Stay informed with our daily, concise roundup of blockchain and cryptocurrency news, delving into the latest developments that may have slipped under the radar of mainstream headlines. Discover the reasons behind today’s crypto market surge after a brief correction period.
Over the past 24 hours, the total market capitalization of cryptocurrencies has witnessed a significant increase, reaching $2.694 trillion according to CoinGecko. Among the top 100 coins by market cap, only a few are experiencing minor declines, with Ribbon Finance (RBN) being the most notable with an 8% decrease. Conversely, Dogwifhat (WIF) has surged by 18% to $2.77, emerging as the top gainer in this category.
Zooming in on the top 10 coins, all are displaying positive momentum. Avalanche (AVAX) leads the pack with an 11.5% rise to $60.61, followed by Solana (SOL) climbing 8.5% to $202.62. Bitcoin (BTC) is up by 2.3% to $67,889, while Ethereum (ETH) has increased by 1.2% to $3,590.
CEO of Crypto.com, Kris Marzsalek, attributes the recent fluctuations in Bitcoin’s price to a healthy market correction, primarily fueled by inflows from Bitcoin ETFs. Additionally, Solana is emerging as a favored platform for meme coins, with approximately $100 million flowing into new Solana-based meme coins in the past 72 hours.
In other news, Binance CEO Richard Teng predicts that Bitcoin will surpass $80,000 as institutional investors continue to pour money into cryptocurrency exchange-traded funds (ETFs). Teng notes that the recent launch of spot Bitcoin ETFs in the US has attracted institutional interest, setting the stage for further growth.
Bitget Wallet has unveiled its official ecosystem token, BWB, alongside a BWB Points airdrop event aimed at incentivizing community participation. The six-week campaign includes rewards for loyal users and tasks for newcomers, with the goal of fostering engagement and expanding the platform’s ecosystem.
Meanwhile, the Australian Federal Police (AFP) continue their crackdown on crypto-related crimes, with a recent case involving a money launderer accused of transferring illicit funds using cryptocurrencies. Despite challenges in legislation and crypto literacy, the AFP remains committed to combating illicit activities in the crypto space.
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