Ethereum, XRP, Solana, Dogecoin join crypto rally as Bitcoin scales record highs
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Ethereum has surged 12.03% in the past week alone. | Credits: Getty Images
Ethereum, XRP, Solana, Dogecoin join crypto rally as Bitcoin scales record highs
Bitcoin's historic surge to $125,689 has sparked a bullish wave across the cryptocurrency market, with Ethereum, XRP, BNB, Solana, and Dogecoin experiencing significant gains. Ethereum's rise is driven by strong ETF demand, while XRP benefits from privacy enhancements. BNB's growth is linked to market dynamics and governance roles, and Solana's upgrades boost its appeal. Dogecoin's rally is fueled by ETF speculations.
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The cryptocurrency market is riding a bullish wave as Bitcoin hits a historic high. Ethereum, XRP, BNB, Solana, and Dogecoin are all experiencing growth.
Ethereum has surged 12.03% in the past week alone. | Credits: Getty Images
As Bitcoin (BTC) continues its historic surge, other digital currencies are also seeing a bullish momentum, with the overall market cap hitting $4.29 trillion. While BTC dominates the overall crypto market, Ethereum and other key blockchains and coins have also seen the rally in October, termed the "Uptober wave". As Bitcoin (BTC) zoomed past another historic all-time high at $125,689, here’s a look at other digital currencies riding the bullish wave alongside the king coin.
Ethereum
Ethereum has surged 12.03% in the past week alone, with its market cap hitting $564.25 billion.
Currently, the blockchain is trading at $4,690.05, rising 3.26% in the past 24 hours, as per the CoinMarketCap data. The Ethereum rally is also attributed to strong spot ETH ETFs (exchange-traded fund) demand, which saw $1.3 billion inflows in the past week.
XRP
XRP is hovering around $3.2, with its m-cap hitting $181 billion. Experts see a clean push toward $3.22–3.30, with the latest announcement of Ripple integrating zero-knowledge proofs by 2026, which will increase privacy for secure institutional transactions and thus enhance confidentiality on the blockchain. The digital asset has seen 5% surge in the past week, with its one-year surge hitting 467%.
BNB
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The native coin of the BNB Chain ecosystem has seen 5% rise to $1,222.19 in its value in the past 24 hours, with its m-cap hitting $169.5 billion.
Its seven-day rally stands at 20%, propelled by a combination of market short squeeze, anticipation around an ETF launch, and a surge in developer activity, according to CoinMarketCap.
BNB serves as a governance token, granting holders the ability to participate in the BNB Chain’s decentralised on-chain governance. It also functions as a strategic reserve asset and plays a critical role in the BNB Executive Total Value Locked (TVL) campaign.
Solana
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The blockchain is rallying at 2.61% currently, hovering at $235 mark, with its m-cap at $128.71 billion. Its 7-day surge stands at $12%.
The current rally is being attributed to Solana’s alpha glow upgrade, which has enhanced its speed, reducing costs and increasing reliability by streamlining validator processes and increasing block capacity. Crypto index fund manager company Bitwise CIO Matt Hougan has also backed Solana, saying it is set to become Wall Street's favourite blockchain for stablecoins and tokenisation.
Dogecoin
Dogecoin is trading up 4.27% in the past 24 hours, hitting the $0.2672 mark. The meme-coin has seen around 15% surge in the past week alone, with its m-cap hitting $40 billion.
Experts say the SEC’s decision on a DOGE ETF, in addition to the ‘Uptober’ rally in the overall crypto market, could fuel a further rally in the popular "Doge" Internet meme.