Crypto Market Cap Records New Two Month High; Is Correction Over?
Crypto markets are currently doing numbers that have not been seen in the last two months after the entire market cap tanked below $1 trillion, a far cry from the previously recorded $3 trillion. The trend in several coins, especially over the last 24 hours indicates an uptrend.
Global crypto market cap currently stands at $1.16 trillion
According to CoinMarketCap, global cryptocurrency market cap recorded over 6.63% percent increase over the past 24 hours which shoots it to $1.16 trillion, a level that has not been reached in the past 2 months.
The market has also been largely green over the past day as BTC crossed $24k, trading as high as $24,660, a significant 6.41 increase, before reverting back to $24,460 as at press time. Second largest cryptocurrency ETH, also rallied 12.72 per cent.
ETH’s price increase is attributed to the success of the Goereli testnet merge, the increasing anticipation of the main merge which is just a month away and positive cues from CPI data. ETH crossed $1900 in the last 24 hours but currently trades at $1884 per CoinMarketCap
Stable coins maintain pegs and other Altcoins record increase
USDT Tether and USDC maintained their $1 pegs and each registered a 0.01 uptrend over the last 24 hours.
Other coins like Binance’s BNB token gained 5.11 per cent, trading as high as $336 but currently trades at $331. Ripple’s token XRP also recorded 5.38 per cent from its value 24 hours ago.
SOL token, native to Solana blockchain, is up 11.69 per cent and is trading at $44.4. Cardano blockchain’s ADA token is now the seventh most valuable cryptocurrency surpassing binance stable coin after gaining 7.04 per at its 24 hour high.
These trends are extremely bullish and seem very indicative of a bullish run. However the crypto contagion which has seen several top firms liquidated still seems to be on and this trend might be only just fleeting.
- Binance Responds to Charges of Supporting Trump-Family Crypto USD1 and WLFI Soon After CZ Pardon
- SpaceX Makes Third Huge Bitcoin Transfer in 10 Days, Is Elon Musk Planning Something Big?
- Crypto Market Tumbles as Jerome Powell Says December Rate Cut ‘Far From Certain’
- FOMC Meeting: Federal Reserve Lowers Interest Rates by 25 Bps in Second Cut of the Year
- WLF Token Jumps 7% as Former Robinhood Counsel Joins Trump-Backed World Liberty Financial
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
- Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
- HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
- Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
- Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align?
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
MEXC