Cryptocurrencies Surge: Bitcoin Hits New High, Boosting Ethereum, Solana, and Dogecoin Prices
Cryptocurrency Values Soar: Bitcoin, Ethereum, Solana, and Dogecoin Reach New Heights
On Thursday, Bitcoin inched up to yet another all-time high mark, surpassing its four-month-old record set the day prior. This upward momentum has seemingly extended to other prominent digital currencies, which have recorded even larger daily gains than Bitcoin.
As of now, Bitcoin has reached a new record price of $111,808, according to data from CoinGecko. The leading digital asset has continued its ascent following its breach of the $110,000 threshold late on Wednesday. Bitcoin has gained 4.5% on the day and 22% over the previous 30 days.
The impressive rebound of Bitcoin comes after a dip below $75,000 in early April amid escalating global trade tensions led by President Trump. As Trump's tariffs offensive has cooled due to agreements with critical trading partners, investors have resumed trusting risk-on assets, driving up crypto and stock values simultaneously.
Alongside Bitcoin, Ethereum, Solana, and Dogecoin have all seen impressive growth over the past day. Each coin has jumped by approximately 7%, outpacing Bitcoin's own daily gain.
Currently, Ethereum is priced at $2,662, translating to a remarkable 56% month-to-date gain. Solana stands at $179, up 24% in the last month, while Dogecoin has surged to $0.242, marking a nearly 41% increase over the same period.
Expanding the focus to the top 100 coins by market cap, Worldcoin and the HYPE token of decentralized exchange Hyperliquid are among the day's top gainers. Worldcoin has witnessed a sizable 36% growth due to a substantial $135 million token sale announced on Wednesday, while the HYPE token has risen by 23%. Furthermore, the meme coin Fartcoin has climbed by 17%.
Background
- In November 2021, Bitcoin achieved an all-time high of approximately $69,000. Since then, it has demonstrated significant volatility.
- Ethereum reached an all-time high of around $4,900 in November 2021, also exhibiting considerable fluctuations since then.
- Solana hit an all-time high of around $259 in November 2021, and it has shown signs of potential recovery towards new highs.
- Dogecoin's all-time high was reached in May 2021 at approximately $0.73, but it has struggled to regain that level since then, despite recent gains.
- Noteworthy economic growth is observed in cryptocurrency markets, with Ethereum, Solana, and Dogecoin, following Bitcoin's record-breaking ascent, reaching new heights themselves.
- Investors are embracing risk-on assets, including cryptocurrencies like Ethereum, Solana, and Dogecoin, due to a perceived easing of global trade tensions.
- Priced at $2,662, Ethereum has demonstrated a remarkable 56% month-to-date gain, exceeding even Bitcoin's daily growth.
- Solana, standing at $179, has experienced a 24% increase over the past month, as it exhibits potential for reaching new highs.
- The Dapp-based token, HYPE, from the decentralized exchange Hyperliquid, has climbed 23%, landing it among the top day's gainers in the top 100 coins by market cap.
- Cryptocurrency technology continues to thrive, with projects like Worldcoin showcasing strong performances, such as a 36% growth due to a substantial token sale.
