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Bitcoin, Ethereum rise 20% in one week

"Bitcoin and Ethereum Soar 20% in One Week: Market Cap Reaches $1 Trillion for the First Time Since November"

The total market value of Bitcoin and Ethereum has risen by 20% over the past week, bringing the combined value of all assets to over $1 trillion, a level not seen since November of last year. According to CoinGecko, the current market cap is $1.01 trillion, with a total value of $1.15 trillion as of Sunday evening. The uptrend is led by Bitcoin, which reached a two-month high of $21,446 on Sunday before dropping to $20,873 during the day. It has a 0.5% higher market value in the last 24 hours and a 22.3% increase for the week. Ethereum, the second-largest cryptocurrency by market cap, posted a 20.7% gain for the week and is currently trading at $1,548. Other coins such as Avalanche, NEAR, Aave, and Polkadot have also seen increases, with Solana experiencing the most dramatic increase of 64%. With a market cap of $400 million, Bitcoin dominates 40% of the market, followed by Ethereum with 18.3%. The rise in Bitcoin’s price is believed to be in anticipation of a decline in inflation as reported by the US Federal Reserve’s Consumer Price Index. Additionally, Bitcoin mining power increased by 10% to a new record of 37.59T.

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