4 hours ago
8
Cryptocurrencies are largely in a buzz today, with crypto investor excitement building up after Bitcoin (BTC) soared to a record-breaking high above $118,000 on Friday.
The gains fueled optimism for a prolonged market rally, with top altcoins such as Ethereum and XRP breaking to key levels.
Sei and Stellar are also some of the coins to surge as the upward momentum pushed the global crypto market capitalization up to $3.67 trillion.
Meanwhile, global daily volume spiked 80% to over $267 billion.
However, as small-cap altcoins like Omni Network exploded to outpace other outperformers, the total crypto liquidations piled to over $1.33 billion.
Notably, according to Coinglass, a huge chunk of the liquidations, over $1.1 billion, were shorts caught offside as a BTC-driven rally sent altcoins up.
Bitcoin eyes $120k
Bitcoin (BTC) has scaled new heights, touching $118,900 on Friday, propelled by robust demand from institutional and corporate investors.
Spot Bitcoin ETFs saw inflows of $1.69 billion through Thursday, reflecting heightened market confidence.
With a market capitalization surpassing $2.3 trillion, analysts anticipate that BTC could approach $120,000 soon.
It’s a scenario driven by sustained buying interest and favorable macroeconomic conditions. BTC price hovered around $117,600 at the time of writing.
Ethereum targets breakout above $3,000
Ethereum (ETH) has surpassed the pivotal $3k threshold, reaching $3,038 on Friday.
The uptick reinforces a solid uptrend that could see bulls eye a breakout to $4k and the all-time high of $4.8k. ‘
Growing adoption in decentralized applications and steady institutional backing bolster ETH’s outlook. One of the institutions betting big on ETH is SharpLink Gaming.
XRP pierces key resistance level
Ripple’s XRP surged to $2.8 on Friday, rising by more than 12% in the past 24 hours as bulls overpowered bears.
XRP’s trading volume spiked by 184%, with $14.6 billion in XRP exchanged in 24 hours. Open interest was also up as buyers target the $3 level.
Speculation around ETFs and stablecoin adoption is one of the catalysts for XRP.
Sei soars 22% amid USDC and CCTP integration
Sei (SEI) has rallied 22% in the past 24 hours and reached highs of $0.35, with weekly gains extending to over 30%.
The surge follows Circle’s Thursday announcement of integrating its USDC stablecoin and Cross-Chain Transfer Protocol (CCTP) V2 into Sei’s ecosystem, enhancing its appeal for DeFi applications.
Record-breaking open interest (OI) and total value locked (TVL) underscore growing investor enthusiasm, suggesting further upside potential.
Stellar price tests $0.40 level
Stellar (XLM) is advancing steadily, up 22% in the past 24 hours as bulls retest the $0.40 area.
XLM price has gained by more than 54% this past week. Rising on-chain activity, including peak TVL and increased stablecoin transactions, supports its bullish trajectory.
Technical indicators hint at a possible push toward $1 in this bull cycle. However, XLM faces a robust supply wall around $0.50-$0.56 area.
Top crypto gainers today
As Bitcoin looks to break to $120k, ETH, XRP, and SOL will be among the coins to watch. However, also on the radar are other standout performers include Omni Network, 1inch, and Story. These tokens have exploded in the last day and could gain traction.
However, profit-taking risk remains, and prices may drop to key support levels.
The post Crypto wrap: Bitcoin eyes $120k, buoys ETH, XRP, Sei and XLM appeared first on Invezz
English (US) ·