Crypto Markets Experience $100 Billion Surge in Daily Trading Volume as Bitcoin (BTC) Approaches $72K (Market Watch)
After a relatively calm weekend, Bitcoin’s price has once again surged on Monday, reaching a new all-time high of nearly $72,000. The altcoins have followed suit, with NEAR leading the way with an impressive 20% increase, closely followed by LINK and LTC.
BTC’s Latest All-Time High (ATH)
The start of this week mirrors the events of the previous week. BTC remained quiet over the weekend, hovering just below $62,000. However, as the business week commenced, the cryptocurrency experienced a significant surge, resulting in a several thousand USD gain and bringing it to the doorstep of 2021’s ATH.
The inevitable fall of the $69,044 level occurred later in the week, followed by a substantial decline that pushed BTC down by approximately ten thousand USD. However, the bulls quickly stepped in to recover most of the losses by Friday. Another rally ensued, propelling BTC above $70,000 for the first time ever, yet it faced resistance once again.
While the weekend saw less volatility, Bitcoin continued its ascent towards $70,000. Today, it decisively overcame that level, surging above it and reaching $71,750 (as of now).
BTC’s market dominance now stands at 49.7% with a total market cap exceeding $1.4 trillion.
NEAR Takes the Spotlight
On a daily scale, most larger-cap altcoins have also experienced gains. Ethereum saw a modest 2% increase, trading just above $4,000. Binance Coin reached a multi-year peak of $530 after a 2% daily surge.
Chainlink, IMX, and Litecoin all saw substantial gains of 6-8% today. However, the native token of NEAR Protocol stole the show with a remarkable 20% increase, pushing NEAR’s value well over $7.
The total crypto market cap has added over $100 billion within a day and about $200 billion in the past week, surpassing $2.8 trillion for the first time in over two years.