The global cryptocurrency market capitalisation rose on Wednesday, fueled by a recovery in Bitcoin (BTC-USD) prices. According to data from CoinMarketCap.com, the total market value of cryptocurrencies climbed 2.62% over the past 24 hours, reaching $3.23 trillion. However, trading volume fell 23.68% to $197.16 billion.
Within the market, DeFi-related trading volume accounted for $13.28 billion, representing 6.74% of the total 24-hour trading volume. Meanwhile, stablecoin activity dominated, with $181.05 billion traded—91.83% of the total.
Bitcoin and Other Major Cryptos See Mixed Performance
Late Tuesday, digital assets showed mixed movements. Bitcoin (BTC-USD) dropped 3.5% to $91,480, despite a 32.8% surge in 24-hour trading volume to $96.82 billion. Ethereum (ETH-USD), the second-largest cryptocurrency, fell 4.7% to $3,318. Other notable losses included:
- Solana (SOL-USD): -3.6%
- BNB (BNB-USD): -4.8%
- XRP (XRP-USD): -2.7%
- Dogecoin (DOGE-USD): -4.1%
- Cardano (ADA-USD): -4.7%
The CoinDesk Market Index, which tracks 126 cryptocurrencies, fell 4.3% in the past 24 hours. Traditional markets showed modest gains, with the Nasdaq 100 up 0.35%, the S&P 500 rising 0.48%, and the Dow Jones Industrial Average increasing 0.26%.
Bond Yields Rise Amid Market Activity
The U.S. 10-year Treasury yield closed at 4.302%, up from Monday’s 4.267%, while the 5-year yield rose to 4.193%.
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