With stable interest rates from the Federal Reserve, the overall crypto market capitalization has grown by 3.22%, reaching a mark of $2.8 trillion. Despite the uptrend, trading activity has diminished.
Bitcoin Rises Amid Legislative News
Over the past 24 hours, Bitcoin has risen by 3.15%, with the current price standing at $85,555. The market is abuzz with new U.S. legislative initiatives, proposing the acquisition of 1 million BTC over a five-year period. Meanwhile, Bitcoin’s notable proponent, the company Strategy, plans to acquire an additional $500 million worth of BTC.
Ethereum and XRP Ride the Wave
Ethereum demonstrated a rise of 3.94%, trading around $2,014.06. XRP drew particular attention with a 6.28% rise after the conclusion of a long-running lawsuit, climbing from $2.57 and stabilizing at $2.44. Solana is also trending, showing a daily gain of 5.82% and trading at $133.15.
Today's Gainers and Losers
Leading the growth is FORM with a rise of 12.22%, reaching $1.74. Following is UNI with a gain of 7.42%, and LDO with an increase of 6.89%. Among the decliners is EOS with a drop of 6.31% to $0.5862. Also in the red are OM and MKR with losses of 3.39% and 2.57% respectively.
Despite numerous positive news, the cryptocurrency market remains volatile. It is important to monitor policy changes and other external factors that might affect asset prices.
