On March 26, the cryptocurrency market experienced a slight decline of 0.30%, with the total market capitalization reaching $2.79 trillion. Bitcoin remained stable above the $70,000 mark, while Ethereum surpassed the $3,600 threshold. The Fear and Greed Index rose to 83 out of 100, indicating extreme greed and increased buying activity.
In terms of specific cryptocurrencies, leading altcoins such as Ethereum, Dogecoin, Ripple, Solana, and Litecoin performed well. Memecoin dogwifhat (WIF) saw the most significant gain with a 24-hour increase of over 19%, while KuCoin Token (KCS) experienced a decline of over 13%.
The total crypto market volume in the last 24 hours was $106.87 billion, representing a 5.21% decrease. DeFi volume accounted for $11.73 billion, or 10.98% of the total market volume, while stablecoins contributed $93.73 billion, comprising 87.70% of the 24-hour volume.
In other news, spot Bitcoin ETFs saw a turnaround with $15.7 million in net inflows, ending a five-day outflow streak. The London Stock Exchange’s plan to launch Bitcoin and Ethereum exchange-traded notes (ETNs) on March 28th boosted market optimism. However, KuCoin faced significant outflows following charges by the U.S. Department of Justice for AML violations.
The upcoming US final GDP announcement and remarks from Federal Reserve Chairman Jerome Powell are expected to introduce volatility to the market. Additionally, the anticipation of the 2024 US elections has sparked interest in the financial and crypto markets, with cryptocurrency proponents seeking legislative improvements and transparency.
Overall, despite some fluctuations and regulatory challenges, the cryptocurrency market remains optimistic, with Bitcoin and Ethereum showing resilience and attracting investors.
Source: COINGABBAR
