Market highlights: Ethereum reaches ATH, permaweb token Arweave up 67%

The crypto market was in the green over the last 24 hours, with most top 10 cryptos registering gains. The global crypto market cap is $2.76 trillion, a 1.61% increase over the last day. The three major US indices reached fresh highs yesterday following a raft of strong earnings updates.

Computer network hardware firm Arista Networks was one star amongst the US equities market yesterday after a stellar earnings update led to its share price soaring more than 20%. 

Top 10 coins

Ethereum, the second-biggest cryptocurrency by market cap, hit an all-time high on Wednesday, rallying on news of broader blockchain adoption. The ether token, on which the Ethereum blockchain is based, reached $4,643 in Asian hours. This takes its gains to over 10% just this week. 

Bitcoin was up around 2% at time of writing. Solana added around 10%, Ripple registered gains of 8%, and Shiba Inu lost around 7%. Polkadot is the biggest top 10 winner with a gain of 24.87% over the past week.

Top movers

Outside the top 10, Polygon was up around 9%, bringing its weekly value added total to 20.59%. The 41st coin by market cap, Arweave, achieved a fully diluted cap of $5,260,629,309 today, up 33.87% in the last 24h. 

Its trading volume was $615,884,534, up 672.19% in the past 24h. For the week, it has registered gains of 66.99%, easily making it the biggest winner in the top 50.  

Its USP is a new type of storage allowing users and developers to “truly store data forever – for the very first time.” The ecosystem is described as a collectively owned hard drive that never forgets. It can recall and preserve apps, history, and other valuable information indefinitely.

Arweave is associated with the so-called permaweb, a global, community-owned web that anyone can contribute to or get paid to maintain. All of its content is permanent, fast to retrieve, and decentralized, connecting people over an extremely long period of time.

Trending coins

The biggest winner of the day has been CardanoEvo (CEVO) so far. Although it’s trading at just $0.00003867, its market cap has increased by 1,171.62% in the last 24h. Its transaction volume was $523,855 in that period, up by 2,555.60% from the day before.