Cryptocurrency Markets Show Steady Growth as Bitcoin Surges to $87,000

The cryptocurrency market has demonstrated resilience with Bitcoin leading the charge, climbing to $87,000 amid renewed investor confidence. Altcoins have also posted gains, reflecting a broader market recovery. Analysts attribute this upward trend to institutional interest and favorable macroeconomic conditions. Traders are closely monitoring key support and resistance levels to gauge potential future movements.

The crypto market is expressing renewed sentiment with modest price increases across prominent assets. The latest market data reveals a 2.03% increase in crypto market capitalization that has reached $2.88T. Additionally, the 24-hour spot volume of the market has also surged by 5.18% to touch $35.44B, while the Fear & Greed Index has slightly jumped to 39.

Bitcoin ($BTC) Reclaims $87K Mark While Ethereum ($ETH) and Solana ($SOL) Closely Follow

Bitcoin ($BTC) is currently trading at $87,435, showing a 2.68% increase over the past twenty-four hours. Apart from that, the market dominance of the top crypto asset has also spiked to 60.25%, indicating a 0.64% jump. Apart from that, the leading altcoin Ethereum ($ETH) has also jumped by 1.53%, attaining the $1,640 mark. However, after a 0.48% dip, its market dominance has reached 6.87%. Simultaneously, Solana ($SOL) stands at $140.98, signifying a 0.07% rise.

$LOOM and $TAO Dominate Daily Gainers with 153% and 9.09% Increases

In addition to this, the top gainers take into account $LOOM and $TAO among small-cap and large-cap cryptocurrencies. $LOOM is currently changing hands at $0.0352, with a staggering 153% price surge. Concurrently, $TAO accounts for a 9.09% increase as its present price is $328.6.

DeFi Expresses a 0.3% Growth in TVL While NFT Sector Jumps by 15% in Trading Volume for Scalability

Moreover, the DeFi market has seen a 0.3% increase as its TVL has touched $184B, with Zircuit getting the peak spot with a 22% increase. Along with that, the NFT sector’s volume has recorded a notable 15% rise. CryptoPunks maintains its top position among NFT collections with a $634K in volume. Parallel to this, alignDraw has emerged as the prominent collection based on TVL growth while accounting for a 1,371% rise.

Metaplanet Inc. Acquires 330 $BTC While Ethereum Co-Founder Proposes EVM’s Swap for RISC-V

The recent key crypto funding rounds include Neutrl, Glider, and ZND, pocketing $5.0M, $4.0M, and $20M, respectively. Additionally, a prominent Bitcoin Treasury firm, MetaPlanet Inc. has obtained 330 $BTC for nearly $28.2M. On the other hand, the value of $sUSDC on Synthetix has further distanced itself from its peg. Apart from that, Ethereum’s co-founder, Vitalik Buterin, has proposed the EVM’s swap for RISC-V for enhancement in scalability.