Bitcoin’s spectacular end to the business week, in which the asset gained over ten grand and skyrocketed to a new all-time high, has finally reached an exhaustion point as the asset has calmed at $118,000.
Several altcoins have followed suit, while XRP, CRO, and especially XLM have charted mindblowing gains.
BTC’s Rally
It’s been a while since we have said this, but a lot can change in the cryptocurrency markets in the span of a few days. Recall that itcoin’s price stood within a tight range between $105,000 and $110,000 for a few weeks, and each breakout attempt in both directions was stopped in its tracks.
However, that all came to an end on Wednesday evening when the asset finally broke out of the upper boundary and shot up to a new all-time high of $112,000. After a brief retracement, the cryptocurrency began an even more impressive rally that resulted in tapping $116,000 on Thursday evening, but BTC went all the way up to almost $119,000 on Friday morning.
Although it has lost some traction since then and now trades just under $118,000, bitcoin has gained over 9% on a weekly scale. Its market capitalization has grown to $2.345 trillion on CG, while its dominance over the alts has declined slightly to 62.5%.
XLM Steals the Show
Most altcoins posted mindblowing gains over the past few days as well, but have calmed since yesterday. Ethereum, for instance, went from $2,500 to over $3,000 to market a five-month peak before it corrected slightly to just under the latter.
In contrast, XRP was a little sluggish at first but took the spotlight yesterday by surging to almost $3. Although it has dropped below $2.8 now, it’s still 7% up on the day, and it overtook USDT in terms of market cap.
CRO has charted a similar price surge over the past day, taking it to well over $0.1. However, the day belongs to XLM, which has exploded by more than 22% and now trades above $0.37.
Pi Network’s native token, on the other hand, has plunged by over 6% and struggles to remain above $0.47.
The cumulative market cap of all crypto assets gained over $300 billion since Wednesday and stands at $3.750 trillion on CG now.
