Global Crypto Market Cap Rises to $3.24T as Bull, Bear Tango
Top cryptocurrency sell offs has continued to rub off on the market value of all cryptocurrency. However, there have been mild buying interest in some coins. Generally, the crypto market exhibited strong volatility as bull and bear tango amidst global economic uncertainties.
Trading data has now revealed that Bitcoin (BTC-USD) has started to recover, up by 9 basis points to settle at $97,500 level. Ethereum (ETH-USD) the second largest digital asset has remained downbeat, losing 1.5% in the last 24 hours across crypto exchange.
The market uptrend is supported by positive price movement seen in Ripple (XRP-USD), up by 1.34% on the day and Bitcoin (BTC-USD). The crypto market has been trading in red in the past 24 hours, with slight recovery seen in some top 10 digital assets.
Specifically, the global crypto market cap reached $3.24 trillion, a 0.52% increase over the last day. The total crypto market volume over the last 24 hours reached $96.04 billion, which makes a 2.08% increase.
According to market data, the total volume in DeFi settled at $7.48B, accounting for 7.79% of the total crypto market 24-hour volume. Traders also reported that the volume of all stable coins printed at $87.53 billion amidst soft rally, accounting for 91.14% of the total crypto market 24-hour volume.
On Friday, the major digital assets were advancing late afternoon Friday with Bitcoin (BTC-USD) trading close to the $98,000 level. The CoinDesk Market Index, which tracks 124 digital assets, rose 2.7% in the past 24 hours.
The Nasdaq 100 edged 0.4% higher in late trading, the S&P 500 was flat, while the Dow Jones Industrial Average dropped 0.5%. Bitcoin climbed 1.5% to $97,645, with a 24-hour trading volume of $29.82 billion, down 22%, according to CoinMarketCap data. The most popular cryptocurrency was on track for a weekly gain of nearly 2%.
Ethereum (ETH-USD), the second-largest digital asset by market value, was 3.3% higher at $2,740 and heading for a weekly rise of more than 5%. XRP (XRP-USD) surged 11% and Solana (SOL-USD) added 3.8%, while BNB (BNB-USD) eased 0.8%. Dogecoin (DOGE-USD) jumped 6.9%, while Cardano (ADA-USD) was little changed.
The US 10-year Treasury yield stood at 4.476% at 3 p.m. ET Friday, down from 4.523% Thursday, while the five-year yield eased to 4.327% from 4.384%. #Global Crypto Market Cap Rises to $3.24T as Bull, Bear Tango Interbank Rates Slow as Remita, FAAC Credits Boost Liquidity
