As Bitcoin approaches $31,000, Ethereum closes in on $1,700, and ChainLink rises 11%

While Ethereum outpaced Bitcoin, rising more than 3% but just squeezing into the $1,700 range, Bitcoin climbed more than 2% to stay around 31,000 levels.

The optimistic trend in the cryptocurrency markets over the weekend continued on Monday, with Bitcoin and other tokens seeing significant gains. All-around buying enthusiasm fueled the digital asset market’s upward momentum, which was aided by the potential approval of spot bitcoin exchange-traded funds (ETFs) in the US.

With the last cryptocurrency token rising more than 2% to hover around 31,000 levels, Bitcoin kept rising. Ethereum, its biggest rival, did better, rising more than 3% but still edging closer to the $1,700 mark. The majority of altcoins were seeing increases in price.

Over the weekend, Bitcoin crossed the $30,000 threshold, driven by fresh hope that a Bitcoin Spot ETF may be approved after many candidates updated their SEC filings last week. As a result of the price movement, Bitcoin has increased by more than 11% weekly and reached a three-month high.

At the moment, market sentiment is positive. At the same time, Ethereum broke above the $1,600 barrier level and is currently trading above $1,650. In addition, other cryptocurrencies have had notable increases, surpassing 35% and 41%, respectively, during the past week.

With the exception of Tron and the US dollar-pegged USD coin, the majority of popular cryptocurrency tokens saw significant gains in trading on Monday. Chainlink increased by over 11%, and Polygon increased by 8%. Solana saw a roughly 5% increase, and Polkadot and BNB both saw 3% increases.

The value of the world’s cryptocurrency market was trading significantly higher, having increased by more than 2% over the previous day to reach the $1.17 trillion milestone. Nonetheless, the total trading volume increased to $49.22 billion, up more than 22%.