Market Cap of All Cryptos Rises to $3.5T, Major Assets Struggle
The market cap of all cryptos increased to about $3.5 trillion during early trading on Tuesday due to buying interest in lightweights. In the past 24 hours of trading, major cryptocurrency has been struggling to retain gains after an overnight rally over the weekend.
Bitcoin is trading below $95,000 after a gain recorded previously that lifted its market price above $66,000. Trading on recovery line, Ethereum is now above $3600 and has gained 0.04% over the day.
The top 10 cryptocurrencies major show sign of strong volatility as U.S election euphoria receded. Data showed that the global crypto market cap has reached $3.48 trillion, more than 2.04% increase over the last day.
The total crypto market volume over the last 24 hours printed at $263.4 billion during trading session, which makes a 23.59% increase.
Also, the total volume in DeFi transactions conducted on CoinMarketCap.com has reached $27.27 billion, and it account for 10.35% of the total crypto market 24-hour volume.
Further review showed that the volume of all stable coins is now $231.11 billion, which is 87.74% of the total crypto market 24-hour volume. On Monday, major digital assets were weaker late Monday with Bitcoin (BTC-USD) dropping below $96,000.
The CoinDesk Market Index, which tracks 126 digital assets, edged up 0.5% in the past 24 hours. The Nasdaq 100 and the S&P 500 were 1.2% and 0.3% higher in late trade, respectively, while the Dow Jones Industrial Average eased 0.2%.
Bitcoin dipped 1.3% to $95,730, according to CoinMarketCap data. The most popular cryptocurrency’s 24-hour trading volume surged 110% to $71.6 billion.
Ethereum (ETH-USD), the second-largest digital asset, fell 2% to $3,614. Bucking the trend, XRP (XRP-USD) soared 28% and Cardano (ADA-USD) jumped 10.4%. Solana (SOL-USD) slumped 5%, BNB (BNB-USD) lost 2.1%, and Dogecoin (DOGE-USD) shed 2.9%.
The US 10-year Treasury yield closed at 4.194%, up from Friday’s close of 4.169%, while the five-year yield rose to 4.093% from 4.048% #Market Cap of All Cryptos Rises to $3.5T, Major Assets Struggle Naira Plunges on Suboptimal FX Intervention
