The crypto market has continued with its upward momentum helping bitcoin surpass the $23,000 mark Saturday at 12.40 pm UTC, according to coingecko.com. The legacy coin gained 9.5% in 24 hours, after gaining 12% in 24 hours on Friday.
The overall gain for BTC in 7 days has been 16.2%. The latest price position for bitcoin is the highest since mid-September. Bitcoin’s dominance over altcoins grew to 42% and its market cap is $440 billion.
While major altcoins, too, gained, SOL, OKB, and APT stood out for massive double-digit price surges. SOL’s price increased by 18.4% in the past 24 hours and 38.8% in 7 days. Aptos network’s native coin APT gained a massive 53.2% in 24 hours and 86.6% in 7 days. OKB gained 16.3% in the last 24 hours and 18.2% in 7 days.
The latest rally shot up the crypto market cap above $1 trillion.
Ethereum which is trading at the $1657 level gained 6% in the last 24 hours and 14.1% in 7 days. BNB crossed the $300 mark with a 5% increase in the last 24 hours and 3.3% in 7 days.
The strong rally in crypto prices witnessed in 2023 so far hints that the market has overcome the fallout of Luna and FTX collapses and it’s now bracing for some fresh momentum. Market experts believe the overall improvement in the global economy and geopolitical tensions diminishing on key fronts have helped the market regain confidence.
