Today, the global cryptocurrency market experienced a significant surge, led by Bitcoin and Ethereum. Bitcoin rose by 3.87% to $36,739.46, bringing its weekly increase to 3.58%, and Ethereum climbed by 2% to $1,924.37, marking a 3.91% weekly rise. These increases contributed to a 0.82% rise in the total global crypto market cap, reaching $1.35 trillion, with a volume increase of 14.39% to $42.17 billion.
Yesterday, the digital asset market also saw substantial gains with Bitcoin increasing by 2.70% to $36,307.92 and Ethereum by 1.35% to $1,915.29. This rally pushed the global crypto market cap up by 2.17% to $1.36 Trillion, with a total volume of $44.92 Billion.
In addition to Bitcoin and Ethereum, other cryptocurrencies enjoyed price increases over the past two days. Meme currencies fluctuated; Dogecoin rose by 2.89% to $0.07619 with a market cap of $10.81 billion, Shiba Inu increased by 2.78% to $0.000008456 with a market cap of $4.99 billion, and Pepe Coin saw a boost of 2%. Other altcoins such as Ripple's XRP (+0.67% at $0.6913), Cardano (+3.35%, $0.365), Solana (+2% at $43.86), and Polkadot (+4.62%, $5.11) also experienced gains.
The day's top gainers were Mina, Sui, Arweave, Chainlink, and Bitcoin SV while the biggest losers were Trust Wallet Token, Tether Gold, Injective, and PAX Gold. Stablecoins Tether and USD Coin remained steady while Binance USD dropped. DeFi tokens Chainlink and Wrapped Bitcoin gained while Dai lost value. Among NFT tokens, Stacks and Axie Infinity gained while Internet Computer and Render lost value.
The recent upswing in the cryptocurrency market marks an improvement from last month's market valuation of $1.09 trillion and three months ago valuation of $1.18 trillion. The consistent growth in the global cryptocurrency market is indicative of the increasing interest and investment in digital assets.
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