The global cryptocurrency market cap has risen to $3.43 trillion, reflecting a 3.51% increase in the past 24 hours, according to CoinMarketCap. Bitcoin (BTC), the market leader, traded within the $93,840 to $99,488 range over the last day. As of 09:30 AM (UTC), BTC stands at $98,191, up 4.29% over the previous day. The bullish sentiment has lifted most major cryptocurrencies, with notable gainers being COW, AGLD, and PHA, which surged by 38%, 32%, and 27%, respectively.
Key Headlines Driving the Market:
Russia Leverages Bitcoin for Global Trade: The nationโs finance minister confirms the strategic use of BTC in international transactions.
Floki Announces ETP for European Markets: Floki plans to launch a European exchange-traded product (ETP) in early 2025.
Bitcoin's Volatility Hits Record Lows Amid Rally: Reduced price swings mark a steady bull run for the leading cryptocurrency.
Federal Reserve Updates on Interest Rates: Anticipated rate adjustments for early 2024 remain under scrutiny.
BTC Eyes New All-Time High in January: Analysts predict another peak as wallet accumulation persists.
South African MP Advocates BTC Adoption: A proposal suggests Bitcoin as a safeguard for national gold reserves.
Altcoin Momentum Fuels Market Recovery: Positive trends emerge as accumulation continues across multiple wallets.
Cathie Woodโs ARK ETF Adjusts Portfolio: The fund reduces Tesla holdings amidst climbing share prices.
Federal Funds Rate Market Surges: Increased trading volumes point to growing interest in rate adjustments.
Solana's DEX Milestone: Decentralized exchange volumes exceed $100 billion for the second consecutive month.
Notable Market Movements:
Ethereum (ETH) is trading at $3,491.63 (+2.57%), while XRP has climbed to $2.2996 (+2.69%). Binance Coin (BNB) saw a modest rise to $707.20 (+2.85%), and Solana (SOL) recorded a 3.10% gain, reaching $198.45. Dogecoin (DOGE) and Cardano (ADA) also showed upward momentum, increasing by 3.91% and 2.39%, respectively. Among other altcoins, Avalanche (AVAX) soared by 5.66% to $41.06, Chainlink (LINK) rose to $24.87 (+2.77%), and Toncoin (TON) gained 4.60%, trading at $5.913.
The crypto market continues its robust recovery, with rising prices and increasing adoption signaling a positive trajectory for the ecosystem.
