The global cryptocurrency market cap now stands at $2.25T, reflecting a modest increase of 0.45% over the last day, as per data from CoinMarketCap. This upward trend highlights the resilient nature of digital currencies in the current economic landscape. Bitcoin (BTC), the leading cryptocurrency by market cap, has been oscillating between $63,751 and $65,986 over the past 24 hours.
As observed at 09:30 AM (UTC) today, BTC is trading at $65,751, indicating a gain of 2.88%. Notably, most major cryptocurrencies are experiencing positive movements. Market outperformers include HMSTR, REI, and W, showcasing remarkable increases of 581%, 22%, and 19%, respectively. In notable news that has recently impacted the market: U.S.
Bitcoin Spot ETFs reported a staggering $366 million in net inflow yesterday, marking an impressive streak of six consecutive days of inflows. This increasing investor interest highlights growing confidence in Bitcoin as an asset. In a strategic move, Morocco has launched its Digital Morocco 2030 Strategy, which involves a significant investment of $1.1 billion aimed at fostering digital innovation and enhancing the national economy.
Federal Reserve Governor's supportive stance on the recent interest rate cut was articulated amid ongoing economic adjustments, setting a promising tone for the crypto market. QCP Capital observes that the confluence of a favorable macro environment and shifts in policy have effectively boosted the cryptocurrency market, paving the way for further adoption. In the UAE, cryptocurrency inflows have surpassed an impressive $30 billion, with DeFi adoption consistently outpacing the global average, further indicating a lively market. In the U.S., Vice President Harris has released an 80-page economic plan, though it minimally mentions digital assets.
Moreover, Bitcoin ETF demand is witnessing a surge as China considers a substantial $142 billion capital injection aimed at revitalizing its economy. Market movers include: - ETH: $2657.97 (+1.39%) - BNB: $606.5 (+2.00%) - SOL: $158 (+4.43%) - XRP: $0.5893 (+0.20%) - DOGE: $0.12369 (+8.81%) - TON: $5.877 (+1.05%) - ADA: $0.4056 (+2.66%) - TRX: $0.1546 (+1.78%) - AVAX: $29.95 (+7.19%) - SHIB: $0.00001951 (+15.65%) On Binance, the top gainers include: - HMSTR/USDT (+581%) - REI/USDT (+22%) - W/USDT (+19%) These developments emphasize the dynamic nature of the cryptocurrency market, showcasing both significant growth and strategic initiatives by various countries and organizations to bolster digital asset adoption and innovation..