The market price of the world’s largest cryptocurrency fell to $61,300 on Wednesday due to retail selloffs. The latest slump was a moderate rebound witnessed in the crypto space yesterday.
Recall that most major digital assets rose on Tuesday, with bitcoin (BTC-USD) rebounding to near the $62,000 mark. The CoinDesk Market Index, which tracks 192 digital assets, was up 4% in the past 24 hours.
Bitcoin (BTC-USD), the largest cryptocurrency by market value, climbed more than 4% yesterday to $62,094.29 as trading volume shrank 10.3% to $34.35 billion.
However, Ethereum (ETH-USD), the second-largest digital asset, gained 0.05% to $3,377, according to data from CoinMarketCap.com.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, rose by 037% on Wednesday, while Solana (SOL-USD), the fourth-largest, dipped by 0.7%.
XRP (XRP-USD) added 2%, Dogecoin (DOGE-USD) surged 10.5%, Cardano (ADA-USD) advanced 7.4%, and Toncoin (TON-USD) was up 1.7%.
The US 10-year Treasury yield closed at 4.238%, down from Monday’s 4.248%, while the five-year Treasury yield closed at 4.263%, down from 4.271%.
The global market value of the cryptocurrency industry was down by 0.11% in the past 24 hours to $2.27 trillion. Details from the crypto exchange showed that trading volume decreased 27.22% to $62.89 billion.
The total volume in DeFi is currently $4.01 billion, accounting for 6.38% of the total crypto market 24-hour volume. The volume of all stable coins is now $59.36 billion, which is 94.39% of the total crypto market 24-hour volume.
