Paul Atkins: Global Crypto Market Cap Hits $3.71T as BTC Rally
The global cryptocurrency market has seen what the Wall Street calls an insane rally after U.S. President-elect Donald Trump picks Paul Atkins to lead the Securities and Exchange Commission.
For the first time ever, Bitcoin breached the $100,000 threshold late Wednesday as investors rushed to increase BTC holdings. Atkins is expected to run a pro-crypto currency regime under Trump administration, and analysts said his appointment was deliberate.
The biggest cryptocurrency is currently trading at $103,199, according to data from CoinMarketCap.com. Atkins, a former SEC commissioner during the presidency of George W. Bush, is expected to bring a lighter regulatory approach to the crypto industry. Two years ago, bitcoin sat below $17,000 following the collapse of crypto exchange FTX. It tipped $69,374 on Election Day last month.
Now, the global crypto market cap is $3.71T, a 4.52% increase over the last day. The total crypto market volume over the last 24 hours reached $360.26 billion, which makes a 24.23% increase.
The total volume in DeFi printed at $27.75 billion, accounting for 7.70% of the total crypto market 24-hour volume. Also, the volume of all stable coins has reached $329.15 billion, which is 91.37% of the total crypto market 24-hour volume.
Data showed that Bitcoin’s dominance is currently 55.01%, an increase of 1.48% over the day. On Wednesday, major digital assets advanced on Wednesday with Bitcoin (BTC-USD) crossing $99,000.
The CoinDesk Market Index, which tracks 126 digital assets, rose 3.5% in the past 24 hours. The Nasdaq 100 was 1.3% higher in late trade, while the Dow Jones Industrial Average and S&P 500 gained 0.8% and 0.6%, respectively.
Bitcoin was 3.8% higher at $99,147 with $69.9 billion in trading volume. Ethereum (ETH-USD), the second-largest digital asset by market value, jumped 7.5% at $3,867.
XRP (XRP-USD) slumped 8.6%, while Solana (SOL-USD) gained 1.5%. BNB (BNB-USD) climbed 6.2%, Dogecoin (DOGE-USD) added 2.2%, while Cardano (ADA-USD) eased 0.4%.
The US 10-year Treasury yield closed at 4.178%, easing from Tuesday’s close of 4.221%, while the five-year yield dropped to 4.06% from 4.106%. #Paul Atkins: Global Crypto Market Cap Hits $3.71T as BTC Rally CUTIX Gains 30% on Earnings Forecasts, Unusual Trade Volume
