Bitcoin has surged again in the past 24 hours, reaching $31,000, which is the first time since June 2022. Meanwhile, ETH has hit an 11-month high of over $2,100 after the highly anticipated Shapella upgrade.
Bitcoin Reaches $31K
Bitcoin remained stagnant over the weekend and started the week at around $28,000. However, towards the end of Monday, the cryptocurrency surged to $29,000 and then skyrocketed beyond $30,000 for the first time in ten months. Following lower CPI numbers for March, BTC rose again by $500.
Despite losing all gains hours later and returning to around $30,000, the bulls took control in the past 24 hours, pushing the digital asset over $31,000, marking another ten-month peak.
Although its market capitalization is nearing $600 billion, BTC’s dominance over the altcoins has declined to 46.4%, mostly due to ETH’s gains.
ETH at $2.1K
Despite some speculation that the Shapella upgrade could send ETH south due to the large amounts of unlocked tokens, the asset has gone on a tear since its completion. ETH is up by over $200 in two days and reached an 11-month high above $2,100.
Dogecoin and Cardano are also major gainers among larger-cap altcoins. DOGE is up by 7%, and ADA’s daily increase has exceeded $0.4.
Other significant gains come from Uniswap, Chainlink, ATOM, APT, LDO, and ARB, which has exploded by over 20%.
The overall crypto market cap has added just over $40 billion in a day and is now almost $1.3 trillion on CMC.
