With rising expectations for the potential approval of the United States’ first spot Bitcoin ETF, the price of the largest cryptocurrency has surpassed $47,000 for the first time in nearly two years. This surge in Bitcoin’s price has also led to significant growth in many altcoins. Particularly, three altcoins listed on the Binance exchange have seen sharp increases.
Current Status of Bitcoin and Altcoins
With the increase in institutional interest, the price of the largest cryptocurrency, Bitcoin, has risen by approximately 8% in the last 24 hours, reaching $46,931. Bitcoin’s market value has risen to $919.5 billion, while its trading volume has seen a 103% increase in the last 24 hours, reaching $43.2 billion.
Ethereum (ETH), the third-largest cryptocurrency, has also followed a similar upward trend, gaining about 5.5% in value over the last 24 hours to reach $2,311. At the time this article was prepared, ETH had a market value of $277.9 billion, and its trading volume increased by 68% in the last 24 hours, reaching $13.2 billion.
The price of Binance’s BNB has increased by 1.8% and XRP’s price by over 2.3% in the last 24 hours. The majority of the top 10 cryptocurrencies by market value have risen sharply. Solana’s SOL has increased by about 16%, Cardano’s ADA by 11%, and Avalanche’s AVAX by over 14% in the last 24 hours.
The two largest memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB), have risen by 5.2% and 7.5% respectively in the last 24 hours. The total value of the cryptocurrency market has increased by over 7% in the last 24 hours, reaching $1.71 trillion. The Crypto Fear and Greed Index reached a level of 74, indicating positive investor sentiment across the market.
Three Binance-Listed Altcoins See Sharp Increases
One of the altcoins listed on Binance, Rootstock Infrastructure Framework’s RIF, has seen a 33.83% increase in the last 24 hours, trading at $0.1617. Data shows that RIF’s price has increased by 18.42% in the last 7 days and by 14.95% in the last 30 days.
Another Binance-listed altcoin, Bonk, has seen a 25.02% increase in the last 24 hours, trading at $0.00001276. Data indicates that the popular memecoin has fallen by 12.28% in the last 7 days.
Moreover, Internet Computer’s ICP, another altcoin listed on Binance, is also among the day’s top gainers. ICP is trading at $13.47, up 20.84% in the last 24 hours at the time this article was prepared.
