Altcoins Rally as Bitcoin Reaches Two-Year High of $50K

• Bitcoin surges past $50K after two years, boosting investor confidence.
• Top Altcoins like Solana, Avalanche, and more surge alongside ETH & BTC.

Today signifies a significant milestone in the crypto year 2024 as Bitcoin reaches a two-year high of $50,375, while Ethereum surges past $2,500. The global crypto market cap stands at an impressive $1.87 trillion, marking a 4.32% increase over the last day. Additionally, the total crypto market volume over the last 24 hours has soared to $82.67 billion, marking an extraordinary 81.71% increase.

Currently, BTC is trading at $49,930.78 with a 4.37% surge and ETH is trading at $2,677.08 with a 9% surge in the past 24Hrs.

Following the lead of Bitcoin and Ethereum, other major altcoins have also experienced notable surges making the investors sit in the edge of their seats.

Solana (SOL)

Solana takes the lead with an impressive 8.71% surge in the past 24 hours, accompanied by a substantial increase in trading volume, which has surged by 89.53% during the same period, reaching $2 billion. SOL is currently trading at $114.41, demonstrating strong resilience with a 19% surge over the past seven days. The 9-day EMA of $104 remains significantly below the trading price, indicating a bullish trend.

Avalanche (AVAX)

Avalanche has reached its one-month high of $41.66, surging by 7% in the past twenty-four hours. Presently, AVAX is trading at $41.34, with trading volume reaching $832 million, marking a 55% surge. The market cap stands at $15 billion, reflecting a 7% increase. Daily chart analysis suggests that AVAX may continue its bullish momentum, potentially reaching $45.94 if it surpasses the $42 mark.

Polygon (MATIC)

Polygon, ranked 13th in market capitalization by CoinMarketCap, has surged by 5% in the past twenty-four hours, reaching $0.8841, a level not seen in almost a month. Currently trading at $0.8778, MATIC remains approximately 70% away from its all-time high. The 9-day EMA of $0.8437 remains distant from the trading price, indicating a bullish sentiment.

Toncoin (TON)

Toncoin has delivered a notable performance today with a surge of 6.40%. Currently trading at $2.21, Toncoin has also experienced a significant increase in trading volume, which has surged by 113%, reaching $58 million. Daily chart analysis suggests that TON may continue its bullish run, potentially reaching $2.29176 if it surpasses the $2.23102 mark.

This surge in major cryptocurrencies and altcoins underscores the current growing momentum and investor confidence in the crypto market, building anticipation for further growth in the days ahead.