WASHINGTON (dpa-AFX) - Cryptocurrencies extended gains in the past 24 hours as crypto markets continued to speculate on industry-friendly initiatives likely to be announced by President Trump. Recent data from the U.S. that showed softer-than-expected levels of core inflation, producer price inflation and retail sales which is seen increasing the headroom available to the Federal Reserve to ease monetary policy, also contributed to positive market sentiment.
Market capitalization of cryptocurrencies recoded an overnight addition of 2.8 percent. Aggregate crypto market capitalization is currently at $3.6 trillion. This compares with market capitalization of $18.38 trillion commanded by Gold (ranked 1st), $1.74 trillion enjoyed by Silver (ranked 9th) and $237.9 billion attributed to Platinum (ranked 49th) in the global rankings published by companiesmarketcap.com.
In the said ranking of all assets as per market capitalization published by companiesmarketcap.com, Bitcoin maintained the 7th rank overall whereas Ethereum jumped two notches to the 25th rank overall, compared to the levels a day ago.
At its current trading price of $102,677.47, Bitcoin commands a market capitalization of $2.03 trillion. Ahead of Bitcoin in the global ranking are Apple (market cap $3.43 trillion), NVIDIA (market cap $3.27 trillion), Microsoft (market cap $3.16 trillion), Alphabet (market cap $2.37 trillion) and Amazon (market cap $2.32 trillion). Saudi Aramco follows Bitcoin with a market capitalization of $1.82 trillion.
Bitcoin touched a high of $102,914.31 in the past 24 hours, a level last touched on December 18. Bitcoin had touched a high of $100,781.59 on January 16 and $100,697.23 on January 15.
Bitcoin gained 3.9 percent overnight to trade at $102,677.47, around 5 percent below the all-time high. BTC has added 9.6 percent in the past week. The leading cryptocurrency traded between $102,914.31 and $97,364.44 in the past 24 hours.
Inflows to Bitcoin Spot ETF products in the U.S. on Thursday were $626 million as compared with $755 million a day earlier. iShares Bitcoin Trust (IBIT) topped with inflows of $528 million followed by Ark 21Shares Bitcoin ETF (ARKB) that recorded inflows of $155 million.
Ethereum rallied 2.8 percent in the past 24 hours to trade at $3,412.44 around 30 percent below the previous peak recorded in November 2021. Weekly gains are 5.3 percent. Ether traded between $3,436.28 and $3,265.68 in the past 24 hours. Ethereum Spot ETF products in the U.S. recorded inflows of $167 million versus $60 million a day earlier.
3rd ranked XRP (XRP) slipped 2.6 percent overnight to trade at $3.23, around 16 percent below the all-time high touched in January 2018. The cryptocurrency's weekly gains however exceed 41 percent. The price movement came amidst the Securities and Exchange Commission filing its opening brief in its appeal against Ripple Labs.
The price of 5th ranked Solana (SOL) surged 4.9 percent overnight. With weekly gains of 17.4 percent, SOL is currently trading at $219.55, around 17 percent below its record high on November 23, 2024.
6th ranked BNB (BNB) added 1.8 percent overnight and 4.1 percent in the past week at its current trading price of $721.50. BNB is currently trading 9 percent below the all-time high touched on December 4, 2024.
7th ranked Dogecoin (DOGE) jumped 8.3 percent overnight to trade at $0.4114. Having leaped 25.6 percent in the past week, DOGE is trading 44 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) gained 1.9 percent overnight to trade at $1.11. ADA is currently trading 64 percent below the record high touched in September 2021.
10th ranked TRON (TRX) added more than 3 percent overnight and 2.1 percent in the past week to trade at $ 0.2459. The trading price is 44 percent below the cryptocurrency's all-time high recorded on December 4, 2024.
90th ranked SPX6900 (SPX) topped overnight gains with a surge of 34.3 percent. 44th ranked OKB (OKB) followed with gains of 22.2 percent. Eleven of the top 100 cryptocurrencies are trading with overnight gains of more than ten percent.
86th ranked ai16z (AI16Z) topped overnight losses with a decline of 16.2 percent. 58th ranked Virtuals Protocol (VIRTUAL) followed with losses of 4.8 percent. AI16Z and virtual are the only two cryptocurrencies among the top 100 to trade with overnight losses of more than a percent.
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