Crypto Assets Mid-Week: Can Bulls Ignite Uptick?
Crypto assets have recorded slight growth in the last 24 hours as bulls eye an upward movement after the Bitcoin halving. On-chain data shows renewed institutional activity in decentralized finance (DeFi) and related sectors.
Although the market continues trading sideways, Bitcoin, altcoins, and memecoins have ticked inflows today. The total market cap at $2.5 trillion, a 0.6% increase in the last 24 hours. Memecoins have posted higher gains of 5% in the same time frame with more inflows to Solana-based crypto assets.
Crypto Assets Positive Outlook
Market leader Bitcoin is up 0.21% today trading at $66,398. This slight gain adds to the halving momentum it garnered two days ago as coins wiped off previous losses. Bitcoin’s weekly gains are at 5% after record liquidations last week.
The price of asset trails is $73,000 at a time high but bulls remain positive about increased macroeconomic factors. Ethereum (ETH) is up 2.65% in the last 24 hours and 6.71% this week. While recording more gains than Bitcoin, the asset still shows 3.3% monthly exits.
The crypto assets bulls seek to capitalize on increased DeFi protocol activity as institutional investors set sights on its staking feature. Potential spot Ethereum ETFs is a rallying point for most within the community. Solana (SOL) has recorded 1.5% gains in the last 24 hours and 15.24% this week.
The community dubbed institutional favorite asset continues to outpace most crypto assets on weekly gains due to on-chain activities and a memecoin frenzy. Solana memecoins are up 18% today, above other meme tokens after the Bitcoin halving.
Memecoins Drives North
Memecoins continue to rally on the back of inflows in crypto assets. Dogecoin is up 1.4% today and 3% this week while Shiba Inu has surged a slight 1% today and 22% this week. Solana memecoin dogwifhat ticked 3% as crypto assets within the ecosystem goes uphill.
Memecoin dub duck tops highest gainers with a 399% rise. Similarly, pepcat and Linda recorded 111.8 and 126% gains respectively.
Also Read: 3 Memecoins That Can Make You A Millionaire
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