Bitcoin Rally Nudges Crypto Market Cap to $2.14 Trillion
The latest bitcoin rally has spurred the cryptocurrency market to grow by about 1.7% in the last 24 hours, according to data from the crypto exchange. At press time, the global crypto market cap had reached $2.14 trillion, representing a 1.66% increase over the last day.
The market report showed that most major digital assets were higher on Wednesday, with bitcoin (BTC-USD) crossing the $61,000 level. The CoinDesk Market Index, which tracks 134 digital assets, rose 2.6% in the past 24 hours. The Nasdaq 100 gained 0.3%, the S&P 500 added 0.2%, and the Dow Jones Industrial Average was up 0.1%.
Bitcoin (BTC-USD), the most popular cryptocurrency, climbed 3% to $61,351 with a 24-hour trading volume of $29.6 billion, down about 7%, according to CoinMarketCap data. Ethereum (ETH-USD), the second-largest digital asset, gained 1.5% to $2,645.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, dipped 0.6%, while Solana (SOL-USD), the fourth-largest, shed 0.7%. XRP (XRP-USD) was 0.2% lower, while Dogecoin (DOGE-USD) advanced 1.8% and Cardano (ADA-USD) soared 8.3%.
The US 10-year Treasury yield closed at 3.780%, down from Tuesday’s close of 3.818%, while the five-year yield closed at 3.642%, down from 3.700%.
The total market value of the cryptocurrency industry increased by 2.5% in the past 24 hours to $2.16 trillion. Trading volume shrank about 7% to $63.26 billion. The total crypto market volume over the last 24 hours is now at $69.75 billion, which makes a 12.01% increase, according to CoinMarketCap.com.
Also, the total volume in DeFi is currently at $4.4 billion, which makes up 6.31% of the total crypto market 24-hour volume on Thursday. The volume of all stable coins is now $64.58 billion, which is 92.58% of the total crypto market 24-hour volume. #Bitcoin Rally Nudges Crypto Market Cap to $2.14 Trillion 2025 Budget Will be Based on Needs Assessment, says Gbajabiamila
