The crypto market has managed to sustain its bullish momentum and reclaimed the $2 trillion market cap. Bitcoin and Ethereum seem to have pushed the market from the mid $30,000, and to its current levels. Related Reading | Only In Crypto: A Croissant Explains Ethereum Hottest Trends Post Merge The first and second crypto by market cap has seen a surge of new bullish narratives. The upcoming “Merge” and Bitcoin has pristine collateral seem to have provided additional support for the current momentum. Both ETH and BTC recorded around 17% profits in the last week, as the crypto market moves upwards. However, Delphi Digital recorded layer-1 cryptocurrencies with gains surpassing 50% in a 30-day period. Near (NEAR) stood among the latter and led the current market recovery, followed by Polkadot (DOT), and Terra (LUNA). As seen below, Binance Coin (BNB), Solana (SOL), Avalanche (AVAX), Cosmos Hub (ATOM), and others were in the best performer group. Delphi Digital noted the following on NEAR’s current bullish momentum: NEAR led the L1 recovery by growing by ~50% over the past month, a significant lead against the rest. The outperformance over the past week was catalyzed by the Bastion Lockdrop, which attracted $293M in capital. NEAR, WBTC, ETH, USDT, USDC were available to be locked for 1-12 months. Avalanche (AVAX) records a 10% profit in the last week with a 37% profit in two weeks. In addition, Avalanche records an explosion ...
