Daily Crypto Update: Fear and Greed Index Creeping to Extreme Greed

The crypto market has picked up pace, with top cryptos continuing their momentum. After months, Bitcoin recently crossed the 67k-dollar mark.

Even the Fear and Greed Index is indicating a similar trend. According to Cointree, the market has entered a Greed pattern, with the index hitting 73. However, the surge has come at the cost of meme coins and emerging tokens.

With the market rejuvenating, traders trust established coins instead of new names. Here is an overview of the crypto market with the latest developments.

Bitcoin

The number one crypto in the world went on a bullish spree for the third day in a row. The market leader accumulated 2.86% growth in 24 hours to cross the 67k-dollar mark.

Its weekly performance chart shows a surge of 7.50%, with the coin trading at 67,179 dollars. BlackRock is leading in the BTC ETF arena as the market hit 371 million dollars in inflows. Bitcoin’s dominance has hit a 3.5-year high, as the coin is leaving the competition behind. 

It is anticipated that its dominance will be maintained for as long as the market remains stable.

Ethereum

Ethereum is competing with Bitcoin, accruing 1.1% growth in 24 hours. Ethereum’s 7% growth over the past 7 days puts it on equal footing with the market leader.

ETH has comfortably crossed the 2,600-dollar mark and is trading at 2,619 dollars. The second-largest crypto suffered a minor blow after an ETH ICO participant sold off 113 million dollars worth of Ethereum to purchase ETFS.

Even then, ETH has maintained a firm stance in the market.

Solana

SOL is keeping up with the industry leaders regarding weekly growth, with a surge of 7.28%. However, the crypto only gained 0.47% in the past 24 hours.

It is trading well above the 150-dollar mark, currently priced at 154.53 dollars. Blockcast recently raised 2.85 million dollars to scale Solana’s decentralized content delivery.

At the same time, a SOL trader dumped 10 million dollars in POPCAT to join RCOF’s presale. SOL is making significant process in the market and anticipates significant gains in the upcoming months.

Dogecoin

The original meme token stood tall on Wednesday as the only meme coin to gain 2.51% value. In terms of weekly growth, DOGE is outperforming SOL, ETH, and BTC.

With a 7-day growth of 8.29%, Dogecoin is trading at 0.1184 dollars. Its 24-trading volume also increased by 33% within a single day. Apart from the market momentum, Dogecoin has not experienced any significant market development.

Hence, the meme coin is expected to lose its bullish sentiment shortly.

Litecoin

After weeks of struggle, Litecoin finally gained precedence by surging 7.39% on Wednesday. With the boost, LTC crossed the 71-dollar mark, and it is currently trading at 71.78 dollars.

Its weekly growth is 9%, while its monthly surge is at 13.80%. Canary Capital recently filed an S-1 for a Litecoin ETF. Should the request receive approval, LTC anticipates a major boost in the upcoming months.