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Cryptocurrency Market Crosses $80 Billion As Ether, Bitcoin Prices Gain
The cryptocurrency markets were once again above $80bn on Tuesday after spending much of the weekend in the red.
By Pete Rizzo
Updated Sep 11, 2021, 1:32 p.m. Published Jul 18, 2017, 4:45 p.m.
The cryptocurrency market continued to rebound on Tuesday, crossing the $80 billion-mark after a weekend that saw steep declines across the asset class.
Overall, the market reached a high of $84.9 billion today, up nearly 40% from a low of $61 billion this weekend.
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At press time, all of the top 30 cryptocurrencies had posted 24-hour gains, according to data provider Coinmarketcap.
Leading the recovery were the ecosystem's three largest assets by market capitalization – bitcoin, ether and XRP, all of which were up more than 10% on the day's trading.
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After dropping to below $2,000 this weekend, the price of bitcoin is now trading above $2,300, while ether notably crossed $200 for the first time since July 14.
At press time, the total value of the market was down just over 25% from an all-time high of $115 billion set in mid-June.
Arcade claw image via Shutterstock
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
Cosa sapere:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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