New records were set on the crypto chain
In the previous week, new records were set on the crypto chain. All crypto currencies combined have reached a record cap of $ 2.30 billion. After that, most cryptocurrencies went downhill on Sunday. The coin-high flyers of the last few weeks are already stepping on the increase again at the beginning of the week.
Dogecoin Takes Off
Dogecoin and favorite cryptocurrency of stars, had a great price jump of around 500 % in the previous week alone and hit a new all-time high on Friday at around $ 0.45. After the rise, the risk of setbacks was particularly high here, which is why the price briefly fell more than 40 % from its most recent high over the weekend.
The Good News For All DOGE Fans
In the significantly brightened overall market, the coin can again gain more than 25 % on Monday, making it the biggest winner in the crypto top list. With a market cap of currently around 50 billion dollars, the fun coin can also defend fifth place among the world's largest cryptocurrencies.
Binance Burns Coins And Sets Off Course Fireworks
With above-average profits of around 15 % on a 1 day basis, the Binance Coin is also back in rally. This means that the all-time high of April remains in focus after the price briefly collapsed by almost 18% on Sunday.
According to the market, a message from Friday that the crypto exchange burned its own Binance coins worth in the first quarter has a positive influence. Such a token burn is roughly comparable to a share buyback of listed companies and leads to a reduction in the number of units in circulation, which in turn has a great effect on the value of the remaining coins or shares.
The contents of this article are for informational purposes only and are not investment advice.