Cryptocurrency market starts Thursday with a bang, ETH leads the charge with 19.57% surge

The cryptocurrency market kicked off Thursday on a strong note, with major assets flashing green and the global market capitalization climbing to $3.21 trillion

The cryptocurrency market kicked off Thursday on a strong note, with major assets flashing green and the global market capitalization climbing to $3.21 trillion, marking a 5.67% increase in the past 24 hours.

Among the major cryptocurrencies, Ethereum (ETH) took the spotlight as the top gainer, surging 19.57% to $2,203.86. Close behind was Bitcoin (BTC), which also edged higher by 3.90% to trade at $102,610.09.

With the Fear & Greed Index currently at 70, it indicates strong market greed as investors are quickly piling back into the cryptocurrency market. However, the Altcoin Season Index stands at 36/100, suggesting that despite recent gains, Bitcoin still holds the majority of the market momentum.

In other developments, XRP saw its price increase by 6.43% to $2.30. Solana also had a good day, jumping by 8.21% to reach $162.41. Meme-favorite Dogecoin joined the rally with a 10.51% surge, bringing its price to $0.1952. Cardano impressed traders as well, with its price moving up by 11.81% to $0.7716.

Meanwhile, BNB showed a quieter but steady performance, increasing by 2.97% to $624.31. Stablecoins like Tether and USDC stayed close to their usual $1 mark, holding steady at $0.9999 each.

The rally continues deeper into the crypto market rankings. As the market capitalization dipped below the $3 trillion threshold on Wednesday, traders saw a reversal with several major cryptocurrencies surging double-digit percentages.

Looking at the crypto market in detail, we can see that Sui saw an impressive 12.34% jump over the past 24 hours, now trading at $3.96 despite a slight 1.09% dip in the last hour. Chainlink also climbed higher, gaining 11.18% to trade at $15.83, keeping its momentum steady over the week.

Avalanche joined the list of gainers, rising by 11.16% in the last day to reach $22.24. Stellar wasn’t far behind, posting a 10.58% increase to settle at $0.2936. Meme-favorite Shiba Inu recorded a 9.90% rally, now valued at $0.00001430.

Bitcoin Cash delivered a solid performance too, climbing by 4.88% to $420.26, while Hedera added 8.52% to its price, now trading at $0.1944. Finally, UNUS SED LEO remained relatively stable, edging up by 0.67% to $8.86.