by Coinstrooper Crypto Articles
Quick Take
  • The crypto market is up today, with the cryptocurrency market capitalisation increasing by 1.9%.
  • 90 of the top 100 coins have gone up over the past 24 hours.
  • At the same time, the total crypto trading volume is at $124 billion.
  • At the time of writing, 9 of the top 10 coins per market capitalization have seen their prices increase over the past 24 hours.

What Happened

Crypto Winners & Losers

Ethereum (ETH) is up by 1%, now changing hands at $3,239.

XRP’s 0.5% is the smallest rise in this category. The coin now stands at $2.03.

Market Context

The crypto market is up today, with the cryptocurrency market capitalisation increasing by 1.9%. It now stands at $3.23 trillion. 90 of the top 100 coins have gone up over the past 24 hours. At the same time, the total crypto trading volume is at $124 billion.

At the time of writing, 9 of the top 10 coins per market capitalization have seen their prices increase over the past 24 hours.

Bitcoin (BTC) is up by 2% since this time yesterday, currently trading at $92,126.

The highest increase on the list is Solana (SOL)’s 4.8%, trading at $137.

It’s followed by Binance Coin (BNB)’s 2.2% to the price of $886.

On the other hand, the only red coin is Tron (TRX), having dropped 1.1%, currently trading at $0.2772.

Zcash (ZEC) is the category’s best performer. It’s up 8%, now trading at $452.

Aave (AAVE) follows with a 7.5% increase to the price of $204.

Kaspa (KAS) follows with a 2.1% fall to the price of $0.04677.

The market is still consolidating, without any significant moves in either direction over the past month.

Meanwhile, Polish government has adopted an unchanged version of its crypto-asset market bill, despite the opposition from President Karol Nawrocki.

Prime Minister Donald Tusk argued that the legislation is a matter of national security, saying that the authorities identified several hundred foreign entities operating in the domestic crypto market.

‘A High-Volatility Regime’

According to Glassnode analysts, several key metrics show a decrease liquidity across the market. This also signals that “the market is likely entering a high-volatility regime in the weeks ahead.”

“In the near term, the crypto market should monitor USD/JPY volatility and its spillover effects on liquidity preference to better anticipate shifts in liquidity expectations,” they conclude.

Why It Matters

Meanwhile, Bitunix analysts commented on a new Bloomberg survey, which showed that all 50 surveyed economists expect the Bank of Japan to raise its benchmark rate to 0.75% at next week’s meeting.

Nearly two-thirds of analysts expect the BOJ to raise rates once every six months, with the median terminal rate rising to 1.25%, implying at least two additional hikes, the email points out.

“If the BOJ signals a stronger adjustment to the neutral rate, global carry trades could tighten, affecting FX dynamics and broader risk appetite,” the analysts say.

Details

Looking at the top 100 coins, we find that 90 have appreciated over the past day.

As for the ten red coins, Provenance Blockchain (HASH) is at the top, with a fall of 4.6% to the current $0.02881.

They found that unrealized losses jumped to $350 billion. Out of this, BTC is responsible for $85 billion.