The cryptocurrency market has opened positively today despite inflation concerns.
Cryptocurrency Market Overview
Over the past 24 hours, the total crypto market cap has increased by 3.10% to $3.22 trillion. Trading volume has risen by 22.27%, reaching $129.29 billion. The Fear & Greed Index has climbed to a neutral score of 40, indicating growing interest from investors.
Bitcoin's Institutional Demand
Bitcoin has maintained its bullish posture, rising 1.46% to $96,895.63. Its market cap of $1.92 trillion secures a dominance of 59.81%. The declining Bitcoin exchange reserves to 2.5 million are attributed to high demand from Bitcoin ETFs, accumulating BTC at a rate 20 times faster than mining.
Ethereum and Solana Price Movements
Ethereum has shown a strong increase of 4.33% in price, with trading volume up 33.31% to $26.64 billion. Meanwhile, Solana has remained relatively unchanged, posting a minor loss of 0.09%. XRP gained 2.54% amid speculation that the SEC may soon acknowledge Grayscale’s XRP ETF filing.
Overall, the cryptocurrency market shows positive momentum despite macroeconomic challenges.
