The crypto market is experiencing a calmer day today. However, looking at the past week, it can be said that cryptocurrencies are in a general recovery. These recoveries are led by the industry giant Bitcoin (BTC), as well as Avalanche (AVAX) and Ethereum (ETH).
Ethereum, Cardano, Avalanche and Solana (SOL), one of the leading tier 1 networks of the crypto market, rallied close to 10% last week, earning more than other cryptocurrencies. Ethereum is gaining twice the percentage of the industry giant Bitcoin and it is seen that it has gained about 12.6% in the last week. Bitcoin (BTC), on the other hand, remains stable with only 6% increase. At the time of this writing, Ethereum (ETH) is trading at $2927, up nearly 2% in the last 24 hours.
In this process, Ethereum's (ETH) competitors are not sitting idle. Avalanche (AVAX), which is among the top twenty cryptocurrencies by market cap, is pushing almost $90. AVAX hit an all-time high of $146 about four months ago. Currently, this is about 38% below $146, but the increases in the last seven days make AVAX investors happy.
On the other hand, Solana and Cardano are showing weekly increases of 11% and 12% respectively. At the time of this writing, Solana is trading at around $89, while Cardano is trading at $0.9. However, Ethereum Classic, which is the 29th largest cryptocurrency by market capitalization, surprises the market with a 50% increase in the past seven days. At the time of this writing, ETC is trading at around $39.
Altcoins and Bitcoin closed the past week with rebounds. However, experts think that these fixtures of the industry will become increasingly valuable as governments' crypto laws become widespread and advances are made with crypto regulations, especially in America.