In the last few days, we have experienced another small rally in the prices of the cryptocurrency market, led by the momentum of the king asset: Bitcoin (BTC).
Thanks to the institutional buzz around bitcoin-based spot fund (ETF) applications from big money management firms like Fidelity Investments, BlackRock, WisdomTree and Invesco; The bitcoin price has been testing the 30k zone, after weeks of high volatility marked by past events with the SEC, Binance and Coinbase.
As expected, the market reacts in a similar way to the behavior of the price of bitcoin, due to its dominance, which already reaches 50% for the first time in almost two years.
Chart reflecting Bitcoin’s dominance in the market – Source: TradingView
But even though bitcoin price has grown by around 17% in the last seven daysis not the only asset that has had a significant positive appreciation in the same period.
According to the High-Value Asset Performance Index (Bluechip Performance Index), in addition to bitcoin, the cryptocurrencies ADA, ARB, ETH and Matic have had double-digit price performance at the time of writing this document.
Bluechip Performance Index – Source: Dune Analytics
The index measures the performance of the assets with the highest volume of trade in the main decentralized exchanges of the market during the period under study.
Based on the chart above, only BNB and Doge tokens have seen sub-double-digit positive performance in the past seven days.
However, the Doge token managed to overcome the double-digit barrier at dawn on June 22, a period in which all assets reached their maximum trading value; with an 11.12% performance.
ARB, the native token of the Arbitrum blockchain network, has been the best-performing token in this latest bullish rally within the list listed as Bluechipswith a maximum price performance of 22.73%, followed by bitcoin with 19.13% when it managed to reach the price of USD 30,502.
PEPE: The memecoin is back on the radar
In addition to the positive performance of the bitcoin price and Arbitrum’s ARB token in the last seven days, the coin inspired by the well-known “Pepe the Frog” meme (PEPE) is the big winner during the latest bullish rally in the market.
PEPE is the only token within the top 100 of the general ranking of cryptocurrencies that appears at the top of the table for its performance during the aforementioned period.
According to Cryptorank data, the PEPE price has grown by 77.1% in the last seven days, after reaching a maximum of USD 1.7e-6 in the indicated period.
PEPE Price Change – Source: Cryptorank
The PEPE token has gone from trading at USD 8.8e-7 on June 15 to a current price of USD 1.59 e-6 in just seven days. In the last three months, the token has achieved a staggering return of +2,232.9%.
1H PEPE/USDT Chart – Source: TradingView
PEPE is also currently positioned as the cryptocurrency with the highest participation in social networksaccording to LunarCrush’s AltRank index, which measures the popularity of projects across the broad spectrum of social media based on their mentions.
Source: Lunarcrush
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