The crypto market capitalization has seen a small decrease, dropping by 1.66% in the last 24 hours to reach $1.25 trillion. The trading volume of the crypto market also decreased by 7.06% during the same period to $46.96 billion. Within the crypto space, decentralized finance (DeFi) plays a significant role, accounting for 9.58% of the total market volume with a 24-hour trading volume of $4.5 billion. Stablecoins, on the other hand, make up a substantial portion of the trading volume at 88.76%, with a total volume of $41.68 billion. Bitcoin’s market dominance currently stands at 53.03%, showing a slight decrease of 0.19%.
In Asian markets, shares followed the positive trend of Wall Street futures on Friday, boosted by Amazon’s earnings report. Meanwhile, the bond market continued its rally amid signs of easing US inflation. Investors are keeping a close eye on US data scheduled to be released later in the session, which could show a monthly growth in core inflation for September and potentially lower the annual inflation rate.
In European markets, the European Central Bank maintained interest rates as expected, causing the Euro to briefly dip to a two-week low. The US Dollar remained above the critical threshold of 150 Yen, with traders watching for any signals ahead of the upcoming Bank of Japan policy meeting.
Floki blockchain is expanding its ecosystem by introducing a new tokenization platform called TokenFi and its associated token. TokenFi aims to harness the power of blockchain-based tokenization in the financial sector and is based on research suggesting that the tokenization industry could reach a valuation of over $16 trillion by 2030. The news of the upcoming token’s release had a positive impact on FLOKI’s price, causing it to surge by more than 25% on Friday.
Gala token experienced a decline due to a legal battle between its co-founders, which had a detrimental impact on its price and trading volume. However, the token displayed strength during the recent bullish wave in the market, indicating renewed investor confidence.
yPredict is an AI-powered analytics solutions provider that offers various tools and platforms for different industries. The company has launched the WriteMingle Beta Testing Program, which uses AI to create effective backlink strategies. The yPredict ecosystem revolves around its YPRED token and aims to develop cutting-edge tools. Token holders can anticipate rewards from a staking pool and discounted access to various platforms within the ecosystem. The team envisions an APY of up to 45% every quarter, surpassing the industry average.
Hot Take: The crypto market experienced a slight dip in market capitalization and trading volume, but decentralized finance and stablecoins continue to play significant roles. Asian shares followed Wall Street’s positive trend, while European markets saw interest rates maintained by the European Central Bank. Floki blockchain introduced TokenFi, a tokenization platform that aims to tap into the trillion-dollar tokenization industry. Gala token displayed strength amid a legal battle between its co-founders. yPredict offers AI-powered analytics solutions and plans to provide rewards for token holders through a staking pool.
By
By
By
By
By