This week, the crypto economy soared to an astounding $3.29 trillion. Bitcoin ( BTC) rose by 10%, while ether ( ETH) followed closely with a 9% uptick. Meanwhile, a wide array of alternative digital currencies posted impressive gains, with many achieving growth in the double- and even triple-digit range.
Altcoins Shine as Crypto Economy Hits $3.29T: OM, XLM, ADA and XRP Drive the Frenzy
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From DOGE to XLM, Crypto Market Thrives
As bitcoin ( BTC) inches ever closer to the $100,000 mark, the entire crypto market has seen substantial growth. By noon ET on Friday, the total crypto market valuation hit $3.29 trillion, with several tokens strengthening against the U.S. dollar. Among the top performers over the last seven days was mantra dao (OM), boasting a 120.48% increase. Stellar ( XLM) wasn’t far behind, with a 115.86% jump, and hedera hashgraph (HBAR) climbed 97.88%.
The meme-inspired dog go to the moon (DOG) coin rose by 67.84%, while xrp (XRP) gained 66.49%. Curve dao (CRV) swelled by 60.43%, and the root network (ROOT) surged 58.97%.
Tezos ( XTZ) added 53.56% to its value, and cardano (ADA) grew by 47.60%. Flare (FLR) increased 45.59%, and cosmos ( ATOM) saw a 44.68% boost. Other notable gainers included OP, ALGO, QNT, ARB, and VET.
In terms of trading volume, dogecoin (DOGE) claimed the top spot, trailed by solana (SOL), cardano ( ADA), pepe (PEPE), stellar ( XLM), binance coin ( BNB), and shiba inu ( SHIB). However, while many coins thrived this week, others faltered.
The meme coin MOODENG dropped 38.81%, while ACT fell 37.74%. Newcomer PNUT declined 29.9%, and the AI-generated meme coin GOAT slipped by 15.54%. The crypto market’s rally underscores a dynamic landscape where growth, driven by a mix of leading assets and niche tokens, suggests increased investor confidence and speculative fervor.
With bitcoin approaching $100,000 and altcoins posting extraordinary gains, the momentum highlights both the allure and risks inherent in this rapidly evolving sector, keeping stakeholders keenly focused on what lies ahead.
