The crypto market cap surpassed $2.650 trillion for the second time in a row as BTC, SOL, ETH,BNB, and other altcoins surged in a single day
The six-month wait is over, with bitcoin breaking the previous all-time high and setting a new one at $67,000 yesterday. While the asset has lost some ground since then, a number of altcoins, including ETH and SOL, have begun to show impressive gains.
Bitcoin's all-time high is $67,000.
As reports intensified last week claiming that the US Securities and Exchange Commission will finally allow a Bitcoin ETF in the country, the question of whether or not the asset would break its April all-time high became a matter of when, not if.
BTC surpassed $60,000 for the first time in six months following news that ProShares' ETF will launch on October 19th, and remained above that level for the majority of the weekend.
As the exchange-traded fund began trading on Tuesday, bitcoin surged once more, coming within $500 of its all-time high. But that all changed yesterday, when the cryptocurrency soared well above $65,000.
It actually reached a high of $67,000 in the following hours, setting a new record. Despite a more than $1,000 retracement since then, its market capitalization remains well above $1.2 trillion.
Green Takes the Lead in Altcoins
The alternative coins had failed to follow their leader north for several days, but the situation has changed dramatically. Following an 8 percent increase, Ethereum is one of the most significant gainers. As a result, the second-largest cryptocurrency has finally surpassed $4,000 and now trades just below $4,200.
Binance Coin, Ripple, and Dogecoin have made more modest gains, while Cardano, Polkadot, Terra, Litecoin, Uniswap, and Avalanche have risen by 6 to 10%.
Nonetheless, Solana has risen the most among the top ten coins. SOL has risen nearly 20% in a single day and is now close to $190.
Nexo (20%), Flow (15%), THORChain (15%), Enjin Coin (14%), The Graph (13%), Ren (12%), and Qtum (12%) all make significant gains (12 percent )
The crypto market cap has now surpassed its previous all-time high of $2.650 trillion. In just one week, the metric has risen by $400 billion.