WASHINGTON (dpa-AFX) - Crypto market sentiment continues to be positive amidst U.S. President-elect Donald Trump nominating hedge fund manager Scott Bessent for the post of Treasury Secretary. The Dollar's retreat and the easing in bond yields also supported sentiment. Overall crypto market capitalization is currently at $3.34 trillion, registering an overnight gain of more than a percent.
With a market capitalization of $1.94 trillion, Bitcoin's crypto market dominance is currently at 57.8 percent. Ethereum which enjoys a market capitalization of $420 billion follows with a market share of 12.5 percent. Amidst a renewal in risk appetite, the market capitalization of stablecoins is at $197.8 billion or 5.9 percent of the overall crypto market. The remining market share of 23.8 percent is attributed to the residual altcoins.
In the global ranking of all assets published by companiesmarketcap.com, only Gold (market cap: $18.03 trillion), NVIDIA (market cap: $3.48 trillion) and Apple (market cap: $3.47 trillion) command a market capitalization higher than the overall crypto market capitalization of $3.34 trillion.
Coinmarketcap's Crypto Fear and Greed Index, a barometer of the emotional state of the market is currently at 87, denoting extreme greed.
Bitcoin has gained 0.5 percent overnight to trade at $97,850.19, around 2 percent below the all-time high of $99,655.50 recorded two days ago. The original cryptocurrency touched a high of $98,935.03 and a low of $95788.08 in the past 24 hours. Weekly gains are at 8.8 percent whereas gains over the 30-day horizon exceed 46 percent. Gains in 2024 are at 131 percent.
Bitcoin is currently ranked 7th in the global ranking of all assets published by companiesmarketcap.com. In addition to Gold, NVIDIA and Apple that have a market capitalization that exceeds the overall crypto market capitalization, only Microsoft (market cap: $3.10 trillion) Amazon (market cap: $2.07 trillion) and Alphabet (market cap: $2.03 trillion), command a market capitalization higher than Bitcoin's market capitalization of $1.94 trillion.
Data from Farside Investors showed inflows to Bitcoin Spot ETF products in the U.S declining to $490 million on Friday from $1005 million on Thursday.
Ethereum jumped 4.9 percent in the past 24 hours to trade at $3,484.79, around 29 percent below the previous peak 4891.70 recorded three years ago. Weekly gains exceed 13 percent. Gains over the 30-day horizon are at 41.1 percent whereas year-to-date gains are a little less than 53 percent.
Ethereum is currently ranked 28th in the global ranking of all assets published by companiesmarketcap.com.
Data from Farside Investors on Ethereum Spot ETF products in the U.S. showed net inflows of $91 million on Friday as compared with net outflows of $9 million on Thursday.
4th ranked Solana (SOL) gained 0.6 percent overnight and 3.8 percent in the past week to trade at $249.29 which is 6 percent below the all-time high of $263.83 recorded 2 days ago.
5th ranked BNB (BNB) added 0.7 percent overnight and 6.6 percent in the past week. BNB is currently trading at $657.60, around 9 percent below the all-time high of $720.67 recorded 6 months ago.
6th ranked XRP (XRP) surged 5.3 percent overnight to trade at $1.45, around 62 percent below the all-time high of $3.84 recorded 7 years ago. The cryptocurrency issued by Ripple Labs has jumped more than 27 percent in the past week. Gains exceed 135 percent on a year-to-date basis.
7th ranked Dogecoin (DOGE) edged down 0.03 percent overnight to trade at $0.4185, around 43 percent below the all-time high of $0.7376 recorded 4 years ago. DOGE has added 15.5 percent in the past week and more than 367 percent in 2024.
9th ranked Cardano (ADA) gained 1.5 percent overnight to trade at $1.02. ADA is currently trading 70 percent below the record high of $3.10 touched 3 years ago.
Avalanche (AVAX) jumped to the 10th rank overall with an overnight surge of more than 10.2 percent. AVAX is currently trading at $44.39, around 70 percent below the all-time high of $146.22 touched 3 years ago.
61st ranked The Sandbox (SAND) topped overnight gains with a surge of more than 25 percent. 71st ranked Lido DAO (LDO) followed with gains of 19.7 percent.
42nd ranked Celestia (TIA) and 13th ranked Stellar (XLM) topped overnight losses with declines of more than 6 percent.
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