WASHINGTON (dpa-AFX) - Strong inflows to Bitcoin and Ethereum Spot ETF products in the U.S. on Thursday helped cryptocurrencies record gains over the past 24 hours. The Dollar's weakness also boosted crypto market sentiment. Close to 40 of the top 100 cryptocurrencies are trading with overnight gains of more than a percent.
According to data released by Farside Investors, Bitcoin Spot ETF products in the U.S. witnessed inflows of $475 million on Thursday versus outflows of $338 million on Tuesday. Ether Spot ETF products in the U.S. witnessed inflows rising to $117 million on Thursday from $54 million on Tuesday.
Fidelity Wise Origin Bitcoin Fund (FBTC) topped with inflows of $254 million. Ark 21Shares Bitcoin ETF (ARKB) saw inflows of $187 million followed by iShares Bitcoin Trust (IBIT) that recorded inflows of $57 million.
The six-currency Dollar Index which measures the Dollar's strength against a basket of currencies is currently trading at 107.98 versus the 25-month high of 108.54 recorded a week ago.
Overall crypto market capitalization is currently at $3.36 trillion, recording an overnight addition of close to half percent.
Amidst the crypto rebound, market capitalization of the not-so-volatile stablecoins increased 0.27 percent to $213.6 billion or 6.4 percent of the overall crypto market. Market capitalization of the Decentralized Finance category gained 2.1 percent overnight to $152.4 billion, accounting for a market share of 4.6 percent.
Market capitalization of the memes category gained 1.6 percent overnight to $96.1 billion, accounting for a market share of 2.9 percent.
Market capitalization of the AI& Big data category also added 2.7 percent overnight to $51.7 billion implying a market share of 1.5 percent.
The CoinMarketCap 100 Index that measures the performance of the top 100 cryptocurrency projects (excluding stablecoins and asset-backed wrapper tokens) by CoinMarketCap ranking based on their market capitalization is currently at $205.06. The index has ranged between the yearly high of $234.54 recorded on December 17, 2024 and the yearly low of $89.94 recorded on January 23, 2024.
Coinmarketcap's Crypto Fear and Greed Index, a barometer of the emotional state of the market is currently at 54 denoting a 'Neutral' position. It was at 63 (Greed) a day earlier, at 62 (Greed) a week earlier and at 85 (Extreme Greed) a month earlier.
Bitcoin has gained 0.16 percent overnight to trade at $96,217.73, around 11 percent below the all-time high of $108,268.45 recorded on December 17. BTC has gained 1.4 percent in the past week, 1.9 percent over the past 30 days and more than 127 percent till date in 2024. Bitcoin traded between $97,294.85 and $94,603.55 in the past 24 hours.
Ethereum added 0.5 percent in the past 24 hours to trade at $3,381.64, around 31 percent below the previous peak. Weekly gains are more than 2.5 percent whereas gains in 2024 are more than 48 percent. Ether traded between $3,436.71 and $3,302.31 in the past 24 hours.
4th ranked XRP (XRP) edged down 0.05 percent overnight to trade at $2.18. The cryptocurrency is currently trading around 43 percent below the all-time high.
5th ranked BNB (BNB) added 1.4 percent overnight at its current trading price of $702.70. BNB is currently trading 11 percent below the all-time high.
6th ranked Solana (SOL) gained 0.9 percent overnight, lifting weekly gains to 3.1 percent. SOL is currently trading at $190.09, around 28 percent below its record high.
7th ranked Dogecoin (DOGE) increased 0.8 percent overnight to trade at $0.3179. DOGE is trading 57 percent below the previous peak.
9th ranked Cardano (ADA) gained 2 percent overnight to trade at $0.8905. ADA is currently trading 71 percent below the record high till date.
10th ranked TRON (TRX) rallied 4.3 percent overnight to trade at $0.2633. TROX has added 9.8 percent in the past week. The trading price is 40 percent below the cryptocurrency's all-time high.
41st ranked Virtuals Protocol (VIRTUAL) topped overnight gains with a surge of 19.5 percent. 96th ranked Fartcoin (FARTCOIN) added 17.7 percent followed by 16th ranked Bitget Token (BGB) that rallied 15 percent.
87th ranked FTX Token (FTT) topped overnight losses with a decline of 8.8 percent. 93rd ranked XDC Network (XDC) also declined more than 8 percent followed by 100th ranked Zcash (ZEC) that erased 7.1 percent.
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