Bitcoin reached $72,950 later on the night of March 4, recording a 7.09 percent increase on a daily basis. While a general upward trend was observed in the cryptocurrency market, the assets in the top ten mostly gained value. In 24-hour performances, Dogecoin stood out as the main crypto asset that gained the most.
The Rise of Dogecoin and Market Dynamics
According to market data, many of the top eleven assets on the CoinMarketCap list at the close of March 4 showed notable increases over the 24-hour period, although they declined slightly in the last 1-hour period. This chart indicates that a significant part of the rise during the day occurred in the early hours and investors made profit sales in the last hours.
Bitcoin was momentarily traded around $72,950 and gained 5.48 percent on a weekly scale. Ethereum increased by 9.10 percent in the last 24 hours, rising to $ 2,152, and Solana increased by 9.61 percent, reaching $ 92.91. It is not a routine development for these three assets, which have a significant share in the total size of the market, to exhibit such strong movements on the same day.
Dogecoin, on the other hand, achieved a remarkable performance among the top ten. DOGE rose to $0.1023 with an increase of 14.89 percent. According to analysts’ evaluations, the fact that Dogecoin, which is a memecoin, has outperformed the overall market by far, indicating that especially individual investors reacted quickly to the positive atmosphere.
Weekly Table for Remaining Assets
When viewed on a weekly basis, the picture becomes more complex. Cardano decreased by 8.62 percent and Bitcoin Cash by 8.95 percent in the last seven days. Although XRP gained 7.73 percent on a daily basis, it lost 0.54 percent on a weekly basis. These results show that the impact of the sharp decline on some assets, especially on February 27, has not yet been fully compensated.
BNB, the native token of the Binance exchange, rose by 4.69 percent to $660.99 in the last 24 hours. However, this rate was one of the smallest increases in the list of major assets, excluding stablecoins outside the top ten. Although Tron joined the rise with 2.35 percent, it remained behind the general market movement. This chart shows that the rise was not distributed equally across all assets, and that capital shifted to assets with higher volatility.
Short-Term Market Movements and Factors
All of the top eleven assets experienced slight declines in the last hour period. Bitcoin fell by 1.03 percent, Ethereum by 1.26 percent, and Solana by 0.49 percent. This simultaneous and limited decline is attributed to the fact that some investors reduced their positions following the rapid rise during the day.
It is stated that among the factors affecting this rise in the market, Donald Trump’s open support for crypto legislation, Morgan Stanley’s ETF application and the White House’s meeting with Coinbase officials stand out. The extent to which these developments will have permanent results on legal grounds stands out as the main factor that will shape the coming days of the market.
