The global crypto market’s capitalization has seen a 1.17% increase, reaching $1.06 trillion in the last 24 hours. Despite this growth, the total trading volume in the market has experienced a temporary dip, falling to $26.68 billion, reflecting an 8.56% decrease. However, the decentralized finance sector remains strong, contributing $1.8 billion to the 24-hour volume. Stablecoins continue to dominate the market with a volume of $24.57 billion, accounting for 92.07% of the total market volume.
Bitcoin’s dominance in the crypto market continues to assert itself, with its market share currently at 49.09%, marking a modest increase of 0.09% for the day. This highlights Bitcoin’s enduring significance and influence within the broader cryptocurrency market.
Asian stocks surged on Friday, fueled by positive Chinese economic data and the belief that major central banks were nearing the end of their tightening measures.
Now let’s take a look at two cryptocurrencies that are making waves in the market:
1. yPredict (YPRED)
yPredict is an AI-driven Web3 ecosystem that has raised over $3.8 million in funding through its presale. The project offers a suite of AI analytics tools for crypto and SEO analysis and plans to make 80% of its total token supply available in the presale. Token holders will enjoy staking rewards, discounts on yPredict’s AI tools, and free access to its crypto price prediction system.
2. Axie Infinity (AXS)
The native cryptocurrency of Axie Infinity Game, AXS, experienced a rapid surge of over 20% within minutes. The price increase was likely driven by excessive short selling rather than fundamental factors. The surge led to a substantial increase in trading volumes as traders rushed into the market.
In addition to these cryptocurrencies, Bitcoin Cash (BCH) also saw an impressive 13% surge, surpassing the $200 mark. The rise was fueled by solid support at the $186 level and the concurrent rise of Bitcoin.
Overall, the crypto market continues to show signs of growth and potential, with various cryptocurrencies making significant moves. It’s important to stay informed and keep an eye on these developments to make informed investment decisions.
Hot Take: The Crypto Market Shows Resilience and Potential for Growth
The global crypto market has experienced a 1.17% increase in capitalization, reaching $1.06 trillion. Despite a temporary dip in trading volume, the decentralized finance sector remains strong, contributing $1.8 billion. Bitcoin continues to dominate the market with a 49.09% share, highlighting its enduring significance. Two cryptocurrencies making waves are yPredict (YPRED), offering AI analytics tools, and Axie Infinity (AXS), experiencing a rapid surge driven by short selling. Bitcoin Cash (BCH) also saw a 13% surge, surpassing $200. These developments showcase the resilience and potential for growth in the crypto market. Stay informed and monitor these opportunities for informed investment decisions.
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