The global cryptocurrency market hit a $3.36 trillion capitalization, showing resilience despite price swings. Trading stayed active, with a 24-hour volume of $198.32 billion. Bitcoin ($BTC) remained the leader, holding 57.9% of the market share. Phoenix, a crypto analytical platform, shared the details of the crypto market’s daily summary through its X account. Â
Bitcoin ($BTC) Maintains Strength Amid Crypto Movements
Bitcoin (BTC) recorded a price of $98,242 and a trading volume of $193.44 billion in the past 24 hours, indicating robust investor activity. This performance further underscored its influence, as $BTC accounted for most of the market’s liquidity.
Ethereum ($ETH) trading at $3,407, became a key player in decentralized finance (DeFi) with a 12.2% market dominance. Its ecosystem remained integral to blockchain innovations. Gas fees stood at 9 gwei, reflecting moderate network activity.
Volatile Coins Drive Significant Price Swings
Several altcoins experienced notable price fluctuations, making them attractive to short-term traders. Significantly, $SAND, $MANA, and $XTZ were standout performers among altcoins. $SAND exhibited a 49.79% price bounce, while MANA gained 23.62%. $XTZ saw a price bounce of 13.93%, while $GALA recorded a 26.13% price bounce
Liquidations across major cryptocurrencies highlighted the risks associated with high-leverage trading. Ethereum experienced the highest liquidation value, with $44.08 million wiped out, followed by $DOGE and $BTC, gaining $35.99 million and $28.30 million, respectively. Ripple ($XRP) also faced substantial liquidations, recording $18.98, underscoring the importance of market caution.
The crypto market remains dynamic, with substantial activity and fluctuations defining the trading landscape. From Bitcoin’s steady dominance to notable price movements among altcoins, traders should stay informed about evolving market trends.
