Bitcoin, Global Crypto Market Cap Surge in Latest Rally
Bitcoin, the global cryptocurrency market capitalisation surged on Tuesday as investors began to return to the space for another round of bet before Donald Trump inauguration. According to trading data, Bitcoin (BTC-USD) has rebounded above $66,000 on Tuesday as retail investors’ increased buying interest in the orange coin.
Ethereum (ETH-USD) has also climbed by 5.34% in 24 hours to $3200, while Ripple (XRP-USD) has gained about 8% to $2.56. Both BNB-USD and SOL-USD are currently trending higher.
Consequent to the latest rally, the global crypto market cap advanced strongly to $3.34 trillion, according to data from CoinMarketCap.com, a 5.48% increase over the last day.
The surge followed increased demand for the crypto market amidst a reversal in bitcoin-linked exchange-traded funds (ETF) this week. Trading data revealed that the total crypto market volume over the last 24 hours printed at $151.9 billion, which makes a 24.81% increase.
The total volume in DeFi was valued at $8.01 billion, accounting for 5.27% of the total crypto market transaction volume in 24-hour. The volume of all stable coins is now $139.69 billion, which is 91.96% of the total crypto market 24-hour volume.
On Monday, major digital assets fell, with Bitcoin dropping below the $94,000 level. The CoinDesk Market Index, which tracks 124 digital assets, shed 4% in 24 hours.
The Nasdaq 100 eased 0.4% and the S&P 500 increased less than 0.1% in late trading, while the Dow Jones Industrial Average edged up 0.8%. Bitcoin, the most popular cryptocurrency, was 1.5% lower at $93,226 with its trading volume more than tripling to $69 billion, according to CoinMarketCap data.
Ethereum (ETH-USD), the second-largest digital asset by market value, slid 5.5% at $3,096. XRP (XRP-USD) eased 1.7%, BNB (BNB-USD) lost 2.6%, and Solana (SOL-USD) dipped 3.7%.
Dogecoin (DOGE-USD) dropped 1.4% and Cardano (ADA-USD) tumbled 4.7%. #Bitcoin, Global Crypto Market Cap Surge in Latest Rally
