Cryptos market cap rises to $3.23 trillion as BTC rebounds

Joy Agwunobi

Cryptocurrency market capitalisation rose on Wednesday as the price of Bitcoin (BTC-USD) picked up again.  According to data from CoinMarketCap.com, the global crypto market cap has increased over the latest buying momentum.

The total market value of the cryptocurrency industry increased by 2.62 per cent in the past 24 hours to $3.23 trillion. Total trading volume has declined by 23.68 per cent to $197.16 billion.

Further details revealed that the total volume in DeFi is currently $13.28 billion, 6.74 per cent of the total crypto market 24-hour volume. Also, the volume of all stablecoins has reached $181.05 billion, which is 91.83 per cent of the total crypto market 24-hour volume.

Major digital assets were mixed late Tuesday, with Bitcoin (BTC-USD) lower near the $91,000 level. The CoinDesk Market Index, which tracks 126 digital assets, was down 4.3 per cent in the past 24 hours.  The Nasdaq 100 was up 0.35 per cent; the S&P 500 rose 0.48 per cent; and the Dow Jones Industrial Average was up 0.26 per cent.

Trading records revealed that Bitcoin fell 3.5 per cent to $91,480, with the cryptocurrency’s 24-hour trading volume soaring 32.8 per cent to $96.82 billion, according to CoinMarketCap data.

Ethereum (ETH-USD), the second-largest digital asset, fell 4.7 per cent to $3,318. Solana (SOL-USD) was down 3.6 per cent, and BNB (BNB-USD) fell 4.8 per cent. XRP (XRP-USD) was down 2.7 per cent, and Dogecoin (DOGE-USD) fell 4.1 per cent. Cardano (ADA-USD) fell 4.7 per cent.

The US 10-year Treasury yield closed at 4.302 per cent, up from Monday’s close of 4.267 per cent, while the five-year yield rose to 4.193 per cent from 4.176 per cent.