#AltcoinSeasonLoading The total value of the cryptocurrency market increased by nearly $400 billion: details
The total value of the cryptocurrency market rose by about $400 billion in just a few days, driven by the price of Bitcoin exceeding $103,000, achieving its highest level in months at over $104,000, before the price slightly decreased and stabilized above $103,000.
Bitcoin has experienced sharp fluctuations in the past few days, after the market refused to surpass the $98,000 level on May 6, the price dropped to below $94,000.
However, the upward trend remained intact, as the digital currency Bitcoin added about $20,000 since early April, driven by ongoing upward momentum.
In a short period, the price of Bitcoin broke the $100,000 barrier and stabilized within the six-figure range for the first time in over three months.
By the end of the week, Bitcoin recorded a weekly increase of 7% and a monthly increase of 26%, raising the market capitalization of the crypto market to $2.05 trillion, despite its dominance in the market dropping to 60.5% due to the strong performance of alternative coins.
Therefore, the increases were not limited to Bitcoin.
As alternative digital currencies continued the upward wave, the price of Ethereum surpassed $2,350 after an additional 6% gain, despite facing strong resistance.
Coins like Binance, Solana, Avalanche, and Shiba showed similar performance.
Dogecoin also recorded an increase of over 12%, surpassing the $0.21 level.
Meme coins, in turn, led the gains, with PEPE and FARTCOIN taking the spotlight with significant price increases.
Thus, the total market capitalization of cryptocurrencies reached $3.4 trillion, a remarkable jump compared to the value recorded on May 6.$BTC $ETH $BNB #AltcoinSeasonLoading #AltcoinSeasonComing #AltcoinTrade #BTCBackto100K BTC #TradeOfTheWeek