Why is crypto up today?
The crypto market has seen a significant rise over the past 24 hours. The global cryptocurrency market capitalization increased by 7.5%, totaling $2.75 trillion.
At the time of writing on Tuesday morning (UTC), only four coins among the top 100 are down.
Arweave (AR) fell the most among these four: 7.3% to $45.27.It is followed by GALA’s 3%, Zebec Protocol (ZBC)’s 2%, and Jupiter (JUP)’s less than 1%.
On the other hand, the best performer in this category today is Lido DAO (LDO). It’s up 30.5% to $2.3. Pyth Network (PYTH) and Ethena (ENA) are up over 20%.
Nearly 30 other coins have recorded double-digit increases. Furthermore, all top 10 coins per market cap are up today.
At the top of this category we find Lido Staked Ether (STETH) and Ethereum (ETH). They are up 18.4% each. Dogecoin (DOGE) is the next best performer, having gone up 8.5% to $0.16348.
Solana (SOL)’s is the smallest increase. It’s up 3.2% to $182.93. Bitcoin (BTC) appreciated 6.6%, surpassing the $70,000 mark again, now trading at $71,163. Bitcoin has also achieved all-time highs against local currencies in several countries across Asia and South America.
Meanwhile, Ethereum, as said, went up 18.4%, currently changing hands at $3,659. The odds for Ethereum exchange-traded fund (ETF) approval seem to have increased, as the US Securities and Exchange Commission (SEC) asked exchanges to update their spot Ethereum ETF filings.