Cryptocurrency investors profited handsomely last week as altcoins followed Bitcoin’s record highs.
What happened: Bitcoin, the world's largest digital asset by capitalization, began a gravity-defying bull run that propelled it beyond $122,000.
But while Bitcoin set the tone, its returns were eclipsed by other cryptocurrencies.
Ethereum, the second-largest coin, surged 17% in the last week, regaining $3,000 after a gap of more than five months. Its market dominance increased to 9.6%, while Bitcoin's share remained below 64%.
Interestingly, mid-cap coins like Cardano, Polkadot and Avalanche, once deemed as "Ethereum Killers," outgained Ethereum, surging 29.50%, 21.80% and 20%, respectively.
| Stocks | Overnight Gains +/- | Price (Recorded at 3:30 a.m. ET) |
| Cardano (CRYPTO: ADA) | +29.50% | $0.7569 |
| Polkadot (CRYPTO: DOT) | +21.80% | $4.13 |
| Avalanche (CRYPTO: AVAX) | +20.00% | $21.81 |
| Ethereum (CRYPTO: ETH) | +17.84% | $3,029.18 |
| Bitcoin (CRYPTO: BTC) | +12.17% | $122,103 |
Meme heavyweights like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) jumped 20.45% and 17.88% respectively. The total cryptocurrency market capitalization rose nearly 14% to $3.83 trillion in the last week.
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