Bitcoin holds $34.4K
By Laxmikant Khanvilkar
Leading virtual digital assets (VDAs), are trending higher this morning and are looking to consolidate their recent gains, as the launch of an exchange-traded fund tracking bitcoin seems imminent while geopolitical concerns in the Middle-East has lifted their safe-haven appeal.
Price of Bitcoin (BTC), the largest cryptocurrency by market capitalisation, held near $34,500. It is currently resting at $34,470.29 up 1.12%.
Ethereum (ETH), the second largest crypto in market value, rose 0.87% at $1,794.13.
The trading volumes for the world’s largest cryptocurrency hit their highest levels since March. As per The Block’s data dashboard, the seven-day moving average for spot exchange volumes across multiple exchanges hit $24.12 billion on Thursday and $23.98 billion on Friday, respectively. In comparison, Bitcoin trading volume on exchanges was at $11.02 billion on the first day of the month.
Bitcoin prices have doubled this year which resulted in its market dominance reaching at 30 month high.
As witnessed in the last week, most other altcoins have accumulated gains tracking Bitcoin. Solana’s SOL, Cardano ADA, Polygon MATIC, are some of the gainers and continue to trend higher.
The global crypto market cap increased 1.34% to $1.27 tn, over the last 24-hours. Simultaneously, the total crypto market volume gained 6.16% to $25.89 bn. The total volume in DeFi is currently $2.65 bn and all stablecoins $22.37 bn, representing 10.26% and 86.43% respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 53.06%, up 0.04% over the day.
IC15 index, the barometer of top fifteen tokens, rose 1.38% to 42,458.20.
Meanwhile, the US stock futures were trading higher this morning, after finishing last week at multi-month lows. Investors are busy focusing earnings reports and economic data. That should add volatility in crypto assets.
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