Crypto Prices Today (May 12): Bitcoin and major league altcoins have mainly sustained a bullish action as the week kicks off, keeping investors hopeful about future developments. While BTC price held steady at the $103K level, Ether maintained a trading session at $2.5K. Meanwhile, Solana and Ripple’s XRP have not witnessed any major intraday fluctuations. Some of the top meme coins for the day were Moo Deng (MOODENG) and Pepe Coin (PEPE), which rallied 100% and 10%, respectively.
Broader market experts and participants deem the current bullish landscape as a direct response to eased tariff discussions between the U.S. and China following high-level talks in Geneva. In turn, risk assets such as cryptocurrencies have leveraged a positive market sentiment as global markets digest trade war tensions.
After witnessing turmoil since the beginning of this year, crypto prices are now reflecting bullishness amid reduced U.S. tariffs globally. The global crypto market cap has also reflected optimism, up 1.82% intraday to $3.29 trillion. Simultaneously, the global crypto market volume was also up nearly 3% to $167.09 billion.
Mentioned below are some of the top coins for the day and a brief report on their prices.
As of reporting time, BTC price witnessed a marginal 0.22% jump and rested at $104K. However, despite riding a rollercoaster in the past 24 hours, the flagship coin has managed to hold above $103K. In turn, Bitcoin market participants remain bullish, whilst the asset’s market dominance was evaluated as 62.6% this Monday.
Intriguingly, the bullish action was further fueled by strong inflows in U.S.-based BTC ETF products. SosoValue data indicated that American Bitcoin ETF products recorded the third consecutive week of inflows, with the latest weekly inflow totaling $599.59 million. Meanwhile, Coinglass data added to the optimism, indicating that futures OI for the coin rested at $67.5 billion, up 3% intraday.
At the time of reporting, ETH price rested at the $2,500 level, down marginally by 0.5% in the past 24 hours. The second-largest crypto by market cap hit an intraday bottom and peak of $2,441.73 and $2,546.87, respectively. Ethereum’s market dominance rested at 8.7% this Monday.
Converse to BTC, ETH ETFs have recorded $55.76 million worth of outflows. Nevertheless, Ethereum has managed to soar alongside other cryptocurrency prices in recent days.
Simultaneously, Ripple’s XRP rested at $2.40 as of early Asian hours this Monday, up 1% in the past 24 hours. On the other hand, SOL price closed at $175, also up nearly 1%.
Meme coins in the interim stole the spotlight, with DOGE gaining over 3% to $0.2408, Shiba Inu gaining over 2% to $0.00001656, and PEPE surging over 10% to $0.00001440.
Meanwhile, MOODENG price led the crypto prices today, rallying over 100% in just 24 hours and hitting $0.2679. The Solana meme coin pumped remarkably as Binance extended support to the token, adding it to its Alpha projects. On the other hand, the meme coin’s futures OI also surged over 130% intraday to hit $301.77 million.
Some of the top gainers for the day included:
There were no major top losers for the day, reflecting a bullish sentiment brewing across the sector.
Overall, broader market sentiments currently remain bullish amid rising price actions witnessed in a majority of the crypto prices. Further, as trade war tensions cool down, investors are once again flocking into markets to capitalize on the current bullish scenery.
Today's crypto market crash triggered major congestion at some of the top centralized exchanges like…
The crypto market has witnessed the biggest single-day crash in history, with more than $19…
The crypto market is facing further declines following President Donald Trump’s announcement of a 100%…
Following complaints of consistency issues with the ASTER token airdrop, Aster DEX has announced a…
The Bureau of Labor Statistics (BLS) has rescheduled the release of the September Consumer Price…
A group of major world banks is working on a new stablecoin tied to G7…