CryptoBitcoinBitcoin Price Surges to Post-Halving Highs

Bitcoin Price Surges to Post-Halving Highs

Bitcoin (BTC) has soared past the $71,000 mark, reaching its highest price since the Bitcoin Halving event. This upward momentum coincides with a significant increase in Bitcoin-based memecoins such as ORDI, DOG, and PUPS. According to CoinMarketCap data, Bitcoin peaked at $71,172 on Wednesday and is currently trading at $70,839, reflecting a 2.21% gain in the past 24 hours and a 3% rise over the last seven days.

Memecoin Mania Drives Token Gains

The Bitcoin surge has spurred remarkable gains among notable fungible tokens on the Bitcoin blockchain, including BRC-20 and Runes tokens. ORDI, the first token minted using the BRC-20 standard last year, has jumped nearly 17% to just under $57.50, its highest since early April. Other BRC-20 tokens have also seen substantial increases, with PUPS climbing 121% and Bitcoin Wizards (WZRD) up 136%. Both PUPS and WZRD are set for a planned launch on the Runes protocol.

Market Capitalization Milestone

The combined market capitalization of tokens on the Bitcoin-based Runes protocol has exceeded $2 billion, highlighting a robust resurgence of the memecoin ecosystem on the Bitcoin network. Data from GeniiData indicates that the value of Runes tokens has reached $2.4 billion, doubling from $1 billion just last week. The Runes token standard was introduced during the April 19 halving.

DOG Token Performance

DOG•GO•TO•THE•MOON (DOG), a leading token on the Runes protocol, has demonstrated impressive growth. Initially airdropped free to holders of Runestones, DOG has more than doubled in price over the past week, rising 120% to over $0.0095. This surge has propelled DOG’s market cap to $960 million.

Conclusion

The recent surge in Bitcoin prices, coupled with the explosive growth of Bitcoin-based memecoins, underscores a dynamic and evolving cryptocurrency market. Investors are closely watching these developments as the memecoin ecosystem continues to thrive on the Bitcoin network.

Related Topics:

Share This Post

Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

Related Posts

Ripple Launches RLUSD Stablecoin to Compete in Dominated Market

Ripple has officially launched its stablecoin, RLUSD, pegged to...

BlackRock’s Larry Fink Predicts Bitcoin Could Rival U.S. Housing Market

Larry Fink, the CEO of BlackRock (NYSE: BLK), has...

Gomble Games Unveils Launchpool #2

Gomble Games, the blockchain division of 111%, has launched...

DTX Exchange Raises $4.75 Million Early, Paving Way for Unified Asset Trading

The cryptocurrency market’s bullish momentum has set the stage...

MEXC Leads Global Memecoin Market with Diverse Offerings and High Returns

Memecoins continue to hold significant sway in the cryptocurrency...

Crypto Market Sees $184M in Liquidations Amid Bitcoin, Ethereum, and Solana Surge

The cryptocurrency market has shifted back into bullish territory,...