Bitcoin price gained 23.3% against USD in the last week, topping $36,000 and rising by 30% last month. Ethereum was not lagging; it surged 38.9% last week and has increased by more than 47% in the last month. For comparison, the Nasdaq surged 3.5% last week, while the S&P 500 gained 1.7%.
But it's not just BTC and ETH that are performing well. Many digital assets are seeing explosive gains.
Solana is a scalable, high-speed blockchain that uses a proof-of-stake consensus mechanism. It has been gaining popularity in the crypto community due to its fast transaction speeds and low transaction fees. In the last week, SOL's price has increased by over 160%, making it one of the best-performing assets in the market. Its market cap has also surpassed $10 billion.
Memes have taken over the cryptocurrency world, with the rise of "joke" coins like Dogecoin, Shiba Inu, and Saitama Inu. These coins have gained significant attention from social media and the mainstream media, causing their prices to surge. Dogecoin, for example, has gained over 120% in the last week, while Shiba Inu has soared by more than 500% in the same period.
Binance Coin is the native token of the Binance exchange and has seen a 32% increase in the last week. BNB has also been on a bullish trend for the past month, increasing by over 70%. This can be attributed to the growing demand for Binance's services, such as staking, trading, and NFTs.
Polygon has been making headlines recently for its collaboration with gaming giant Atari and its increasing adoption in the DeFi space. In the last week, MATIC has surged by over 100% and has reached a market cap of $10 billion. Its low transaction fees and fast transaction speeds have attracted investors and traders.
Enjin is a blockchain platform that focuses on gaming and NFTs (non-fungible tokens). Its token, ENJ, has increased by over 100% in the last week, mainly driven by its partnership with Microsoft. The tech giant will be using Enjin's technology to create non-fungible tokens for its gaming platform and has also invested in the company.