Following a resurgence in cryptocurrency prices, three coins within the top 100 have seen price hikes of 15% or more.
Data from CoinMarketCap indicates that the overall crypto market cap has risen by approximately 2.4%. Currently valued at $2.33 trillion, over $55.9 billion has poured into native blockchain assets in the last 24 hours.
Bitcoin (BTC) experienced a nearly 3% increase, marking one of the largest gains among the top 10 virtual currencies, following Solana’s (SOL) 7% rise. However, both of these were overshadowed by Toncoin (TON), the cryptocurrency associated with The Open Network endorsed by Telegram.
TON’s upward trend led to a 17% surge in price, pushing the token above $7 at the time of reporting. Furthermore, Toncoin has once again surpassed the well-known memecoin Dogecoin (DOGE) in market capitalization and reclaimed the eighth spot among the leading cryptocurrencies.
In addition, the Telegram-linked token has been closing in on Ripple’s XRP. While XRP’s market value remains higher by almost 20%, TON has been gaining momentum in the past week, seeing a 27% increase while XRP has declined by over 2% in the same period.
The decentralized storage token Arweave (AR) has also benefited from the market fluctuations, narrowing the gap with competitors like Filecoin (FIL) and Internet Computer (ICP). AR saw a daily growth of over 16%, reaching a trading price of over $44 per coin.
The biggest gainer of the day was Akash Network (AKT), a decentralized cloud platform that allows users to rent and sell computing resources, with a substantial 27% price surge.
Overall, the cryptocurrency market has shown signs of recovery with several coins experiencing significant price increases, highlighting the dynamic nature of the digital asset space.