WASHINGTON (dpa-AFX) - Cryptocurrencies continued to trade in the red amidst anxiety ahead of a speech by Fed Chair Jerome Powell and the JOLTS report due from the U.S. on Tuesday morning. The ISM Service PMI and the FOMC Minutes due on Wednesday as well as the monthly non-farm payrolls data due from the U.S. on Friday also added to the anxiety.
Fed Chair Jerome Powell would be speaking at the European Central Bank's Forum on Central Banking on Tuesday morning. The event titled Monetary Policy in an era of Transformation being held in Portugal would be keenly watched for guidance on interest rate trajectory by major central banks.
The U.S. dollar's surge also kept sentiment muted. The 6-currency Dollar Index is currently at 105.697 versus 105.90 a day earlier.
Overall crypto market capitalization is currently at $2.31 trillion, versus $2.32 trillion a day earlier.
Bitcoin slipped 0.4 percent in the past 24 hours to trade at $62,594.67, around 15 percent below the all-time-high. The 24-hour trading range was between $63,777.23 and $62,367.18. Bitcoin is holding on to weekly gains of 2.6 percent and year-to-date gains of 48 percent. Bitcoin currently dominates 53.4 percent of the overall crypto market.
Latest data from Farside Investors showed net inflows of $130 million to Bitcoin Spot ETF products in the U.S. on Monday, versus net inflows of $73 million on Friday and net inflows of $12 million on Thursday. None of the ETFs recorded net outflows on Monday.
Ethereum dropped 0.93 percent in the past 24 hours to trade at $3,442.69. The 24-hour trading range was between $3,494.09 and $3,425.32. Ether is holding on to weekly gains of 2.4 percent and year-to-date gains of 51 percent. Ether currently dominates 17.9 percent of the overall crypto market.
4th ranked BNB (BNB) edged down 0.45 percent overnight to trade at $579.01.
5th ranked Solana (SOL) added 0.5 percent in the past 24 hours to trade at $148.12.
7th ranked XRP edged up 0.25 percent overnight to trade at $0.4815. With a loss of more than 21 percent in 2024, XRP is the highest-ranking crypto to trade in the red zone on a year-to-date basis.
8th ranked Toncoin (TON) rallied 4.4 percent overnight to trade at $7.98. TON has gained 245 percent in 2024.
9th ranked Dogecoin (DOGE) shed 1.6 percent overnight to trade at $0.1233. 10th ranked Cardano (ADA) gained 1.9 percent overnight to trade at $0.4091, restricting year-to-date losses to 31 percent.
76th ranked Beam (BEAM) topped overnight gains with a surge of 11.4 percent. 52nd ranked Bonk (BONK) followed with gains of more than 10 percent.
75th ranked Starknet (STRK) topped overnight losses with a decline of more than 7 percent. 12th ranked Avalanche (AVAX) followed with losses of 5.4 percent in the past 24 hours. 27th ranked Artificial Superintelligence Alliance (FET) and 67th ranked Celestia (TIA) also shed close to 5 percent in the past 24 hours.
Meanwhile, a quick contrast of the top-25 cryptocurrencies based on market capitalization as on the last Sunday of June 2024 and the last Sunday of June 2023 throws some interesting revelations.
Twenty-one of the top 25 cryptocurrencies as on June 25, 2023, retained a ranking among the top 25 cryptocurrencies on June 30, 2024, as well.
17th ranked NEAR Protocol (NEAR), 23rd ranked Pepe (PEPE), 24th ranked Kaspa (KAS) and 25th ranked Internet Protocol (ICP) are the new entrants to the top-25 league, replacing Wrapped Bitcoin (WBTC), Binance USD (BUSD), Cosmos (ATOM) and Monero (XMR).
Of the 21 cryptocurrencies that maintained a ranking within top 25 on both the reference dates, top ranked Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and BNB (BNB) retained the same top 4 rankings on both the dates.
Among the residual 17 cryptocurrencies, Solana (SOL), Toncoin (TON), Avalanche (AVAX), Shiba Inu (SHIB), Chainlink (LINK), Bitcoin Cash (BCH) and Uniswap (UNI) improved rankings over the course of the year. TON, AVAX and LINK jumped seven notches each whereas UNI jumped 5 slots in the ranking. While SOL and SHIB improved rankings by 4 notches, BCH jumped three slots in the ranking.
USDC (USDC), XRP(XRP), Dogecoin (DOGE), Cardano (ADA), TRX (TRX), Polkadot (DOT), Litecoin (LTC), Polygon (MATIC), UNUS SED LEO (LEO) and Dai (DAI) are the 10 cryptocurrencies that slipped in rankings between the two dates. While DAI slipped 8 notches, LTC and MATIC slipped 7 slots each. ADA slipped 3 ranks whereas TRX and DOT declined 2 points each. USDC, XRP, DOGE and LEO slipped one notch each between the said dates.
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