In the wider top 10 cryptocurrencies by market capitalization, Toncoin emerged as the leading gainer, registering a surge of over 31% following its collaboration with Telegram last week. Meanwhile, despite experiencing short-term fluctuations, Bitcoin is projected by market analysts to rebound and surpass the support level of $30,000 by October, according to crypto experts.
Bitcoin and Ether Continue Their Uptrend Recovery
Toncoin experienced the most significant growth of the day, with a 4.36% increase in the last 24 hours in Hong Kong, reaching $2.54. The cryptocurrency saw a weekly rise of 31.34%, largely attributed to the momentum gained from the recent partnership announcement with Telegram.
Bitcoin, the world’s premier cryptocurrency, saw an increase of 1.75% over the past 24 hours, reaching a value of $27,214.15 in Hong Kong. This marks a weekly growth of 5.11%, as per data from CoinMarketCap. An early Wednesday rally propelled Bitcoin to a peak of $27,488.76, its highest since August 31, before it experienced a slight pullback.
Laser Digital, a subsidiary of Nomura Holdings in Japan specializing in digital assets, unveiled its Bitcoin Adoption Fund on Tuesday. The fund is designed to facilitate institutional investors’ entry into the digital asset sector.
Nomura, Japan’s leading investment bank with approximately $500 billion in managed assets, has introduced this Bitcoin-centric fund as the inaugural offering in a series of digital adoption investment solutions that Laser Digital Asset Management plans to roll out.
In the last 24 hours, all top 10 cryptocurrencies, excluding stablecoins, have recorded increases. Ether, ranking second in the world of cryptocurrencies, experienced a slight dip of 0.27%, trading at $1,635. This minor setback still resulted in a weekly increase of 2.69%.
CoinMarketCap data reveals that the total market capitalization of cryptocurrencies rose by 0.6% to $1.07 trillion in the past 24 hours. However, the market volume saw a decrease of 3.2%, settling at $28.73 billion.
