The global crypto market cap has climbed to $2.47 trillion, with an uptick of 0.99% when articulating this piece. The FGI has jumped to 64 points for greedy sentiments. What comes as a rock-solid performance is Bitcoin ($BTC) finding its way to the top once again. It is hovering around $67,000, and speculation is that it could soon breach the mark of $70,000. Meme coins are seeing some of the most obvious performances from the top two tokens, and Ethereum, from a general sector, has held its ground steady ahead of ETF approval.
Bitcoin and Ethereum move forward
BTC is listed at $67,885.04, which is up by 1.18% in the last 24 hours at press time. The growth is backed by a rise of 8.61% in the last 7 days. Analysts had predicted that the market would be able to absorb the pressure injected by the German Government and Mt. Gox. By the looks of it, the market has indeed absorbed the pressure. Alternatively, it could be a natural upswing after a bottom-line performance.
ETH is gearing up for its Spot ETF trading. It could go live on July 23, 2024, assuming the US Securities & Exchange Commission gives its final nod of approval to Ethereum’s investment mechanism. The token, for now, is exchanging hands at $3,518.00, a surge of 0.25% in the last 24 hours. It has underperformed in comparison to Bitcoin, which grew 5.55% in the previous seven days.
Meme Coins see Dogecoin put up a better performance
The global market cap of the meme coin segment is up by 3.87%, displaying a figure of $54.43 billion. Dogecoin ($DOGE) is up by 7.31%, while SHIB has soared only by 0.46% in a single day. The difference between their market cap has broadened. DOGE is above $20 billion, and SHIB is struggling to surpass $11 billion, which is currently valued at around $10.67 billion.
Also, weekly performance is way better for DOGE than for SHIB. The former is up by 19.93%, and the latter has seen a growth of 0.38%. Their token values are $0.141 and $0.00001803, applicable in the same order.
WIF is coming close to competing with the 8th-ranked cryptocurrency worldwide. It has gone up by 8.03% in the last 24 hours and 58.14% in a week. This is even above PEPE, which is up by 29.30% in the last 7 days. Dogwifhat is listed at $2.78 at the press time.
Other Gainers and Losers
XRP and BNB have gained less than they were expected to fetch in a 24-hour window. They are up by 0.89% and 1.06% right now, listed at $0.5955 and $600.95, respectively. FLOKI has held a lower flag, growing just 2.57% in 24 hours despite attracting a return of 33.80% in a week.
Conclusion
Bitcoin is likely to ensure that a near-term Bitcoin projection of $85,000 happens by the end of this month or next month. Ethereum will take some inspiration from its Spot ETF.
Disclaimer: The article is meant to serve as a piece for reference only, not as investment advice or recommendation.