Bitcoin has experienced a significant rally, breaking past the $35,000 mark and marking a 10.3% growth within 24 hours, according to data from CoinGecko. Ethereum followed closely with a 7.2% gain, reaching a value of $1,807.
Other cryptocurrencies such as BNB, XRP, and Solana also contributed to the market's robust performance this week. BNB stood at $227 while XRP surpassed the $0.55 level. Solana recorded an impressive 29.5% surge over the week.
CoinShares (ST:CS) reported that institutional crypto products from companies like Grayscale, 21shares, and Proshares have seen four weeks of uninterrupted growth by tracking cryptocurrency values. Last week's investments totaled $66 million, with Bitcoin dominating at 83.7%, which translates to $55.3 million.
Market liquidations were significant as per CoinGlass data, with $402.01 million liquidated in a single day. This affected a vast count of 94,693 traders with the largest single liquidation order being a $9.98 million transaction on the Binance BTCUSDT pair.
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