Crypto Market Soars to $3.87 Trillion as Investor Confidence Hits New Highs
Bullish sentiment sweeps the crypto sphere as total market cap surges past $3.87 trillion—proving once again that digital assets refuse to die quietly.
Mainstream finance still scoffing? Their loss. While traditional markets wrestle with inflation and red tape, crypto's liquidity party rolls on.
Key drivers? Institutional FOMO meets retail resurgence. Bitcoin ETFs now hold more BTC than MicroStrategy (take that, Saylor stans), while Ethereum's Shanghai upgrade finally delivered on its 'ultra-sound' promises.
Watch the alts: Solana's comeback tour and BNB's exchange-driven rally suggest this isn't just a BTC-dominated cycle. Even Dogecoin's barking again—though whether that's a feature or bug remains debatable.
Cynical footnote: Wall Street's 'blockchain not Bitcoin' crowd suspiciously quiet as actual blockchain assets... you know... work.
The recent altcoin surge has considerably contributed to the broader crypto market growth. As per the new market data, the cumulative crypto market capitalization has reached $3.87T, showing a slight 0.52% dip over the past 24 hours. Additionally, the 24-hour crypto volume currently accounts for $167.25B after a 5.06%. At the same time, the Crypto Fear & Greed Index stands at 63 points, indicating significant “Greed” in the market.
Bitcoin Sees Minor 0.57% Plunge While Ethereum Surges by 0.48%
Particularly, the flagship crypto asset, Bitcoin ($BTC), has seen a 0.57% decrease. Hence, its price has reached the $117,952.38 mark. Additionally, its market dominance has touched 60.7%. Apart from that, ethereum ($ETH) is now changing hands at $3,809.11, presenting a 0.48% upsurge. In addition to this, Ethereum’s market dominance has spiked to $11.9%.
$TSLA, $CATX, and $ETHI Lead Crypto Gainers of Day
Simultaneously, the prominent crypto gainers take into account Tesla ($TSLA), CATX ($CATX), and Ethical Finance ($ETHI). Specifically, $TSLA has recorded a 657.70% increase, touching $125.04%. Additionally, CATX ($CATX) has jumped by 3451.21%, attaining the $0.000009511 mark. Subsequently, $ETHI is now trading at $0.004544 following a 687.72% increase.
DeFi TVL Records 0.39% Rise, Whereas NFT Sales Volume Slumps by 23.13%
Along with that, the DeFi TVL has witnessed a 0.39% rise to reach $140.902B. Additionally, AAVE, the top DeFi project when it comes to TVL, has touched $34.266B after a 0.59% jump. However, in the case of 1-day TVL increase, Arch Swap has gained a 3413126% over twenty-four hours. On the other hand, the NFT sales volume has dropped by 23.13%, touching $22,024,652. Concurrently, the top-selling NFT collection, CryptoPunks, has dropped by 63.12%.
RD Tech Raises $40M for Stablecoins, and Marti Puts 20% Reserves in Bitcoin
Overall, the crypto landscape has also recorded several key developments that further boost the positive momentum. In this respect, RD Technologies has collected $40M to broaden its stablecoin initiatives in Hong Kong.
Moreover, the popular crypto exchange, Coinbase, has unveiled exclusive $SOL and $XRP products that will go live on its derivatives platform on the 18th of August. Furthermore, Marti, the biggest ride-hailing platform in Turkey, has allocated twenty percent of the cumulative cash reserves to Bitcoin ($BTC).
