Crypto rally adds $46 billion to global market cap: here’s why prices are up

2023-10-20 13:36

Crypto prices are rallying, with Bitcoin (BTC) rising more than 5% to near $30k. Total market cap is up more than 4% to $1.17 trillion, with over $46 billion added in the past 24 hours. Ethereum and XRP have also spiked, above $1,600 and $0.52 respectively as ETF talk and Ripple news buoy markets.

The global cryptocurrency market capitalization is up 4.6% to above $1.17 trillion, with about $46.5 billion added to the crypto market cap in the past 24 hours. The global 24-hour trading volume was about $88 billion, according to data from market aggregator CoinGecko.

Why are crypto prices rising?

A spike in crypto prices today is the reason behind the uptick in the total cryptocurrency market cap. As can be seen in the heatmap below, the upward trend for Bitcoin (BTC) and across the altcoin market, has fueled the jump in total market cap.

Crypto market heatmap. Source: Coin360

The injection of volatility in the sector is likely the flip in sentiment amid increased speculation on developments around approval for a Bitcoin ETF. While the recent “fake news” on the topic saw Bitcoin and alts give up gains made in a crazy rally on Monday, the upward move towards the $30k level is on again.

Bitcoin rose to a new high of $29,961 early Friday, spiking towards levels seen on Monday when the benchmark crypto asset touched the $30k mark. BTC price was up more than 5% in the past 24 hours and nearly 12% in the past week, and some analysts are predicting the beginning of a bull market rally.

One #Bitcoin is back to $30,000.

The low is in, the bear market is over. It's 2015/2016 all over again.

— Michaël van de Poppe (@CryptoMichNL) October 20, 2023

The gains come as market experts and crypto analysts point to the growing probability of a Bitcoin ETF. Developments such as BlackRock and other asset managers update their filings to align with SEC feedback.

XRP rallies amid Ripple news

Other than the Bitcoin ETF train, another positive catalyst for today’s market performance could be the news that the SEC has dropped its charges against two top Ripple executives. The case was dismissed on Thursday after the regulator and Ripple reportedly agreed to end the matter.

XRP price rallied to above $0.52, while positivity across the market saw Ethereum break above $1,600.  Solana led the top 10 altcoins, spiking to above $27 with a 24-hour rally of 12%.

The post Crypto rally adds $46 billion to global market cap: here’s why prices are up appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto prices billion cap market hours ethereum

Источник: coinjournal.net

crypto prices → Результатов: 126


Crypto prices rising and sentiment flipping but liquidity & macro picture are ominous

Key Takeaways Crypto prices are rising sharply, with Bitcoin up 20% in the last three weeks The filing of a number of high-profile Bitcoin ETFs has pushed optimism in the market Under the hood, liquidity remains low and some worrisome trends emerge, however The regulatory woes are still present, with Coinbase and Binance facing a […] The post Crypto prices rising and sentiment flipping but liquidity & macro picture are ominous appeared first on CoinJournal.

2023-7-5 15:15


Фото:

Government Save Bank of St. Louis Includes Crypto Cost Following to Inquire about Database

The Federal Reserve Bank of St. Louis will now be tracking the prices of four cryptocurrencies on their research database, according to a June 19 post on the bank’s website. The database, called the Federal Reserve Economic Data (FRED), will now include the prices of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) from

2018-6-22 00:48


Фото:

Bloomberg fatal records Crypto Advertise File From World’s Third Biggest Trade Huobi

Bloomberg Terminal, a paid financial data monitoring service, will now list crypto exchange Huobi’s Cryptocurrency Index, according to a press release shared with Cointelegraph today, June 21. Bloomberg Terminal will also list prices for nine crypto trading pairs, denominated in Tether (USDT), including Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP),

2018-6-21 22:40


Crypto on the Go: Investors Find Value in Cheetah’s New Tracking App

Cheetah Mobile, a Beijing-based app developer, announced on Thursday that it’s releasing an app aimed to make it simpler for investors to monitor their cryptocurrency portfolios. Dubbed Coin Master, the mobile app – available for both iOS and Android – will track the real-time prices of cryptocurrencies on over 100 exchanges and automatically calculate overall losses

2018-6-21 18:14


Фото:

Venezuela monitoring bank accounts for Grupo transactions begin

Regulation The government of Venezuela has started monitoring the bank accounts of its citizens for cryptocurrency-related transactions. Accounts found to contain crypto transactions at prices which the government considers to be “undermining the national currency” will be “severely punished,” Vice President Tareck El Aissami said. He revealed that, as part of Operation Paper Hands, “5

2018-6-15 15:42


Фото:

Markets Update: Crypto Prices Take a Weekend Beating

Cryptocurrency markets are suffering from deep losses today, on June 10, 2018, as most digital assets are seeing 24-hour declines between 9 and 25 percent. The number one position, held by Bitcoin Core (BTC), dropped more than a $1,000 just a few hours ago, from $7,600 to $6,600, but prices have rebounded back to $6,787 […] The post Markets Update: Crypto Prices Take a Weekend Beating appeared first on Bitcoin News.

2018-6-11 02:00

дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Top 3 cryptocurrencies to buy for 5x gains by January 2025

As 2024 comes to an end, crypto investors are realigning their investments targeting top cryptocurrencies to buy for significant gains by January 2025. The urge stems from the renewed optimism around cryptocurrencies with the incoming pro-crypto Donald Trump administration.

Crypto wrap: BTC, ETH, XRP bounce as Horizen (ZEN) spikes 60%

The crypto market witnessed the sharpest declines in months as Bitcoin crashed to lows of $92k on December 20, 2024. However, the flagship cryptocurrency was back at $97k at the time of writing. Meanwhile, Horizen price led top gainers as Ethereum and XRP flipped positive after crashing to key support levels. Per market data from […]

Bithumb faces temporary XRP withdrawal delays as volume increases

Crypto market freefall causes Ripple withdrawal delays on Bithumb. One of the major cryptocurrency exchanges in South Korea, Bithumb, has formally announced that withdrawals of XRP are taking longer than planned because of an unexpected spike in transaction volume. In…

SEC To Approve XRP And Solana Joint ETF? Analyst Says Yes

Analysts from Bloomberg have a positive outlook that a score of cryptocurrency-based exchange-traded funds or ETF would get approval from the US Securities and Exchange Commission (SEC) in 2025. Related Reading: Bitcoin Soars Past $106,000 For A New ATH — What’s Driving The Frenzy? Crypto investors might have a lot of options next year when […]