HYPE 20% Rises as Bitcoin Becomes Larger Than Amazon, Google (Market Watch)

Bitcoin (BTC) has broken its all-time record high, rising to almost $112,000 earlier today, a great milestone for the digital currency. Through the rise, the market capitalization of Bitcoin has risen to an epic level of over $2.2 trillion, surpassing such global technology titans as Amazon and Alphabet (Google) in terms of asset worth.

In the meantime, altcoin darling HYPE is making headlines after soaring 20% to trade at more than $31, dominating the altcoin market with huge intraday gains.

Bitcoin Reaches New All-Time High

Following a break above $100,000 on May 8, Bitcoin remained in the six-figure zone for several weeks, hovering between $103,000 and $105,000. Short-term breakout attempts were swiftly reversed, but uptrend momentum built steadily.

During the weekend, bulls attempted a new push, first being rejected at $107,000. However, the bullish momentum grew stronger, and on Monday morning in the Asian trading session, Bitcoin eventually broke through its January ATH level of $109,100, rising to an unprecedented $111,900.

Though BTC has retraced somewhat to $110,500, it has become the fifth-largest asset in the world by market cap, overtaking Amazon and Google. It still languishes behind Apple and gold, which is still leading the pack.

Altcoins Go Green: HYPE Takes the Lead

The altcoin market caught up with broad gains across the board:

Ethereum (ETH) soared 5%, now trading at over $2,650.

XRP rose 3.8%, maintaining above $2.40.

BNB bounced back above $680 following a strong 5% day's gain.

Other notable gains were recorded in Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Sui (SUI), Chainlink (LINK), Avalanche (AVAX), and Shiba Inu (SHIB).

The standout performance, however, is that of HYPE, which jumped by 19% in the past 24 hours, reaching $31+, beating all other top altcoins.

The combined market value of all cryptocurrencies has gone over $3.6 trillion.

Based on CoinGecko, the combined market cap of cryptocurrencies has surged past $3.6 trillion and crossed $120 billion. The rise shows investors are still feeling optimistic, thanks to Bitcoin’s breakout and strong showing by altcoins.

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