Market

Bitcoin price hits $61,000 as Ton, cat-themed memecoins add value

Bitcoin traded over the weekend at $61,000 as the primary asset reacted to activities of bulls in the market to push from a $60,000 price tag to just about $61,400.

The price action by Bitcoin marked a very quiet crypto market over the weekend with most Altcoins failing to gain any notable grounds. Besides Bitcoin and a few cat-themed meme coins, the general crypto market remained in a state of equilibrium.

Bitcoin Price holds at 61k 

Bitcoin price gained slightly from a previous position of $60,000 to about $61,400 at the time of writing this report. According to Coingecko, this represents a 0.7% price increase in the last 24 hours. The volume of change remains low but this is an expected volume for weekends.

Bitcoin despite its slow growth remains the dominant crypto asset with a market dominance of 50.8% over the rest of the market. Bitcoin is followed by Ethereum which accounts for only 17% of the total market.

Altcoins Remain Flat 

Large market capitalization Altcoins traded flat in the last 24 hours. Ethereum and XRP recorded 0.41% and 0.35% losses in the last 24 hours respectively while Binance coin gained by 0.75%. These price actions remain minimal and have no sweeping effect on the general market.

Ton and Cat themed Meme coins shine 

Despite the quiet weekend in the crypto market some crypto assets managed to stand out in their performance recording solid gains and raising the eyebrows of traders.

Ton the native token of Telegram’s Open Network recorded an over 2% gain in price fueled by a considerable increase in the total value locked in the protocol.

Besides Ton, another strong performer of the weekend is cat-themed meme coins like Wif. The entire category recorded an over 6% growth in the last 24 hours according to coin gecko data.

These specific brands of memecoins have outperformed their peers recently recording a whooping growth of 43% in the past week. Examples of strong performers within this category include Mog coin (MOG) and Pop cat (POPCAT).

The crypto market remained neutral over the weekend generally speaking with sentiment slightly improving according to relevant indicators.

What to know 

  • Ton is touted amongst experts to be a solid crypto asset given the robust ecosystem the Telegram team has built around its crypto project. From Telegram-based clicker games like Notcoin, Tapswap, and Hamster Kombat to the integration of a wallet into Telegram has helped attract millions of new users to crypto with the power of social media. Ton is the native crypto asset at the center of this ecosystem and it is expected to become a very big name in the industry in the coming years.
  • Cat themed memecoins like Popcat and WIF have shown strong bullish tendencies in recent days outperforming other memecoins in the industry. The entire category added 6% this weekend despite the general market inactivity.

NewsTimes.Africa.

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