New ATH for Bitcoin and Ethereum, Helium continues ascent

Weekly Roundup of Cryptocurrency News 05/11/2021

On November 9, the cryptocurrency market soared to an all-time high, reaching a market cap of $3 trillion. Its momentum was mostly carried by the two top coins by market cap, both of which surged to record highs. This morning, the crypto markets were in the green. The majority of the top 10 coins by market cap were up.

Crypto mining company shares rose in tandem with the cryptocurrencies themselves. Canaan and Marathon Digital Holdings both jumped around 17%.

US stocks reach fresh highs. The DJ30 peaked yesterday. Both the SPX500 and NASDAQ100 hovered near record levels.

Top cryptos

Bitcoin and Ethereum added around 3% resp. 1% to their market value. At time of writing, Bitcoin was trading at over $68,000, surpassing its previous record high set in October. Ethereum was seen trading above $4,800, for the first time in history. 

Most top ten digital coins have climbed so far this week. Solana is the biggest winner in this category. It added almost 21% to its value. Dogecoin is up almost 5%.

Bitcoin and Ethereum have gained almost 31% since last month as investors embrace digital assets to protect themselves against inflation.

Shiba Inu continues to decline, having lost 2.72% of its value today so far. At #14, Litecoin gained 20.94% today, but it is still just under 40% away from its all-time high of $411.73.

Top movers

The most notable performers in the top 100 are The Graph at #39, which gained 13.42% today and 20.63% in the past seven days. An even better performer was Helium at #41. At the time of writing, it was trading for $49.53. It gained 17.86% today and 70.98% in the past 7 days. Helium is based on the premise of purchasing hot spots and its value has been rising steadily of late.

Analysts predict Helium coin might reach $50 in the near future if it sustains its current bullish trend.

Trending

The biggest gainer at the time of writing was Bitball. It has a market cap of just under $4 million, up 707% in the last 24 hours. Its trading volume is currently $851,835, up 85% in the last 24 hours.

Bitball aims to become a cryptocurrency that is accepted as a mode of payment in real-life scenarios with multiple utilities. Its creators’ mission is to develop an ecosystem closing the gap between digital currencies, exchanges, and customers.

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