The cryptocurrency sector has achieved a remarkable milestone, now boasting a market valuation of $3.56 trillion, thereby surpassing Apple’s $3.5 trillion valuation and earning the title of the world’s largest market. In a dynamic trading environment, the market recorded a 2.3% increase in the last 24 hours, with trading volumes hovering around $152 billion. Bitcoin (BTC) surged past the $102,000 threshold, driven by optimism tied to Donald Trump’s presidential ambitions. Other notable performers included Hedera (HBAR) and FARTCOIN, both reporting impressive gains of 20%.
What’s Driving Bitcoin and Ethereum’s Surge?
Heightened expectations surrounding Trump’s potential presidency have sparked renewed optimism in the crypto landscape. Market participants are hopeful that the SEC might implement more favorable regulations and clearer token definitions. Additionally, easing inflation figures have bolstered speculation about possible interest rate reductions from the Federal Reserve. Bitcoin experienced a 1.5% uptick, while Ethereum (ETH) climbed 3% in value.
How Are XRP and Solana Performing?
XRP has shown remarkable resilience, rising to $3.31 with a 10% increase over the past day. This brings its weekly gain to 45% and a staggering three-month surge of about 500%. Ripple CEO Brad Garlinghouse suggested that XRP, along with SOL and USDC, may be included in U.S. crypto reserves. Solana, too, enjoyed a 5% increase, reaching a market cap of $103 billion.
Among daily gainers, Hedera (HBAR) and FARTCOIN stood out with a significant 20% rise. Conversely, ai16z and Virtuals Protocol faced declines of 12% and 5.68%, respectively. Meme coins like Dogecoin and Shiba Inu also saw positive movements, with increases of 3% and 2%. However, Bitcoin noted a slight 1% decline in the latest trading hours.
– Crypto market capitalization now exceeds $3.56 trillion
– Bitcoin’s value exceeds $102,000, influenced by potential regulatory shifts
– XRP achieves a weekly gain of 45%, reflecting strong investor interest
– Overall market sentiment remains positive, bolstered by external economic factors
The cryptocurrency market appears buoyed by the prospect of regulatory adjustments under a Trump administration and shifts in Federal Reserve policies. The positive momentum among significant cryptocurrencies indicates a robust market sentiment, while the fluctuations in meme coins continue to capture the attention of traders.
