifi Protocol for cross-chain DeFi, saw a 37% rise, now trading at $8.72.
- Bluezelle (BLZ), delivering scalable data services, surged by 30%, currently trading at $0.2474.
- PEPE Coin ($PEPE), a popular meme coin, witnessed a 34.25% surge, priced at $0.00000098.
- Injective, designed for the finance industry, rose 20%, currently trading at $12.45.
- Other altcoins like LINK, SOL, and ADA also displayed significant double-digit increases.
The cryptocurrency landscape is witnessing a resurgence as Bitcoin (BTC) continues to rise. On Monday, Bitcoin’s price catapulted, momentarily reaching the $35,000 milestone, driven by a surge of optimism surrounding potential developments in the Bitcoin ETF arena. Breaking through this significant barrier for the first time since May 2022, BTC showcased a remarkable gain in the past 24 hours.
According to data from TradingView, the upward trajectory of Bitcoin commenced on October 23, with the price surging over 10% from $31,000 to breach the $34,000 threshold. In a matter of hours, Bitcoin continued its ascent, reaching a peak of $35,300. As of the time of writing, the price of Bitcoin stands at $34,448.
It is worth noting, however, that some prominent altcoins have rallied alongside Bitcoin’s soaring surge, catching the attention of cryptocurrency investors and enthusiasts alike. Here, we spotlight some standout altcoins.
MINA
Mina is a proof-of-stake blockchain, employing zero-knowledge (ZK) cryptography to achieve an exceptionally small size. This innovative data compression technique utilizes advanced mathematics to validate transactions with minimal metadata. As of writing, Mina has surged an astounding 102% in the past 24 hours and is trading at $0.841.
UNFI
UNFI is an Ethereum token that drives the Unifi Protocol, a platform for creating cross-chain decentralized finance (DeFi) applications. UNFI holders can propose and vote on protocol upgrades while staking their tokens to earn rewards. This decentralized finance approach, based on a decentralized autonomous organization (DAO), seeks to introduce cutting-edge technology to the financial realm. UNFI has seen a remarkable 37% rise in the past 24 hours, with a current trading price of $8.72.
Bluezelle
Bluezelle (BLZ) is a decentralized blockchain-based ecosystem designed to offer scalable data services. Its primary objective is to provide the tools and technical capabilities necessary for efficient data storage and management. With a focus on blockchain-based databases, Bluezelle has surged by 30% in the past 24 hours, currently trading at $0.2474.
PEPE
PEPE Coin ($PEPE) is a prominent meme coin operating on the Ethereum blockchain. Since its public launch in April 2023, it has quickly become one of the most traded cryptocurrencies, achieving remarkable milestones in a short time. Trading at $0.00000098, PEPE has witnessed a 34.25% increase in value over the last 24 hours.
Injective
Injective is a blockchain purpose-built for the financial industry. It serves as an open, interoperable layer-one blockchain, enabling next-generation decentralized finance (DeFi) applications, including decentralized exchanges, prediction markets, and lending protocols. Injective offers financial infrastructure primitives for DeFi applications, such as a fully decentralized on-chain orderbook that resists miner extractable value (MEV). With full on-chain support for various financial markets, Injective is trading at $12.45, reflecting a 20% increase in value over the past 24 hours.
Unprecedented Crypto Momentum
The recent surge in Bitcoin’s price has triggered a wave of enthusiasm across the cryptocurrency market, with numerous altcoins experiencing substantial gains in tandem with the leading digital asset.
Notably, altcoins such as LINK, SOL, and ADA have also demonstrated impressive double-digit price increases.
Moreover, with a notable 8.22% rise in the total market capitalization of meme coins and a remarkable 83% surge in trading volume over the past 24 hours, the meme coin category asserts its influence and presence in the evolving crypto market.
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Author
Soumen Datta
