WASHINGTON (dpa-AFX) - Cryptocurrencies are trading on a negative note even as world markets speculate on the potential impact of the policies of the new U.S. govt. The Securities and Exchange Commission's recent announcement regarding the launch of a crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets supported sentiment and limited losses. Bitcoin traded firmly above the $101k level during the past 24 hours.
Anxiety ahead of Bank of Japan's interest rate decision also weighed on markets. Bank of Japan is widely expected to increase rates to 0.50 percent from 0.25 percent currently.
Prices of XRP (XRP) and Solana (SOL) also bore the brunt of a clarification by the Chicago Mercantile Exchange which denied any official decisions about launching futures contracts linked to the two tokens.
Overall cryptocurrency market capitalization is currently at $3.52 trillion implying an overnight decline of 2.7 percent. The 24-hour trading volume has dropped 11.9 percent to $149 billion.
Among the top 100 cryptocurrencies, only 8 are trading with gains on an overnight basis. Likewise, only 20 are trading with gains on a weekly basis whereas 21 alone are trading with gains over the 30-day period.
With gains of close to half a percent, 19th ranked UNUS SED LEO (LEO) is the highest-ranking crypto to trade with gains on an overnight basis.
In the global ranking of all assets as per market capitalization published by companiesmarketcap.com, Bitcoin continues to maintain the 7th rank overall. Amidst an overnight decline of 1.5 percent, Ethereum has however slipped to the 28th position in the overall ranking.
Bitcoin has dropped 1.6 percent overnight to trade at $102,312.11, around 6 percent below the all-time high. BTC has however gained 3.2 percent in the past week and 6.9 percent over the past 30 days. The 24-hour trading range was between $105,110.68 and $101,257.80.
Data from Farside Investors showed that Bitcoin Spot ETF products in the U.S. recorded inflows of $249 million on Wednesday versus $803 million a day earlier. iShares Bitcoin Trust (IBIT) received inflows of $344 million. Grayscale Bitcoin Trust ETF (GBTC) witnessed outflows of $48 million followed by Bitwise Bitcoin ETF (BITB) that recorded outflows of $35 million. ARK 21Shares Bitcoin ETF (ARKB) also recorded outflows of $13 million.
Ethereum has slipped 1.6 percent in the past 24 hours to trade at $3,233.98, around 34 percent below the previous peak recorded in November 2021. Weekly losses are close to 3 percent. Ether traded between $3,310.89 and $3,184.07 in the past 24 hours.
Latest data revealed that inflows to Ethereum Spot ETF products in the U.S. edged down to $71 million from $74 million a day earlier.
3rd ranked XRP (XRP) slipped 2.7 percent overnight to trade at $3.09, around 20 percent below the all-time high touched in January 2018. The cryptocurrency's weekly losses are close to 7 percent.
The price of 5th ranked Solana (SOL) decreased 5.7 percent overnight. With weekly gains of 17.2 percent, SOL is currently trading at $246.22, around 16 percent below its record high on January 19, 2025.
6th ranked BNB (BNB) declined 1.5 percent overnight and 3.3 percent in the past week at its current trading price of $685.34. BNB is currently trading 14 percent below the all-time high touched on December 4, 2024.
7th ranked Dogecoin (DOGE) declined 3.1 percent overnight to trade at $0.3502. Having shed 7.6 percent in the past week, DOGE is trading 53 percent below the previous peak scaled in May 2021.
9th ranked Cardano (ADA) erased 2.1 percent overnight to trade at $0.973. ADA is currently trading 69 percent below the record high touched in September 2021.
10th ranked TRON (TRX) erased 2.9 percent overnight to trade at $ 0.2467. TRX has added 3.1 percent in the past week. The trading price is 44 percent below the cryptocurrency's all-time high recorded on December 4, 2024.
72nd ranked KuCoin Token (KCS) topped overnight gains with a surge of 5.5 percent. 56th ranked GateToken (GT) and 63rd ranked XDC Network (XDC) followed with gains of more than 4 percent.
93rd ranked ai16z (AI16Z) topped overnight losses with a decline of 21.6 percent. 74th ranked Fartcoin (FARTCOIN) slipped 17.8 percent followed by 25th ranked OFFICIAL TRUMP (TRUMP) that lost 16.1 percent over the past 24 hours.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
