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The leading cryptocurrency Bitcoin (BTC) kicked off the week on a high note, recording an increase of nearly 3% within the last 24 hours. It climbed to $28,400 price levels in the early hours of the day. According to CoinMarketCap (CMC) data, the total market capitalization of the crypto ecosystem reached $1.16 trillion. Most high-market-cap cryptocurrencies started their ascent in the morning hours.
Bitcoin Started the Week with a Rise
With Bitcoin’s growth contributing significantly, there was a 60% increase in its total transaction volume, as per CMC data. The cryptocurrency market, boosted by the value increments of Bitcoin, began the new week on a rising note. Ethereum (ETH), over the past 24 hours, recorded an average increase of about 3.3%, starting to trade from the $1900 price levels. The total market value of the crypto ecosystem soared to $1.16 trillion.
The cryptocurrency market embarked on the new week with high volatility. According to data shared by Coinglass, an average of $130 million worth of short and long positions were liquidated over the past 24 hours.
Featured Cryptocurrencies of the Day
Most altcoins in the cryptocurrency market started picking up speed in value increments since the morning hours, fueled by the rise in Bitcoin’s value. Some cryptocurrencies even recorded double-digit value increments during the day. PancakeSwap (CAKE), Injective (INJ), Mask Network (MASK), Quant (QNT), and Lido DAO (LDO), with their recent climbs, were among the top 100 cryptocurrencies by market cap on CMC, recording the highest value increments within the last 24 hours.
However, despite the upward trend shown by the cryptocurrency market on the first day of the week, there were cryptocurrencies that entered a downward trend during the day. Render Token (RNDR), Casper (CSPR), Flare (FLR), Toncoin (TON), and Kava (KAVA), following their recent declines, were among the top 100 cryptocurrencies by market cap on CMC, recording the highest losses within the last 24 hours.
