In recent crypto news, Bitcoin has surpassed $71,000, reaching its highest level in over five weeks, driven by increased inflows into Bitcoin spot ETFs.
Ethereum (one of the top 10 altcoins) has also experienced a surge of 19% in price, fueled by speculation about the potential approval of ETH spot ETFs by the US SEC. The total cryptocurrency market capitalization has risen by 8.40% to $2.74 trillion, indicating increased value.
The Fear and Greed Index has reached 76 out of 100, signaling extreme greed and strong buying activity in the market.
The total crypto market volume in the last 24 hours has surged by 142.82% to $131.7 billion. DeFi volume stands at $10.03 billion, comprising 7.61% of the total market volume. Stablecoins dominate the market with a volume of $121 billion, representing 91.88% of the total market volume.
Bitcoin’s dominance currently stands at 53.68%, a decrease of 0.79% over the day. Other notable news includes Ethereum’s potential ETF approval, Gala Games’ security breach, the SEC opposing Ripple’s motion to seal evidence, and U.S. senators nullifying the SEC’s rule on banks and digital assets.
Additionally, there have been significant inflows into crypto investment products, driven by easing inflation and interest rate expectations. A former Finiko executive has been sentenced to three years for involvement in a $55 million Ponzi scheme.
Source: COINGABBAR
