Altcoins Drive the Rally as Bitcoin Plays Catch-up

The crypto market capitalisation has risen to $2.8T, its highest level since the end of January this year. Although Friday’s rally was followed by increased selling pressure, buyers have once again been dominating the cryptocurrency market since Sunday. As a result, by the start of active trading in Europe, market capitalisation was 6% higher than a week ago.

Altcoins are once again the main driving force, following legislative initiatives by the SEC and CFTC. Their rise above May’s highs is a strong bullish signal of an uptrend. Over the past 24 hours, the top performers were NEAR Protocol (+24.4%), Avalanche (+14.5%) and The Graph (+10%), while the worst performers in our sample were Uniswap (-0.3%), Dash (+0.6%) and IOTA (+0.7%).