Cryptocurrency Market Trades in Green
Gaining momentum, the global cryptocurrency market capitalisation inched to $1.19 trillion, a 0.93% increase over the last 24 hours, according to data from Coinmarketcap.com shows.
At the press time, Bitcoin was trading at about $28,500, up by about 2% in the last 24 hours. At about $1,869, Ethereum has gained marginally, up by less than 1% in the last 24 hours.
The total crypto market volume over the last 24 hours is $28.79 billion, which makes a 6.68% increase. Trading data shows that the total volume in DeFi settled at $3.07 billion, 10.66% of the total crypto market 24-hour volume.
Amidst bullish trading, the volume of all stablecoins printed at $24.92 billion, which is 86.55% of the total crypto market 24-hour volume. Thus, Bitcoin’s dominance has been on the upside, settling at 46.16%, representing an increase of 0.23% over the day.
Analysts said Bitcoin’s failure to break above the $30,000 level has attracted profit-booking in several altcoins but a few have witnessed shallow pullbacks.
This indicates that traders are holding on to their positions expecting a move higher. Ethereum, the world’s second-largest cryptocurrency by market capitalization, has reached a new milestone in terms of self-custody.
According to data from Santiment, the amount of Ethereum held in self-custody and away from exchanges has reached an all-time high, marking a significant increase in confidence from hodlers.
This essential all-time low ratio of Ethereum on exchanges, which currently stands at 10.31%, indicates a growing trend of investors choosing to hold onto their Ethereum rather than trading it on exchanges. #Cryptocurrency Market Trades in Green
