Global Crypto Market Update
The global crypto market cap has experienced a slight dip of 0.35%, bringing its total value to $2.32 trillion. This downward trend has affected various digital assets, with only a few of them showing positive numbers at the moment. The FGI is currently neutral, hovering around 49, and there has been a noticeable drop in the 24-hour trading volume.
Bitcoin (BTC) and Ethereum (ETH) are two of the most prominent cryptocurrencies in the market. Despite a minor correction of 0.22%, Bitcoin is holding steady at $63,064.27, with a 2.90% gain over the past week. Ethereum has breached the $3,400 mark and is speculated to be nearing the final approval of a Spot Ether ETF by the US SEC.
Meme coins, on the other hand, have seen a decrease in market cap by 1.7%, with some tokens like BONK showing positive movements. Dogecoin and Shiba Inu are down, while XRP has seen slight gains amidst the ongoing Ripple vs. SEC legal battle.
Other cryptocurrencies like Solana (SOL), TON, and ADA have made significant gains in the past week, with Solana up by 10.07%. Overall, while Bitcoin and Ethereum are facing a downturn, sentiments in the market remain neutral, with hopes pinned on the potential approval of Spot Ether ETFs to drive demand and capital inflow.
It is important to note that the crypto market is highly volatile, and investors are advised to conduct thorough research and risk assessment before making any investment decisions. This article serves as a reference and not as financial advice.