- Crypto Market Update: Market Cap Holds at $3.05 Trillion Amid Mixed Trends
The cryptocurrency market showed marginal growth in the last 24 hours, with its total market capitalization ticking up by 0.27% to reach $3.05 trillion. However, trading activity took a hit, with daily trading volumes dropping 16.41% to $148.37 billion. Despite this, market sentiment remains bullish as the Fear & Greed Index continues to hover at “Extreme Greed” with a score of 82, indicating strong investor confidence.
Bitcoin Stays Firm at $90K Amid Declining Trading Volume
Bitcoin, the market leader, remains relatively stable, trading at $90,574.74 with a slight dip in dominance to 58.69%. Its market cap remains robust at $1.8 trillion, but the 16.41% drop in intraday trading volume reflects cautious investor behavior. Interestingly, BTC transactions below the $100k mark have surged to a three-year high, signaling increased interest from smaller investors.
Ethereum and Altcoins Display Mixed Results
Ethereum (ETH) saw a modest 0.15% rise to $3,115.12, maintaining its upward trend. Solana (SOL) outperformed with a 2.70% increase, reaching $243.65, driven by sustained investor trust. XRP also made gains, rising 1.55% to $1.15, reflecting the overall optimistic market sentiment.
Top Movers: Gainers and Losers
Among the top 100 cryptocurrencies, MANTRA emerged as the day’s biggest gainer, soaring 32.69% to $4.24. Hedera followed with a 26.03% increase, reaching $0.107, while Stellar climbed 12.78% to $0.2207, drawing significant attention.
On the flip side, Jupiter led the decliners, dropping 6.19% to $1.21. Brett and Helium also faced setbacks, slipping by 6.16% and 6.13%, respectively.
Outlook: A Balancing Act Amid Extreme Optimism
While the market’s overall growth remains minimal, the “Extreme Greed” sentiment underscores investor confidence in cryptocurrencies. However, declining trading volumes hint at a cautious approach by market participants, possibly awaiting stronger signals for the next big move.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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