Bitcoin Rallies As Major Altcoins Trade In The Red

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Cryptocurrencies traded muted early on Tuesday. Bitcoin rallied while major altcoins including Ether traded in the red zone.

The Dollar Index, a measure of the Dollar’s relative strength has gained 0.08 percent overnight and is currently at 102.61.

Overall crypto market capitalization is currently at $1.07 trillion versus $1.06 trillion a day earlier.

Bitcoin gained 1.1 percent in the past 24 hours to trade at $26,756.43. The 24-hour trading range was between $26,338.54 and $27,147.47.

Ethereum shed 0.3 percent overnight and is currently changing hands at $1,719.58. The leading alternate coin ranged between $1,705.81 and $1,748.64 in the past 24 hours.

9th ranked Solana (SOL) added 2.1 percent overnight and 5.1 percent in the past week and is the only other crypto among the top 10 to trade in the overnight green one. SOL is currently trading at $15.89.

6th ranked XRP (XRP) is the greatest laggard among the top 10 cryptocurrencies and has shed 2.2 percent in the past 24 hours. Weekly losses exceed 9 percent.

42nd ranked Stacks (STX) is the highest gaining cryptocurrency in the past 24 hours. STX added 10.9 percent overnight and 21.9 percent over the past week. The blockchain protocol which seeks to enable smart coin capabilities on the bitcoin network has gained 200 percent on a year-to-date basis.

85th ranked Frax Share (FXS) has gained 5.4 percent overnight followed by 91st ranked Dash (DASH) and Optimism (OP) that have both gained more than 3 percent.

Only 54th ranked Maker (MKR) and 6th ranked XRP (XRP) are trading with gains over the 30-day horizon. MKR has rallied 12.6 percent whereas XRP has gained 1.5 percent during the period.

Meanwhile, the CoinShares’ Digital Asset Fund Flows Weekly report on institutional investments showed a fall in activity, with an outflow of $5.1 million for the week ended June 16. Ethereum products constituted bulk of the decline. XRP recorded inflows of $1.1 billion.

The country-wise analysis shows outflows of $5.8 million in Switzerland and $3.3 million in Sweden. United States recorded inflows of $3.7 million followed by $2.4 million to Germany. Cumulative AUM stood at $32.47 billion.

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