WASHINGTON (dpa-AFX) - Cryptocurrencies rallied strongly in the past 24 hours amidst rising optimism of a trade deal between the U.S. and China. The U.S.-U.K. trade deal supported sentiment. Bitcoin touched a high of $99,882 in the past 24 hours.
Overall crypto market capitalization has jumped 3 percent overnight to $3.1 trillion. The 24-hour trading volume has also increased 48 percent to $119 billion.
Bitcoin jumped 2.4 percent overnight to trade at $99,611. The current price is 9 percent below the all-time high.
Ethereum surged 8.7 percent in the past 24 hours to trade at $1,988.
4th ranked XRP gained 3.5 percent during the past 24 hours as it changes hands at $2.21.
5th ranked BNB added 2.2 percent whereas 6th ranked Solana rallied 6.5 percent during the past 24 hours. 8th ranked Dogecoin and 9th ranked Cardano both jumped 7 percent overnight. 10th ranked TRON gained 1.2 percent in the past 24 hours.
Among the top 10 non-stablecoin cryptocurrencies, Bitcoin is the only cryptocurrency to trade with gains in the year-to-date period.
77th ranked Pudgy penguins (PENGU) topped overnight gains among the top 100 cryptocurrencies with a surge of 26 percent. 70th ranked Virtuals Protocol (VIRTUAL) followed with gains of 19 percent.
76th ranked Four (FORM) is the greatest laggard among the top 100 cryptocurrencies with an overnight decline of 3.2 percent. 64th ranked DeXe (DEXE) also declined 1 percent in the past 24 hours.
Meanwhile, the CoinShares' Digital Asset Fund Flows Weekly report for the week ended May 3 showed inflows of $2 billion as compared with net inflows of $3.4 billion during the week ended April 25.
Year-to-date inflows have increased to $5.6 billion whereas the assets under management have jumped to $156.3 billion. According to the report, Bitcoin topped flows by asset and United States topped flows by country during the past week.
Bitcoin-based products recorded inflows of $1.8 billion. Ethereum-based products witnessed inflows of $149 million followed by XRP-based products that witnessed inflows of $10.5 million. Solana-based products also recorded inflows of $6 million. Multi-asset products and Short Bitcoin products have recorded negative year-to-date flows.
More than 87 percent of the cumulative AUM of $156.3 billion is attributed to Bitcoin products that account for an AUM of $136.5 billion. Bitcoin's dominance of crypto market is much lower, at a little more than 64 percent.
AUM of Ethereum-based products stood at $9.6 billion. Multi-asset portfolios command assets under management of $6.4 billion. An AUM of $1.4 billion is attributed to Solana-based products. XRP-based products have AUM of $1.1 billion followed by Sui-based products with an AUM of $396 million.
United States witnessed inflows of $1.9 billion. Germany saw inflows of $47.2 million followed by Switzerland that registered inflows of $34.2 million. Canada recorded inflows of $20.1 million.
Of the cumulative AUM of $156.3 billion, $120.1 billion or 76.8 percent is in United States. Canada follows with an AUM of $5.6 billion whereas Switzerland accounts for an AUM of $5.5 billion. Germany accounts for an AUM of $5.4 billion followed by Sweden with an AUM of $3.1 billion.
Sweden, Switzerland and Hong Kong have recorded net outflows over the year-to-date period.
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