With Bitcoin jumping above $115,000 following a more than 3% increase over 24 hours, the cryptocurrency market started the week powerfully, implying fresh investor confidence ahead of important U.S. economic statistics.
Early Monday, the leading digital currency traded at $115,171, approaching the $120,000 threshold and generating excitement across world trading desks.
The News Chronicle observed that the latest surge in Bitcoin and other cryptocurrencies is partly driven by improving sentiment in global financial markets, spurred by progress in U.S.-China trade discussions and growing optimism among institutional investors. This development has filtered through to the broader crypto ecosystem, lifting major assets across the board.
Among alternative currencies, Ethereum started the charge, gaining 6.77% to trade at $4,196. Other significant tokens also showed remarkable growth, some rising by as much as 11% in twenty-four hours: BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid. With fresh excitement and increasing trading volume, the total worldwide market capitalization of cryptocurrencies grew 3.72% to $3.89 trillion.
Among outstanding performers, Hyperliquid saw a 10.51% increase and Dogecoin rose 5.77%, pointing to a comeback in retail trading activity. While Bitcoin up 4.70% and Ethereum 4.25% in weekly data, BNB and Cardano sparked a bigger market surge that brought several tokens up as high as 26%. Slipping 6.15% over the same time, Tron was the only underperformer.
Analysts credit macroeconomic optimism, greater institutional involvement, and technical indications indicating ongoing upward momentum for this recovery. Investors are getting ready for likely volatility leading into the release of the U.S. Consumer Price Index (CPI), which might impact world monetary policy trends.
In Nigeria, the rise mirrors growing domestic adoption of digital assets. According to SEC Director-General Dr. Emomotimi Agama, Nigerians traded over $50 billion worth of cryptocurrencies between July 2023 and June 2024 — a figure equivalent to N75 trillion.
Despite this surge, Agama noted that fewer than 4% of Nigerian adults invest in traditional equities, a gap highlighting both the appeal of crypto assets and the urgent call for greater financial inclusion.
