Bitcoin Reclaims $100K, Cryptos Market Cap Nears $3.7T
The bitcoin price has rebounded, trading above in the last 24 hours in the cryptocurrency market, with the total value of all assets settling at $3.66 trillion.
The orange coin had plunged to $98,000 on Friday before a fresh rally formed after U.S. president-elect Donald Trump picked David Sacks to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developing industries.
According to data from CoinMarketCap.com, the global crypto market cap reached $3.66 trillion, a 0.99% decrease over the last day. The total crypto market volume over the last 24 hours has settled at $174.15 billion at the same time, which makes a 42.11% decrease in transactions.
Data also showed that the total volume in DeFi is currently $17.53 billion, accounting for 10.07% of the total crypto market 24-hour volume. The volume of all stable coins is now $161.53 billion, according to CoinMarketCap, which is 92.75% of the total crypto market 24-hour volume.
On Friday, Bitcoin (BTC-USD) marched toward its record high above $100,000, with other major cryptocurrencies also advancing.The CoinDesk Market Index, which tracks 126 digital assets, rose 4%. The Nasdaq 100 and S&P 500 were 0.8% and 0.2% higher in late trade, respectively, while the Dow Jones Industrial Average eased 0.3%.
Bitcoin was trading 2.7% higher at $101,830, according to CoinMarketCap data, near its all-time high at $103,900 that was hit on Thursday. The most popular cryptocurrency’s 24-hour trading volume dropped 22% to $111.3 billion.
Bitcoin was on track to post a weekly gain of more than 4%. Ethereum (ETH-USD), the second-largest digital asset by market value, surged 6.5% at $4,061, stretching its weekly gain to about 13%.
XRP (XRP-USD) gained 4%, while Solana (SOL-USD) added 2.8%. BNB (BNB-USD) was 4.2% higher, Dogecoin (DOGE-USD) rose 1.8%, and Cardano (ADA-USD) was up 3.6%.
The US 10-year Treasury yield closed at 4.149%, easing from Thursday’s close of 4.179%, while the five-year yield dropped to 4.032% from 4.076%. #Bitcoin Reclaims $100K, Cryptos Market Cap Nears $3.7T Lagos Boosts CNG Initiative for Sustainable Energy
