Crypto Market Cap Rises 1.73% to $3.4T on Bitcoin Rally
The global crypto market cap has reached $3.35 trillion, translating to a 1.73% increase over the last day due to a sustained price surge in the world’s largest digital asset, Bitcoin (BTC-USD).
The cryptocurrency has doubled down on gains over expectations of improved regulation under U.S. president elect Donald Trump, with buckets of promises to crypto communities.
Latest data from CoinMarketCap.com showed that the total crypto market volume over the last 24 hours has moderated to $223.49 billion, translating to a 8.01% decrease over day.
The total volume in DeFi is currently $14.41 billion, according to data from the Exchange, accounting for 6.45% of the total crypto market 24-hour volume. Also, the volume of all stable coins is now $199.31 billion, which is 89.18% of the total crypto market 24-hour volume.
Major digital assets were firmer late Friday with Bitcoin (BTC-USD) trading near an all-time high just under $100,000.
The CoinDesk Market Index, which tracks 126 digital assets, was 1.5% higher in the past 24 hours. The Nasdaq 100 was flat in late trading, the S&P 500 edged up 0.2%, and the Dow Jones Industrial Average climbed 0.8%.
Bitcoin, which dominates the cryptocurrency market, rose 1.4% to $99,144, shortly after setting a record high of $99,655, according to CoinMarketCap data. Bitcoin’s 24-hour trading volume dropped 22% to $80.31 billion.
Following its extended rally driven by optimism for US President-elect Donald Trump’s support for digital assets, Bitcoin was on track for a weekly gain of about 9%. Ethereum (ETH-USD), the second-largest digital asset, fell 1.5% to $3,290, paring its weekly rise to about 7%.
Solana (SOL-USD) gained 0.5% and BNB (BNB-USD) also edged up 0.5%. XRP (XRP-USD) surged 23.2%, Dogecoin (DOGE-USD) climbed 4.2%, and Cardano (ADA-USD) soared 24.7%, according to data from CoinMarketCap.com
The US 10-year Treasury yield closed at 4.406%, down from Thursday’s close of 4.43%, while the five-year yield dropped to 4.295% from 4.302%. #Crypto Market Cap Rises 1.73% to $3.4T on Bitcoin Rally Naira Mixed as Markets Brace for $2.2bn External Borrowing
