According to CoinDesk, crypto assets experienced a rally during the European morning, with bitcoin increasing around 1.5% over 24 hours to $66,300 and ether by 2% to $3,600. The broader digital asset market, as indicated by the CoinDesk 20 Index, rose about 1%, with Avalanche's AVAX being the biggest gainer at just under 3.9%. XRP and Solana's SOL also saw increases of 1.5% and 1.3% respectively. SOL, considered a close competitor to ether in the altcoin market, may be experiencing a downside as traders anticipate the listing of spot ETH ETFs in the U.S., an event expected in the coming months.
The VanEck Bitcoin ETF started trading on the Australian Securities Exchange, marking the first exchange-traded fund to list on the country's largest stock exchange. The ETF rose 1% from its opening price to end the day at A$20.06 ($13.4) after trading 99,791 shares. The ETF is a feeder fund that provides exposure to bitcoin by investing in the company's Bitcoin Trust, a U.S. ETF listed on Cboe. Earlier this month, the first Australian spot bitcoin ETF, Monochrome Asset Management’s IBTC, debuted on Cboe Australia, a smaller rival to ASX.
Tokens associated with AI technology have surged as much as 35% in the last 24 hours. Fetch.ai’s FET, SingularityNET’s AGIX and Ocean Protocol’s OCEAN led the advance while the sector added 15% on average. This growth followed gains in chipmaker Nvidia's stock, which has risen 5% since Monday, making it the world's most valuable company. Edward Wilson, an analyst at Nansen.ai, stated that the AI sector is hot in both traditional markets and crypto, and it's not surprising that AI tokens are rallying following Nvidia's success.
