Today’s global digital asset market has experienced a mild surge over the previous day, with the broader market cap seeing a 2.22% rise to $3.58 trillion.
Also, its trading volume rose 5.75% to $163.87 billion, signifying a recent increase in market activity. The above green figures placed the fear and green index at 75, highlighting investors hold strong optimism in the market.
Bitcoin crossed above $100k
Today, Bitcoin saw a further rise, which enabled it to move beyond $100,000, an action that confirms its continued bullishness. It is currently trading at $102,066.20, up 2.74% over yesterday. The rebound started on Wednesday following a positive inflation report that boosted investors’ risk appetite.
Altcoins witness mixed performance
Today the altcoin market has experienced different trajectories with multiple assets indicating impressive gains while others encounter drops and even consolidations.
XRP has continued displaying its outstanding performance, with a 15% rise that enabled it to cross the $3 mark. It is currently trading at $3.27 at press time.
HBAR, DASH, and LTC have also gained visibility due to their incredible performance today. Their prices rose 10% each over yesterday showcasing their growth potential.
HBAR is currently trading at $0.3713, up by 10%. DASH price stands at $43.51, up 10%. LTC is also hovering at $136.83, up 10% over yesterday.
Meanwhile, Ethereum has caught attention with its stagnation. The second largest cryptocurrency is still stuck at around $3,300. Its current struggles are majorly pushed by a return to inflationary supply levels. The network’s supply has been rising since April last year; an incident which is the opposite of the deflationary environment the token witnessed following its Merger. However, the stagnation underscores the dynamic nature of the digital asset market.
Small-cap tokens are today’s top gainers
Small-cap cryptocurrencies are the top performers in today’s crypto market. Onyxcoin (XCN) is the top gainer, with over 86.6% rise over the previous day.
Butthole (BUTTHOLE) became the second performer with more than 75.8% upsurge. It was followed by the Department of Gov. Efficiency (DOGE) whose value saw a 56.3% increase.
Flork Cto (FLORK) followed closely with a price jump of 53.5%. Lastly, Token Metrics AI (TMAI) closed the list with a remarkable rise of 46.6% over yesterday.
Latest news in the crypto market
The crypto space is always filled with crucial developments involving key conferences, regulatory announcements, technological evolutions, and market dynamics. Here are the highlights of today’s key events in the market.
- Trump is allegedly contemplating creating a strategic reserve that would include US-based virtual currencies, including XRP, SOL, USDC, and BTC. The market is waiting for an official announcement as President Trump prepares to assume office following his upcoming inauguration.
- Besides that, Tether announced a plan to launch USDT0, a multi-chain version of the USDT stablecoin, to redefine multi-chain transfers by removing traditional bridging needs while fully backed by USDT.
- Meanwhile, Coinbase rolled out a Bitcoin-backed loan offering that allows American customers to borrow up to $100,000 in USDC using their Bitcoin as collateral. Coinbase launched this new investment service through a partnership with Morpho Labs.
- Lastly, crypto wallet provider Phantom secured $150 million from participants including Variant Fund, a16z, Paradigm, and Sequoia capital. Phantom said it will use the funds to introduce new trading features such as streamlined peer-to-peer payments, social discovery, and others.
