WASHINGTON (dpa-AFX) - Cryptocurrencies jumped in the past 24 hours as markets perceived China's stimulus measures to inflate digital assets significantly. The deferment of the payment deadline by the Mt. Gox cryptocurrency exchange also boosted market sentiment.
A press release by Mt Gox cryptocurrency exchange has stated that the Rehabilitation Trustee has with the permission of the court, changed the deadline for the repayments from October 31, 2024, to October 31, 2025. The move has temporarily spared Bitcoin from potential selling pressure.
Amidst the positive sentiment, crypto market capitalization has increased to $2.25 trillion. It was $2.19 trillion a day earlier.
Meme category market capitalization jumped 2.5 percent overnight to $53.1 billion implying a market share of 2.4 percent. 83rd ranked Mog Coin (MOG) recorded overnight gains of more than 13 percent. Political memes category recorded an overnight spike of 9.1 percent in market capitalization.
The AI & Big Data category recorded an overnight spike of more than 3 percent, lifting market capitalization to $36.4 billion or 1.6 percent of the overall crypto market. 52nd ranked The Graph (GRT) which gained more than 7 percent topped overnight gains amongst the AI & Big Data cryptos ranked within the top 100 overall.
Bitcoin is currently trading at $65,322.46 implying overnight gains of 4.4 percent, weekly gains of 2.9 percent and year-to-date rally of 54.5 percent. At its current price, the leading cryptocurrency is trading just 11 percent below the all-time high recorded in March 2024.
Data from Farside Investors on Bitcoin Spot ETF products in the U.S. showed a net inflow of $253.6 million on Friday versus a net outflow of $81.1 million on Thursday. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with inflows of $117.1 million followed by Ark 21Shares Bitcoin ETF (ARKB) that received inflows of $97.6 million.
Ethereum rallied 4.2 percent in the past 24 hours to trade at $2,565.10, around 48 percent below the all-time high. Amidst weekly gains of 3.6 percent, the leading altcoin's year-to-date gains are now above 12 percent.
Data from Farside Investors on Ethereum Spot ETF products in the U.S. showed a net outflow of $0.1 million on Friday versus net inflow of $10.1 million a day earlier. 4th ranked BNB (BNB) gained 1.6 percent overnight and 1.1 percent in the past week to trade at $581.66. Year-to-date gains exceed 86 percent.
5th ranked Solana (SOL) added 4.2 percent overnight and in the past week. SOL is currently trading at $153.51 implying year-to-date gains of 51.2 percent.
7th ranked XRP (XRP) added 1.4 percent overnight but has lost 0.12 percent in the past week to trade at $0.5398. The cryptocurrency issued by Ripple Labs is currently saddled with year-to-date losses of 12.2 percent.
Dogecoin (DOGE), ranked 8th overall has added 1.4 percent in the past 24 hours to trade at $0.1132.
9th ranked TRON (TRX) has declined 1.64 percent overnight limiting weekly gains to 2.7 percent. TRX is currently trading at $0.1602.
10th ranked Toncoin (TON) slipped 0.3 percent overnight but has edged up 0.15 percent in the past week to trade at $5.28.
61st ranked Worldcoin (WLD) topped overnight gains among the top 100 cryptocurrencies with a gain of 16.3 percent. 66th ranked Ethena (ENA) followed with gains of 16.1 percent.
57th ranked Popcat (POPCAT) topped overnight losses with a decline of 7.4 percent. 80th ranked First Neiro on Ethereum (NEIRO), 9th ranked TRON (TRX) and 24th ranked Bittensor (TAO) are the only other cryptocurrencies among the top 100 to trade with overnight losses of more than a percent.
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