WASHINGTON (dpa-AFX) - Cryptocurrencies are currently trading in the green after recent volatility caused by political developments, especially the martial law chaos in South Korea and the budget related turmoil in France. Hopes of a new crypto-friendly administration in the U.S. supported sentiment for digital assets even as markets wait for the speech by Fed Chair Jerome Powell on Wednesday for potential clues on interest rates.
Overall crypto market capitalization has increased to $3.54 trillion.
Bitcoin has gained 1.4 percent overnight to trade at $95,779.94, around 4 percent below the all-time high. The original cryptocurrency traded between $97,026.40 and $93,629.56 in the past 24 hours. Weekly gains are a little less than 2 percent whereas gains over the 30-day horizon are close to 39 percent. Gains in 2024 have increased to 126.5 percent.
Data from Farside Investors showed inflows of $676 million to Bitcoin Spot ETF products in the U.S on Tuesday versus inflows of $354 million on Monday.
iShares Bitcoin Trust (IBIT) topped with inflows of $693 million whereas Ark 21Shares Bitcoin ETF (ARKB) topped outflows with $94 million.
Ethereum rallied 3.6 percent in the past 24 hours to trade at $3,702.77, around 24 percent below the previous peak. Weekly gains are at 6.2 percent. Gains over the 30-day horizon are almost 50 percent whereas year-to-date gains are a little more than 62 percent.
Data from Farside Investors on Ethereum Spot ETF products in the U.S. showed net inflows of $133 million on Tuesday versus $24 million on Monday.
Fidelity Ethereum Fund (FETH) recorded inflows of $74 million followed by iShares Ethereum Trust ETF (ETHA) that received inflows of $65 million. Grayscale Ethereum Trust ETF (ETHE) witnessed outflows of $6.4 million.
3rd ranked XRP (XRP) has slipped 1.5 percent overnight to trade at $2.55, around 34 percent below the all-time high. The cryptocurrency issued by Ripple Labs is holding on to gains of more than 78 percent in the past week. Gains exceed 315 percent on a year-to-date basis.
BNB (BNB) jumped to the 5th rank overall with an overnight surge of 20.7 percent overnight. BNB is holding on to gains of 23.4 percent in the past week and 146.7 percent in 2024. BNB is currently trading at $633.61 after touching an all-time high of $793.35 earlier in the trade.
6th ranked Solana (SOL) added 4 percent overnight but has slipped close to 2 percent in the past week to trade at $231.89. SOL is currently trading around 12 percent below its record high.
7th ranked Dogecoin (DOGE) too gained 1.7 percent overnight to trade at $0.4105. DOGE has gained 4.5 percent in the past week and more than 358 percent in 2024. DOGE is trading 44 percent below the previous peak.
8th ranked Cardano (ADA) gained 1.6 percent overnight to trade at $1.20. ADA is currently trading 61 percent below the record high till date.
TRON (TRX) jumped to the 10th rank overall with an overnight surge of more than 58 percent. TRX has added 84 percent in the past week and 244 percent in 2024. The cryptocurrency which touched an all-time high earlier in the trade is currently trading at 0.3707 which is 16 percent below the peak.
10th ranked TRON (TRX) topped overnight gains with a surge of more than 58 percent. 62nd ranked The Sandbox (SAND), 90th ranked ApeCoin (APE), 96th ranked CurveDAO Token (CRV) and 5th ranked BNB (BNB) have all gained more than 20 percent in the past 24 hours.
38th ranked Algorand (ALGO) slipped close to 10 percent in the past 24 hours followed by 15th ranked Stellar (XLM) that lost 3.2 percent. 75th ranked IOTA (IOTA), 17th ranked Hedera (HBAR) and 92nd ranked Helium (HNT) are the only other cryptocurrencies among the top 100 to trade with overnight losses of more than a percent.
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