Crypto market rallies with Ethereum leading the charge By Investing.com
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The global cryptocurrency market has experienced a two-day rally, with the total market capitalization increasing by 0.47% to $1.32 trillion as of Monday. This surge was led by , which posted a two-week gain of 25% and a one-month gain of 16%. The price of Ethereum rose to $1,888.56 per token, raising its market cap to $227 billion.
also contributed to the rally, despite trading lower at $34,928.96 per token on Monday. The reduced price is attributed to investor confidence in the potential approval of a US-based Bitcoin ETF by the SEC and the Federal Reserve’s decision not to hike interest rates.
The total crypto market volume surged by 35.37% to $38.73 billion within 24 hours, with DeFi and stablecoins contributing $4.36 billion and $33.18 billion respectively. Meme currencies such as and traded higher at $0.07179 and $0.000008144, respectively, with market caps of $10.17 billion and $4.8 billion.
Other altcoins including ‘s XRP, , , and also saw increases, trading at $0.6825, $0.3457, $41.19, and $4.79, respectively.
This rally follows a strong start to November for the crypto market, which saw most assets recording significant value increases and total market capitalization exceeding $1.3 trillion on Sunday.
Bitcoin broke from the $26,000 range on Sunday, surging beyond $35,000 before settling slightly lower. Ethereum posted a 5% value increase over that weekend, aiming for the $2,000 level once again.
Altcoins such as BNB, Dogecoin, TRON, Polkadot, XRP, Solana, Cardano, Toncoin, and Chainlink also saw gains on Sunday. The Metaverse sector reflected this positive sentiment with , The Sandbox, Decentraland, and ApeCoin showing growth. The DeFi sector’s total value of locked protocols (TVL) increased by $2 billion to reach $43.78 billion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters
The global cryptocurrency market has experienced a two-day rally, with the total market capitalization increasing by 0.47% to $1.32 trillion as of Monday. This surge was led by , which posted a two-week gain of 25% and a one-month gain of 16%. The price of Ethereum rose to $1,888.56 per token, raising its market cap to $227 billion.
also contributed to the rally, despite trading lower at $34,928.96 per token on Monday. The reduced price is attributed to investor confidence in the potential approval of a US-based Bitcoin ETF by the SEC and the Federal Reserve’s decision not to hike interest rates.
The total crypto market volume surged by 35.37% to $38.73 billion within 24 hours, with DeFi and stablecoins contributing $4.36 billion and $33.18 billion respectively. Meme currencies such as and traded higher at $0.07179 and $0.000008144, respectively, with market caps of $10.17 billion and $4.8 billion.
Other altcoins including ‘s XRP, , , and also saw increases, trading at $0.6825, $0.3457, $41.19, and $4.79, respectively.
This rally follows a strong start to November for the crypto market, which saw most assets recording significant value increases and total market capitalization exceeding $1.3 trillion on Sunday.
Bitcoin broke from the $26,000 range on Sunday, surging beyond $35,000 before settling slightly lower. Ethereum posted a 5% value increase over that weekend, aiming for the $2,000 level once again.
Altcoins such as BNB, Dogecoin, TRON, Polkadot, XRP, Solana, Cardano, Toncoin, and Chainlink also saw gains on Sunday. The Metaverse sector reflected this positive sentiment with , The Sandbox, Decentraland, and ApeCoin showing growth. The DeFi sector’s total value of locked protocols (TVL) increased by $2 billion to reach $43.78 billion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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