Investors reflected the belief that the trust environment has been restored, and the idea of a rise in crypto prices has been refreshed as of November 20th. In the market, there is optimism based on the possible approval of the Bitcoin Spot ETF and rumors have triggered the recent surge.
Current Situation in Cryptocurrencies
Last week, the upward trend reversed due to traders’ cautious behavior and some of their gains were erased. In addition, BlackRock filed a Spot Ethereum ETF last week, but the SEC delayed all ETFs in the US with its decisions.
In particular, the FOMC minutes to be announced on Tuesday, November 21st, are of critical importance for investors. This week, there will be a statement where investors can find answers about the current economic health of the US economy and the potential move of the Fed regarding interest rate hikes in the coming days.
While the price of Bitcoin traded at $37,142, the trading volume increased by 20.11% to $14 billion. The recent rise in cryptocurrencies also helped to partially recover from the recent losses, with a 0.53% increase in the past 7 days.
There was a 2.45% increase in the price of Ethereum, and it is trading at $2,002.57. XRP, which leads the altcoin list, saw a 2.69% increase and rose to $0.6239. After days of decline, Solana increased by 3.38% to $59.98 at the time of writing. There was also an increase in the price of Cardano, reaching $0.3832.
While Dogecoin increased by 2.32% to $0.08025, there was a noticeable decrease in its volume, dropping by 55.99% to $541.48 million. Additionally, Shiba Inu also experienced a relatively small increase, trading at $0.000008632 with a 2.13% rise.
Pepe Coin had a more significant increase compared to its competitors, with an 8.89% rise to $0.000001229. There was also a 78.83% increase in trading volume in the last 24 hours, reaching $92.87 million. Most importantly, the price of PEPE has increased by 90% in the last 30 days.
Top Altcoins of the Day
The price of Synthetix has become one of the top gainers of the day, trading at $3.56 with a 21.14% increase. In the latest analysis conducted yesterday, it was observed that the trading volume increased by 106.89% to $151.83 million.
Another top gainer of the day was NEAR Protocol. In the last 24 hours, it increased by 14.26% to $2.03. The trading volume also rose by 60.88% to $289.68 million. Lastly, the price of Arweave increased by 12.03% on Monday and is being traded at $8.95.
