Cryptos Decline Despite Easing In Banking Crisis Sentiment
Crypto markets declined in the past 24 hours even as Wall Street strengthened in response to an easing in the banking crisis. Overall crypto market capitalization dropped 1.3 percent overnight to touch $1.16 trillion.
Bitcoin has decreased 1.9 percent overnight and 1.8 percent in the past week but is holding on to gains of 66 percent in 2023. It is currently trading at $27,535.40. BTC has touched a high of $28,138.29 in the past 24 hours.
Ethereum has however dropped 2.3 percent overnight and 1.2 percent in the past week to trade at $1,748.37. It is however holding on to gains of 46.3 percent in 2023. ETH touched a 24-hour high of $1,782.19.
Bitcoin commands a market dominance of 46.3 percent whereas Ethereum enjoys a crypto market share of 18.6- percent. Stablecoins have fallen to 11.6 percent of the crypto market whereas the residual altcoins command 23.5 percent of the overall crypto market.
6th ranked XRP (XRP) tops the gainers list among the top 100 cryptos with a more than 6-percent uptick. The cryptocurrency has gained 27 percent in the past week and 42 percent in 2023.
84th ranked SingularityNET (AGIX) dropped 8 percent overnight to top the laggards list among the top 100 cryptocurrencies.
Meanwhile, the CoinShares’ Digital Asset Fund Flows Weekly report on institutional investments showed an inflow of $160 million for the week ended March 24. Bitcoin products recorded inflows of $128 million whereas short bitcoin products registered inflows of $31 million.
The country-wise analysis shows inflows of $69 million in United States, $58 million in Germany, $26 million in Canada and $17 million in Switzerland. Cumulative AUM stood at $34.2 billion.
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