(03 June 2024, 11:05 AM IST):
As the new week kicks off, the cryptocurrency market is showing a slight upward trend. Various tokens, particularly those related to gaming and real-world assets, are experiencing bullish momentum. Bitcoin (BTC), the market leader, remains steady at the $68,000 level, fluctuating but holding firm.
Bitcoin’s Steady Performance
Bitcoin (BTC) is currently trading at $68,556, marking a 1.18% increase in the last 24 hours. With a market capitalization of $1.35 trillion, Bitcoin is consolidating around this level, awaiting a breakout from the symmetrical triangle pattern. The recent approval of the Ethereum spot ETF has caused Bitcoin to struggle to surpass the $71,000 mark despite the bullish sentiment.
Ethereum’s Modest Gain
Ethereum (ETH) also saw a modest rise, trading at $3,819, up by 0.25% in the past 24 hours. Ethereum’s market cap stands at $459 billion, reflecting its solid position in the market.
Top Gainers: Notcoin, Toncoin, and Gala
While Bitcoin remains steady, other cryptocurrencies like Notcoin, Toncoin, and Gala are making impressive gains.
- Notcoin (NOT): The new gaming token Notcoin has continued its rally, jumping by 10.16% over the last 24 hours to reach $0.2067. Its market cap is now at $2.20 billion. Over the past week, Notcoin has surged by an astonishing 289%. However, some profit-taking and sell-offs may occur soon after such a strong rally.
- Toncoin (TON): Toncoin, a prominent layer-1 token, has gained significant attention with a 7.00% price increase to $6.77. Toncoin’s market cap currently stands at $16.40 billion. Over the past week, Toncoin has seen a steady increase of 6.78%.
- Gala (GALA): The gaming token Gala has also seen substantial gains, rising by 6.15% over the last 24 hours to reach $0.04708. Its market cap is now $1.49 billion. In the past week, Gala has increased by 7.37%.
The overall cryptocurrency market appears slightly greenish as various narrative-driven tokens show bullish trends. Bitcoin’s steady position and the significant gains in tokens like Notcoin, Toncoin, and Gala suggest a positive sentiment among investors as the week progresses.