WASHINGTON (dpa-AFX) - Cryptocurrencies are trading firmly in the green as world markets ushered in the new year. Hopes of more crypto-friendly policies and initiatives from the new regime in the U.S. boosted market sentiment.
Overall crypto market capitalization increased close to 4.6 percent overnight to the level of $3.4 trillion. None of the top 100 cryptocurrencies are trading with losses on an overnight basis. The 24-hour trading volume stood at $111.7 billion which is expected to increase further over the coming days with the unwinding of the holiday season.
Market capitalization of the not-so-volatile stablecoins edged down 0.03 percent to $211.3 billion or 6.2 percent of the overall crypto market.
Market capitalization of the Decentralized Finance (DeFi) category increased 8.6 percent to $155.0 billion or 4.6 percent of the overall crypto market.
Meme category market capitalization gained 9.8 percent overnight to $104.6 billion implying a market share of 3.1 percent.
The AI & Big Data category recorded an overnight addition of 12.8 percent, lifting market capitalization to $55.5 billion or 1.6 percent of the overall crypto market.
Bitcoin (BTC) which closed at $93,429.20 on December 31 is currently trading at $96,654.27, implying year-to-date gains of 3.5 percent. The leading cryptocurrency is trading around 11 percent below the all-time high. Overnight gains are at 3.9 percent whereas gains exceed 1 percent on a weekly basis. Amidst the tussle between bulls and bears, Bitcoin traded between $96,672.52 and $93,016.43 in the past 24 hours.
Data from Farside Investors showed inflows of $5 million to Bitcoin Spot ETF products in the U.S. on Tuesday. Outflows were $415 million a day earlier.
Ethereum (ETH) which was last traded at $3,332.53 on December 31 is currently trading at $3,462.53, implying year-to-date gains of 3.9 percent. The leading alternate coin is trading 29 percent below the peak recorded in November 2021. Ether has rallied 4.3 percent in the past 24 hours and 2.8 percent on a weekly basis. Ether traded between $3,470.90 and $3,317.44 in the past 24 hours.
Ether Spot ETF products in the U.S. saw inflows of $36 million on Tuesday versus outflows of $56 million a day earlier.
3rd ranked XRP (XRP) jumped 13.8 percent overnight to trade at $2.39, around 38 percent below the all-time high touched in January 2018. The cryptocurrency was last traded at $2.0801 in December 31, implying year-to-date gains of 14.9 percent. Gains exceed 9.4 percent on a weekly basis.
5th ranked BNB (BNB) added 0.72 percent overnight and 2.2 percent over the past week. BNB which was last traded at $700.99 on December 31 is currently trading at $710.79, implying year-to-date gains of 1.4 percent. BNB is trading 10 percent below the all-time high touched on December 4, 2024.
Solana (SOL) ranked 6th overall surged 9.1 percent overnight and 9.3 percent in the past week to trade at $206.98. Given the last traded price of $189.26 on December 31, year-to-date gains are close to 9.4 percent. SOL is currently trading at $206.98, around 22 percent below its record high on November 23, 2024.
7th ranked Dogecoin (DOGE) rallied 9.5 percent overnight and 8.2 percent over the past week to trade at $0.3429. The leading meme coin which closed trading on the last day of 2024 at $0.3157 is currently trading at $0.3429, adding more than 8.6 percent till date in 2025, DOGE is now trading 54 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) jumped 14.3 percent overnight to trade at $0.9624. ADA is currently trading 69 percent below the record high touched in September 2021. From the level of $0.8438 at close of 2024, ADA has now rallied to $0.9624, implying year-to-date gains of 14.1 percent.
10th ranked TRON (TRX) gained 3.2 percent overnight to trade at $0.2607. Gains over the past 7 days exceed 3.7 percent. The trading price is 41 percent below the cryptocurrency's all-time high recorded on December 4. TRON's year-to-date gains are at 2.6 percent.
81st ranked Fartcoin (FARTCOIN) topped overnight gains with a surge of more than 35 percent. 98th ranked DeXe (DEXE) followed with gains of 30.6 percent overnight.
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