WASHINGTON (dpa-AFX) - Cryptocurrencies are trading on a firm note amidst optimism about de-escalation in trade-related tensions, particularly between the U.S. and China.
Overall crypto market capitalization has increased 0.37 percent overnight to $3.33 trillion. The 24-hour trading volume has however decreased 3.6 percent to $106 billion.
Bitcoin gained 0.32 percent overnight to trade at $105,720.46 which is 6 percent below the all-time high of $111,970 recorded on May 22. The 24-hour trading range was between $106,814 and $105,112.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $375 million on Tuesday versus outflows of $268 million on Monday. Ark 21Shares Bitcoin ETF (ARKB) topped with inflows of $139.9 million followed by Fidelity Wise Origin Bitcoin Fund (FBTC) that recorded inflows of $136.8 million.
Ethereum rallied 0.86 percent in the past 24 hours to trade at $2,638.42 which is 46 percent below the all-time high. Ether traded between $2,652 and $2,582 in the past 24 hours.
Ethereum-based Spot ETF products witnessed inflows of $110 million on Tuesday versus inflows of $78 million on Monday.
Bitcoin's market share stands at 63.12 percent whereas Ethereum currently accounts for 9.57 percent of the overall crypto market.
Bitcoin is currently ranked 6th and Ethereum 33rd in the ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked XRP surged 2.3 percent during the past 24 hours as it changes hands at $2.25.
5th ranked BNB added 0.60 percent whereas 6th ranked Solana declined 2.7 percent during the past 24 hours. 8th ranked Dogecoin edged down 0.06 percent whereas 9th ranked TRON added 0.64 percent overnight. 10th ranked Cardano witnessed a price gain of 0.32 percent in the past 24 hours.
69th ranked SPX6900 (SPX) topped overnight gains among the top 100 cryptocurrencies with a surge of 7.2 percent. 68th ranked Four (FORM) followed with overnight gains of 5.9 percent.
71st ranked Fartcoin (FARTCOIN) is the greatest laggard among the top 100 cryptocurrencies with an overnight decline of 7.2 percent. 60th ranked Bonk (BONK) declined 4.5 percent in the past 24 hours.
Meanwhile, the CoinShares' Digital Asset Fund Flows Weekly report for the week ended May 30 showed inflows of $286 million versus inflows of $3.3 billion during the week ended May 23.
According to the report, despite positive inflows during the week, the total assets under management declined as prices softened amid market volatility triggered by uncertainty over US tariffs.
Year-to-date flows have increased to $11.14 billion whereas the assets under management have declined to $177.2 billion, from $183.7 billion at the end of the previous week. According to the report, Ethereum topped flows by asset and United States topped flows by country during the week ended May 30.
Ethereum-based products recorded inflows of $321 million. Solana-based products and Sui-based products, both recorded inflows of close to $2 million.
XRP-based products saw outflows of $28.2 million followed by Bitcoin-based products that recorded outflows of $8 million and Short Bitcoin products that recorded outflows of $3.67 million. Multi-asset products also recorded outflows of $2.4 million. Multi-asset products, Chainlink products and Short Bitcoin products continued to record negative flows on a year-to-date basis.
More than 85 percent of the cumulative AUM of $177.2 billion is attributed to Bitcoin products that account for an AUM of $152.1 billion. Bitcoin's dominance of crypto market is much lower, at close to 63 percent.
AUM of Ethereum-based products stood at $14.3 billion. Multi-asset portfolios command assets under management of $6.8 billion. An AUM of $1.5 billion is attributed to Solana-based products. XRP-based products have AUM of $1.2 billion followed by Sui-based products with an AUM of $300 million.
United States witnessed inflows of $198.6 million. Hong Kong saw inflows of $54.8 million followed by Germany that recorded inflows of $42.9 million and Australia that recorded inflows of $21.5 million.
Switzerland recorded outflows of $32.8 million followed by Sweden and Brazil that both witnessed outflows of more than $3 million.
Of the cumulative AUM of $177.2 billion, $134.7 billion or 76 percent is in United States. Canada follows with an AUM of $6.2 billion whereas Germany accounts for an AUM of $6.04 billion. Switzerland accounts for an AUM of $5.9 billion followed by Sweden with an AUM of $3.6 billion.
Sweden and Switzerland have recorded net outflows over the year-to-date period.
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