The global crypto market has surged by 1.70%, reaching $2.29 trillion. Overall, sentiments are neutral for all the right reasons. Still, concerns about inflation keep inventors wary about diversifying their holdings in digital assets. That is affecting capital inflow and, hence, liquidity. Nevertheless, predictions are full of optimism, and crypto enthusiasts expect a rebound to happen soon.
Market performance of Bitcoin and Ethereum
Bitcoin ($BTC), the flagship crypto across the world, has risen by 1.25% in the last 24 hours. This is a much-needed performance, for the token is way less valued than the community wants it to be. It is hovering around $61,764.37, up by 0.20% in the last 1 hour. Its market cap is above $1.2 trillion for a dominance of more than 50%.
Ethereum ($ETH) is waiting for the final nod of approval for its Spot ETH ETF. The US SEC has approved 19b-4 forms and is expected to give a green light to S-1 by July 04, 2024. This speculation has marked an uptick of 2.25% in the last 24 hours and 0.25% in the last 1 hour. It is still down by 1.22% in the last 7 days. Interestingly, BTC has shed more weight in a week than Ether.
Market performance of memecoin segment
There has been a notable upswing in 24-hour trading volume and market cap across the memecoin segment. The volume has soared by 21.3%, and the market cap is up by 3.23%. Leading this trend are DOGE and PEPE. Dogecoin has gained 3.35% in the last 24 hours to exchange hands at $0.1265. PEPE, while it was down during the same timeframe, has gained 12% in the last 7 days and is now listed at $0.00001234.
Frog-themed memecoin is the only memecoin in the top three ranks to have gained in an hour. The green trade is signaling a rise of 0.15%. Shiba Inu ($SHIB) has slipped to the 13th position. Its market cap has dropped to $10.2 billion. This has furthered the dream of dethroning DOGE as the top memecoin in the market.
More gainers and losers
Conversations have to be incomplete without the mention of XRP. The token deserves it, though, considering how long it has come after engaging in a legal dispute with the SEC. While it was Ripple vs. SEC all the way, the effects were more than evident on XRP. The token is down by 2.55% in the last 7 days but has made gains in the last 24 hours and 1 hour—1.46% and 0.36%, applicable in the same order.
Nothing has surpassed Solana ($SOL). The token gained 11.16% in the last 7 days and 7.34% in the last 24 hours. Plus, the ongoing listed value of $147.38 is with an uptrend of 0.25% in the last 1 hour. Meanwhile, the meme coin segment continues to look at PEPE with hopes for more increases as DOGE and SHIB attempt to rebound to a more reputable figure.
Disclaimer: Values in this article were true at the press time. They are subject to change amid volatility and other factors.