The crypto sector is seeing a notable recovery with key cryptocurrencies like Bitcoin and Solana rising.
Market Cap Reaches $3.69T
According to CoinRank.io, the ongoing recovery in the crypto market has reached a notable level. Bitcoin's surge above $103,114 marks a 4.7% increase over the past 24 hours. Meanwhile, Solana has seen a 6.48% rise, reaching $240. The cumulative market capitalization in the crypto sector stands at $3.69T, accounting for a 3.55% increase. The 24-hour spot trading volume has reached $81.06B, showing a 5.30% increase.
Chinese App Causes Market Downturn
Recently, the crypto market reportedly went through a severe decline due to a Chinese app. The release of the Chinese AI application 'DeepSeek' triggered large-scale liquidations in the crypto market. As a result, total liquidations rose to nearly $613M within 24 hours. The largest single liquidation was observed on the $HTX exchange, accounting for $98.46M. Nonetheless, the ongoing recovery underscores positive development as Cardano, Dogecoin, and Ripple recorded +8.05%, +7.01%, and +11.36% gains respectively.
Potential for Further Crypto Growth
According to CoinRank.io, amid the crypto market revival, several large-cap crypto projects have shown significant increases. Specifically, $GT, $HYPE, $AERO, and $JUP jumped by +14.3%, +15.7%, +18.8%, and +26.1% respectively. Additionally, small-cap gainers include $FSTR, $PEPO, $KYVE, $MULTI, and $LUMO with gains of +76%, +114%, +122%, +135%, and +143% respectively. Furthermore, World Liberty Fi, Pell Network, and Humanity have raised $10M, $3.5M, and $20M in respective funding rounds. This contributes to increased confidence in further upward market momentum.
The crypto market continues its recovery, showing promising prospects for further growth with successful projects and key cryptocurrencies leading the way.
