The cryptocurrency industry was surprised with the silent rise of its top coin in the market, Bitcoin, after its historic rise to near its all-time high (ATH) after struggling for quite some time, being the highlight story of this week's CryptoWatch. Moreover, there is also the importance of crypto highways in the industry, and it serves as the entry and exit of the decentralized finance space.
Lastly, update yourself on the latest prices within the top coins in the market, seeing the new changes in their prices and rankings after a week, and tracking their movement after a seven-day period.
Bitcoin Almost Reaches A New All-Time High Record
Bitcoin made a surprising leap towards its previous all-time high record as after almost eight months since it skirted the $73,000 threshold, the top coin in the market rose again to this valuation. However, the top coin fell short of beating its past valuation record to achieve a new ATH this year, as the coin saw a massive rally that was led by investors and fans after facing significant challenges.
The top coin reached $73,562 as seen on its charts and tracking, and it was only $175 shy of its previous record of $73,737 which it achieved last March, with it being the highlight of the market last week.
Its meteoric rise saw a 7.52 percent jump over the past week when BTC rallied last Tuesday, but it fell to around $71,000 after it recorded a valuation close to its ATH. It was revealed that many factors helped in making this possible, particularly as the US elections are nearing and some candidates have expressed their support for the industry, with Donald J. Trump going above and beyond with his backing of Bitcoin.
What is the Crypto Highway and Its Importance?
The crypto highway is one of the most important aspects of the industry now, particularly as it acts as the way to connect traditional finance to the decentralized finance (DeFi) that makes it possible to buy coins in the market. There are two renowned subcategories of the crypto highway, and they are referred to as the on-ramp and off-ramp, detailing the entry point and way out in the industry.
The ramp system in the crypto world makes it possible to trade the likes of legal tenders like Dollars, Euros, Pounds, and more to the likes of Bitcoin, Ethereum, and more, offering this to individuals or companies.
It is known that the on-ramps offer a way for investors to join the crypto market by investing their real-world money in a digital equivalent of their liking. On the other hand, off-ramps offer them a chance to take their coins back to the real world of traditional fiat currencies.
Top Coins in the Market and Its Changes
The top coins in the market has seen a flat performance after a big week for Bitcoin where it stood near its previous all-time high. And while that is the case, it did not suffer from a massive decline as most maintained their pricing.
Dogecoin still maintains its rising value after last week's massive climb, with CoinMarketCap's Fear & Greed index remaining at a 53 score which means neutral.
- Bitcoin (BTC) - Price: $68,773.34 | 0.19 percent increase over the past seven days
- Ethereum (ETH) - Price: $2,469.97 | 2.27 percent decrease over the past seven days
- Tether (USDT) - Price: $0.9992 | 0.05 percent increase over the past seven days
- Binance Coin (BNB) - Price: $560.86 | 5.55 percent decrease over the past seven days
- Solana (SOL) - Price: $164.04 | 7.52 percent increase over the past seven days
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