There was a remarkable rise in the cryptocurrency markets today. Bitcoin (BTC) briefly rose above $58,000, while Ethereum (ETH), Solana (SOL), and other major cryptocurrencies also made significant gains. XRP, in particular, was among the biggest gainers of the day, with an increase of nearly 9%. Global crypto market capitalization increased by 1.10% to $2.14 trillion; However, the global market volume decreased by 18.06% compared to the previous day and was recorded as 56.45 billion dollars. Here are the details...
Impact of ETFs on Cryptocurrency Markets and Bitcoin Price
While the Bitcoin price rose again today, this was due to the ongoing inflows into Bitcoin ETFs. The price of BTC reached $ 57,859.88, increasing by 1.31% compared to the previous day. The lowest and highest values ââduring the day were recorded as $ 56,740.53 and $ 58,532.55, respectively. According to Soso Value data, as of July 12, $190.17 million inflows were made into Bitcoin ETFs. This week, almost $1 billion inflows occurred into Bitcoin products traded on the exchange. The market value of Bitcoin was determined as 1.14 trillion dollars.
Ethereum and Solana Price Movements
Ethereum (ETH) price increased by 1.21% to $3,124.31. Ethereum's 24-hour low and high values ââwere $3,048.51 and $3,157.56, respectively. Transaction fees on the Ethereum network have fallen to the lowest level since May 2024, a sign of low activity and the upcoming ETF launch. The market value of Ethereum was recorded as 375.91 billion dollars. Solana (SOL) increased by 1.55% and reached $139.23, and its lowest and highest values ââduring the day were $134.16 and $140.47, respectively.
XRP and Other Cryptocurrencies$ETH $SOL
XRP price increased by 9.01% in the last 24 hours and reached $0.4982. The 24-hour lowest and highest values ââof the Ripple-backed asset were recorded as $0.4489 and $0.4945, respectively. Dogecoin (DOGE) was trading at $0.108, up 1.74%, while Shiba Inu (SHIB) was up 3.36% at $0.00001667. On the other hand, Pepe coin fell by 0.34% to $0.000008785.
The Most Gaining and Losing Cryptocurrencies of the Day
Ronin (RON) rose 10.50% to $2.15. ORDI price increased by 11.65% and reached $33.90. Bitcoin Cash (BCH) increased by 7.40% to $ 376.98. However, Safe (SAFE) fell 5% to $1.42. While Sei (SEI) decreased by 3.94% to $0.3117, Ethereum Name Service (ENS) decreased by 2.91% to $25.75. Arweave (AR) price decreased by 2.76% to $23.88.
As a result, Bitcoin and Ethereum prices fell by 0.21% and 0.23% respectively on the hourly charts. These tokens are still struggling with market bears and are showing signals that price fluctuations may occur. However, overall, crypto prices continue to remain in the green zone today, giving hope to market participants. As Kriptokoin.com, we emphasize the importance of investors evaluating their investments by carefully examining the projects.
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