There are certain altcoin season vibes going on in the crypto market over the past weeks, as many representatives have marked notable price surges.
The trend is led by none other than the largest of them all – Ethereum, which has soared by another 8% in the past day, and trades well above $2,500.
ETH’s Roll Continues
ETH’s price plunged hard just over a month ago as it dropped to its lowest levels in over a year on April 9 at $1,400. It managed to bounce off in the following weeks but still struggled to reclaim $1,800 decisively. After the latest positive macro developments and the Pectra upgrade, its price finally started to climb hard.
On a daily scale, ETH has soared by nearly 9%, but its weekly surge is a lot more impressive – almost 40%. This has put its price tag at well above the psychological resistance of $2,500.
Many altcoins have followed suit with notable price increases as well. DOGE is in a league of its own from the larger ones, having surged by over 16% and now trading above $0.24. ADA, AVAX, LINK, SHIB, HBAR, TON, and PEPE are other impressive examples.
PI, UNI, and NEAR have also had double-digit price pumps over the past day, while LEO is among the few in the red.
The total crypto market cap has added another $70 billion and is up to $3.470 trillion on CG.
Bitcoin Back to $104K
Although BTC is still in the green on a daily scale, its increase is a lot more modest. BTC has jumped by less than 1% and trades above $104,000 after it was stopped at $105,000 earlier.
On a weekly scale, though, bitcoin has jumped by almost 9%. It finally managed to break through the $100,000 barrier this week for the first time in over three months.
However, its dominance over the alts has taken a big hit. Recall that the metric was riding high at roughly 62% just until several days ago but has dropped to under 60% as of now.
Its market cap, on the other hand, continues to increase and is up to $2.070 trillion on CG.
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