Bitcoin and many altcoins saw a tremendous rise in prices in the last few days, with $120 billion entering the market in just 24 hours. Solana, Polkadot, Avalanche, Dogecoin, Shiba Inu, and many other tokens and coins also saw impressive daily gains.
Last Weekend Was Relatively Slow
After Bitcoin breached $40,000 on March 16, it only grew further. Eventually, it reached $45,000 a few days ago and stayed in this range for the weekend. However, on Monday, the Bitcoin price hit 47,800, becoming the highest price since January 2.
This price increase also led to $400 million worth of liquidations. Bitcoin has slightly pulled back to trade at around $47,000, and its market capitalization is close to $900 billion.
Most altcoins are following Bitcoin and are also in the green. Ethereum is above the $3,300 level for the first time in months, and Binance Coin saw a 3% increase, hitting the price of $430.
Solana, Polkadot, Avalanche, Dogecoin, Shiba Inu, CRO, and a few other tokens saw 6% to 8% gains as well.
The total cryptocurrency market sits at about $2.1 trillion.