Bitcoin price soared to a new all-time high of $62,839 earlier today nearly after a month of recording its previous ATH in March. Along with Bitcoin, several altcoins have also registered a bullish surge including Ether (ETH), Chainlink (LINK), and XRP.
ETH Records Another ATH on Consecutive Days
Ether recorded a new ATH of $2,221.4 earlier today breaching yesterday’s ATH of $2,215. ETH has recorded a bullish surge throughout April after spending the majority of March in the consolidation phase.
The rising gas fee that has been one of the biggest causes of worry this bull season has also cooled down to the lowest levels seen over the past 5 weeks. However, it is still comparatively quite high at $11.08 especially at a time when rival blockchain BSC has seen 3X the volume of the Ethereum network. The thing working in ETH’s favor is its diminishing market supply where a majority of the circulating supply is being staked in ETH 2.0 contracts or moved into cold storage wallets.
$LINK Eyes ATH
LINK token made headlines in early 2020 when the token price surged 10X at a time when most of the other cryptocurrencies were still in a consolidation phase. The altcoin recorded its ATH towards the end of February with a price of $36.83 and many trade pundits believe it could break into another pre-bull run rally like 2020.
Link is currently trading at $33.01 with a 0.5% loss over the past 24-hours. However, the recent inclusion of Link by Grayscale in its Large Cap Fund and the launch of Link Trust could help the altcoin break into the top 5 as it gets much necessary institutional exposure via Grayscale.
XRP Rises Out of Slumber to Record 3-Year High; ATH Next
XRP price has gone through a roller coaster ride this bull season, where its price dropped to a new low of $0.1748 in January this year post-SEC lawsuit against Ripple followed by several crypto exchanges in the US delisting XRP from their platform. However, the token price recovered to pre-lawsuit levels a month later.
XRP broke out of the consolidation phase at the start of April and the main reason behind its surge was attributed to the recent developments in the lawsuit. The ongoing court case in the lawsuit has revealed several details in favor of Ripple following which demands of relisting XRP have already become quite intense. XRP recorded a new 3-year high of $1.66 today surging over 16% for the day.
XRP is well set to test its previous ATH of $3.86 as its volume has already surpassed the 2017 levels despite being delisted from more than 10 platforms. If Ripple manages to win the case against SEC, XRP might record a parabolic rise like many other altcoins this season.