Crypto Markets Surge: Bitcoin, Ethereum and Dogecoin Experience Major Gains

Market Overview

The world of cryptocurrency is buzzing today, with a stunning 97 out of the top 100 digital currencies glowing green like they just won the lottery. Data from Coin360 reveals that the crypto market capitalization has soared past the $238 billion threshold, the highest since early August.

Bitcoin’s Steady Ascent

Bitcoin, the big fish in the sea of cryptocurrencies, has successfully broken the $7,000 barrier once again, and it looks like it’s not just a fluke! Trading at around $7,216, it’s up 2.52 percent in the last 24 hours, not too shabby for the king of crypto. This week alone, Bitcoin has gained 7.2 percent, thanks in no small part to a decline in bearish futures positions reported by the U.S. Commodity Futures Trading Commission.

Bitcoin’s Journey

• Current price: $7,216
• 24-hour gain: 2.52%
• Weekly gain: 7.2%

Ethereum: On the Verge of $300

Hot on Bitcoin’s heels is Ethereum, which is just shy of the $300 mark, currently trading at $299.66. With a 24-hour rise of almost 6 percent, it has also seen around 7 percent growth this week, despite suffering a 28.7 percent loss over the month. Talk about a rollercoaster of emotions!

Ethereum Stats

• Current price: $299.66
• 24-hour increase: 6%
• Monthly loss: 28.7%

Dogecoin: The Underdog Turns to Top Dog

In a plot twist that even soap operas would envy, Dogecoin has experienced an astounding 41 percent growth in the past 24 hours, climbing a staggering 135 percent since August 30. As of today, DOGE is trading at $0.0061, boasting a market cap of $708 million. How did this happen? Twitter commentators are buzzing about a new project called Dogethereum, designed to allow Dogecoin to prance into the Ethereum playground.

General Trends in the Crypto Market

Alongside the excitement of Bitcoin and Ethereum, Bitcoin Cash (BCH) and Litecoin (LTC) have been breaking their own records with increases of 14.7 percent and 8 percent respectively. The surge in the cryptocurrency market is also tied to upcoming developments like the planned launch of Ethereum futures by the Chicago Board Options Exchange, adding more fuel to the bullish fire.

Global Impacts

Adding to this whirlwind of activity, the Reserve Bank of India is exploring the feasibility of a digital currency, and Yahoo Finance has introduced buy/sell options for various cryptocurrencies via their iOS app. Who knew that the digital currency universe could pack so much action into one week? Buckle up, it’s going to be a bumpy ride!