Today's crypto market: BTC, ETH, XRP, SOL, ADA unexpectedly big pump

After a poor performance on July 5, the Crypto Assets market has rebounded today, but there are concerns that this rebound is just a flash in the pan. Major Crypto Assets like BTC, ETH, SOL, and ADA have all seen substantial rises, while memecoins have also achieved impressive gains.

Last Sunday's surge defines today's Crypto Assets market trend CoinMarketCap data shows that Crypto Assets prices have soared, with BTC, ETH, SOL, XRP, and ADA all experiencing significant rises. The sudden surge last weekend took traders by surprise, and experts referred to it as a typical "Sunday spike," characterized by low trading volume.

According to data from CoinMarketCap, Bitcoin is riding the wave of a "Sunday surge," currently reported at 108,960 USD. At present, Bitcoin is less than 3% away from setting a new all-time high, and investors are closely monitoring Bitcoin's purchasing strategy.

The largest altcoin by market capitalization, Ethereum, has firmly broken through the psychological barrier of $2,500, rising nearly 2% in the past day. XRP bulls are ecstatic about the asset's rebound, with the current trading price reaching $2.27. Additionally, SOL has risen nearly 3% in the past 24 hours, closing at $151.47. Dogecoin (DOGE) has the highest increase, ranking first among the top 10 Crypto Assets by market capitalization, up 5%.

Following closely is TON, which rose nearly 6%, while SHIB, PEPE, and UNI increased by 2.95%, 3.26%, and 6.77% respectively. As of the time of writing, the global Crypto Assets market capitalization reached $3.36 trillion, but the daily trading volume decreased by 5.39%, which is a clear sign of a "Sunday spike."

Why are Crypto Assets prices skyrocketing? There are several factors behind the soaring prices in the Crypto Assets market today, but the upcoming enterprise adoption rate to be launched on Monday is the driving force behind this trend. Following last week's acquisition of 8,400 BTC by the Bitcoin treasury, traders expect this buying frenzy to continue into the new week, with Michael Saylor suggesting that there may be buyers entering the market.

In addition, the recent weekend silence of Bitcoin whales has intensified market optimism. After on-chain data confirmed that whales were not preparing to sell their assets, enthusiasm in the cryptocurrency market shifted to bullish.

Cathie Woods pointed out that the silent movement of Bitcoin whales is likely a legal settlement or asset seizure. In addition, Drake's Bitcoin fame has also intensified the hype, but experts say the ripple effect of the "Big and Beautiful Act" will spread into the weekend.

(Source: CoinGape)