XMR and ZEC Surge as Bitcoin Continues Its Recovery
The privacy coins are leading today's gains as Bitcoin shows signs of recovery above $86,000.
Bitcoin’s recovery over the weekend has seen its price rise past $86,000 after dipping below $81,000 last Friday.
Several altcoins are also showing significant growth, with Ripple’s XRP leading the pack. ZEC has surged back into the spotlight, closely followed by XMR.
Bitcoin Climbs Back to $86,000
Bitcoin recently broke below $100,000, struggling to maintain its value throughout the week. The asset had faced intense selling pressure, leading to a drop below $90,000. Last Friday, it lost over $8,000 in just 12 hours, hitting a seven-month low.
However, bullish sentiment returned, helping Bitcoin rebound slightly above $80,000. The coin’s market capitalization surged to $1.720 trillion, with a dominance rate of nearly 57%.
Notable Gains by ZEC and XMR
Ethereum has recorded a 3% increase and trades above $2,800. XRP has rebounded to the $2.00 mark after a 7% rise. ZEC and XMR are the day’s top gainers, rising 14% and 16%, respectively, with ZEC nearing $580 and Monero around $400.
The total market cap for cryptocurrencies has gained over $60 billion in a single day, bringing it back to $3 trillion.
