Crypto Market Shows Signs of Recovery as Bitcoin Leads the Charge

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The cryptocurrency market is showing signs of recovery after a drop to the $65,000 levels following Bitcoin‘s (BTC) all-time high of $73,836. Bitcoin is leading the recovery by climbing back above the $69,000 mark. Ethereum (ETH) has once again surpassed the $3,600 level, bringing profits to investors, while significant gains are also seen in other top-tier altcoins like XRP, Cardano (ADA), and Solana (SOL). The decline in major memecoins, however, continues.

Current State of the Crypto Market

According to CoinMarketCap, Bitcoin has risen above the $69,000 threshold with a 2.36% increase in the last 24 hours at the time this article was written, while its trading volume decreased by 7.45% to $64.88 billion. The total market value of the crypto king is at $1.35 trillion.

The largest altcoin ETH has risen 1.41% to $3,724 in the last 24 hours, reaching a market value of $447.32 billion. Despite this positivity, ETH’s trading volume has fallen by 9.66% to $27.38 billion in the last 24 hours.

Binance Coin (BNB) has seen a 6.05% increase to $616.53 in the last 24 hours, and its trading volume has risen by 15.43% to $5.61 billion. One of the most popular altcoins of recent days, SOL, continues its rise, reaching $188 with a 5.79% increase in the last 24 hours, and its trading volume has increased by 9.18% to $11.91 billion. XRP is trading just below $0.64, recording a 0.03% gain, while its trading volume has decreased by 27.98% to $2.92 billion. ADA has reached $0.7247 with a 1.12% increase in the last 24 hours, and its trading volume has fallen by 39.47% to $1.11 billion.

The native asset of Jupiter, a Solana-based decentralized exchange (DEX) collector, JUP has seen an impressive 40% rise to $1.38 in the last 24 hours. Its trading volume has increased by 85.45% to $1.28 billion, reaching new highs amidst the rally.

Major Memecoins on the Decline

Meanwhile, major memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) continue to show a downward trend, increasing their losses. DOGE has fallen 3.61% to $0.1588, and SHIB has decreased by 4.50% to $0.00002862 in the same period.

The popular memecoin Pepe (PEPE) has also seen a significant drop of over 9% in the last 24 hours, falling to $0.000008296 with a market value of $3.48 billion. The trading volume of the memecoin has also decreased by 44.21% to $1.47 billion.

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