WASHINGTON (dpa-AFX) - Cryptocurrencies jumped emphatically in the past 24 hours amidst the Bitcoin halving countdown shrinking to just 11 days. Data showing continuing inflows to digital asset investment products also supported the surge.
The keenly anticipated Bitcoin halving event is 1683 blocks away and is expected to happen in around 11 days. With the halving, the block reward would be reduced from 6.25 Bitcoin per block to 3.125 Bitcoin per block.
According to the latest CoinShares' report, digital asset investment products saw continued positive sentiment with inflows aggregating to $646 million last week. The year-to-date inflows of $13.8 billion are at their highest ever level.
Overall crypto market capitalization has increased 3.6 percent overnight to $2.68 trillion.
Bitcoin is currently trading at $71,435.43, around 3 percent below the all-time high and implying an overnight gain of 2.9 percent. The leading cryptocurrency has added 3.3 percent in the past week and close to 69 percent in 2024.
The leading cryptocurrency currently commands 52.6 percent of the overall crypto market. The 24-hour trading range was between $72,715.36 and $68,920.41.
Latest data from Farside Investors shows net inflows of $203 million on Friday versus $213.4 million on Thursday. The net cumulative Bitcoin Spot ETF flows surpassed $12.6 billion on April 5.
Ethereum touched a high of $3,669.31 in the past 24 hours. The leading alternate coin has gained 6.7 percent overnight, 3.1 percent in the past week and almost 60 percent in 2024 at its current price of $3,631.73. With a loss of close to 9 percent, Ether is the highest-ranking crypto trade with losses over the 30-day horizon.
The leading altcoin currently commands 16.3 percent of the overall crypto market. 4th ranked BNB (BNB) edged down 0.03 percent overnight and its current price is $587.74. BNB is the highest-ranking crypto to trade with overnight losses.
5th ranked Solana (SOL) shed 0.90 percent overnight and is trading at $179.94. Solana (SOL) is the highest-ranking crypto trade with weekly losses.
6th ranked XRP (XRP) has added 2.4 percent overnight to change hands at $0.6143.
XRP has gained 2.4 percent in the past week and 1.4 percent in the past week. It is the highest ranking crypto to trade with year-to-date losses.
8th ranked Dogecoin (DOGE) slipped 0.73 percent overnight. The highest-ranking meme crypto is currently being traded at $0.2015.
9th ranked Cardano (ADA) added 1.9 percent in the past 24 hours to trade at $0.6054.
10th ranked Toncoin (TON) jumped 9.3 percent overnight. TON is currently trading at $5.86.
82nd ranked Neo (NEO) tops overnight gains with a surge of more than 33 25 percent, followed by 30th ranked dogwifhat (WIF) and 48th ranked Lido DAO (LDO) that have both added more than 13 percent overnight.
72nd ranked Flare (FLR) and 75th ranked eCash (XEC) are the greatest laggards, with overnight decline between 3 and 6 percent.
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