Bitcoin has surged to a new all-time high of $29,000, leading the gains among major cryptocurrencies. Cardano has surged the most, followed by Bitcoin Cash and Ethereum.
1. Bitcoin rallies to $29K, leading gains among crypto majors.
Bitcoin prices surged on Thursday, reaching a new all-time high of $29,000 on some exchanges. The rally came as the world’s largest cryptocurrency led gains among the major cryptoassets.
According to CoinMarketCap, Bitcoin prices reached a high of $29,000 on Thursday, up more than 18% from the previous day. The cryptocurrency has seen a dramatic surge in prices over the past week, climbing from around $10,000 to its current levels.
Bitcoin’s market capitalization has also ballooned in recent days, reaching a staggering $257 billion on Thursday. This marks a nearly tenfold increase from its market cap of just $27 billion at the start of the year.
The rally in Bitcoin prices has come as the cryptocurrency continues to gain favor with investors. The number of Bitcoin wallets has also surged in recent months, with the total number of wallets reaching 18 million in November.
2. Cardano leads the pack with a 45% surge.
The Cardano cryptocurrency surged by 45% on Thursday, according to CoinMarketCap. This was the largest increase among the top 10 cryptocurrencies. Bitcoin, the largest cryptocurrency by market capitalization, only increased by 3%.
This increase in Cardano’s value could be attributed to the news that the founder of Cardano, Charles Hoskinson, is joining the advisory board of the United States-based blockchain company, Securitize. Hoskinson is a well-known figure in the crypto world, and this news is likely to increase confidence in Cardano.
3. Ethereum, Bitcoin Cash, and Litecoin also experience notable gains.
Bitcoin, Ethereum, Bitcoin Cash, and Litecoin all experienced notable gains on Monday. Bitcoin was up more than 4%, Ethereum was up more than 5%, Bitcoin Cash was up more than 10%, and Litecoin was up more than 7%. This continued the trend of strong performance for cryptocurrencies in recent weeks. Many analysts believe that the bull market is still in place and that the prices of these coins will continue to increase in the coming months.
4. Ripple and Stellar experience slight losses.
Cryptocurrencies Ripple and Stellar experience slight losses, as the market takes a slight downturn. Ripple falls 2.5% to $0.816, while Stellar falls 3.5% to $0.183. These losses are in line with the overall market, as the total market capitalization of all cryptocurrencies falls 2.5%. The market is still up significantly from this time last year, with a total market cap increase of over 1000%. Despite the downturn, Ripple and Stellar remain two of the top 10 cryptocurrencies by market cap.
5. Overall, the crypto market is bullish, with a total market cap of $235 billion.
Despite the current bear market, crypto investors remain bullish on the future of the market. The total market cap for all cryptocurrencies is currently $235 billion, with Bitcoin making up over half of that value. While there is volatility in the market, the overall trend is upward, and investment in the space continues to grow.
The rally in bit coin and other cryptocurrencies comes as investors look for opportunities amid a sell-off in traditional assets. The sharp rise in Bitcoin has drawn comparisons to the dot-com bubble of the late 1990s.
