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Crypto Market Uptober: Bitcoin Leads the Way as Altcoins Follow

Crypto Market Uptober: Bitcoin Leads the Way as Altcoins Follow

The crypto market has seen a surge of activity in the past few days during “uptober”, as Bitcoin broke above $27,000 for the first time in Q4 2023. The leading cryptocurrency dragged the rest of the market along with it, as various altcoins posted impressive gains.

According to data from CoinMarketCap, Bitcoin reached a high of $27,440 on October 10, 2023, at the time of writing. The dominant coin has increased by 8.7% in the past seven days and 4.2% in the past 24 hours. Bitcoin’s market cap stands at $506 billion, accounting for 46.5% of the total crypto market.

Uptober May Still be Happening This Year

While Bitcoin has led the way, some altcoins have also performed well in the past week. Solana (SOL), the fifth-largest cryptocurrency by market cap, has gained 16.4% in the past seven days and 6.2% in the past 24 hours. SOL is trading at $22.19, with a market cap of $9.2B.

Crypto Market Uptober: Bitcoin Leads the Way as Altcoins Follow

Dogecoin (DOGE), the meme-inspired coin with a loyal fan base, has also seen a revival in its price action. DOGE has increased by 12.8% in the past week and 5.1% in the past day. The coin is trading at $0.05876, with a market cap of $8.32B.

Among the top gainers on CoinMarketCap in the past 24 hours are Tezos (XTZ), Cosmos (ATOM), Stacks (STX), Klaytn (KLAY), and OKB. These coins have gained between 0.9% and 6.1%, outperforming most of the market.

Tezos is a smart contract platform that aims to offer a more advanced infrastructure than Ethereum. Cosmos is a network of interoperable blockchains that claims to solve the problems of speed, cost, scalability, and energy efficiency. Stacks is a layer 2 protocol on Bitcoin that enables smart contracts and decentralized applications. 

Klaytn is a blockchain project focused on the metaverse, gamefi, and the creator economy. OKB is a utility token of the OKEx crypto exchange that offers various benefits to its users.

The crypto market is showing signs of strength and optimism, as Bitcoin leads the way and altcoins follow. The total market cap of all cryptocurrencies is currently $1.06 trillion, up by 5.6% in the past week.

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