- Bitcoin is trading at more than $87,000, with a market cap of $1.7 trillion and solid institutional demand propelling $83 million in ETF inflows.
- Mining difficulty went up by 1.43%, while Bitcoin dominance in the crypto space improved to 60.79%.
- Ethereum, XRP, and Solana had mixed movements, while the overall crypto market cap stood at $2.82 trillion, an increase of 2.15%.
Bitcoin Movement
Bitcoin is trading at over $86,000 on March 24, keeping its trend going upwards. Statistics from CoinMarketCap indicate that Bitcoin has appreciated by 2.55% within the last 24 hours, standing at $86,126.57.
The market capitalization of the token is at $1.7 trillion, with a volume of $13.81 billion. The entire crypto market is also trending upward, with a total market capitalization of $2.82 trillion, reflecting a 2.15% increase.
Bitcoin continues to hold ground above the support level of $81,000, with traders’ bulls, according to CoinSwitch Markets Desk. About 60.52% of Binance Futures traders have longed, anticipating the price to rise further.
Bitcoin exchange-traded funds (ETFs) saw $83 million in inflows, which is a reflection of strong institutional demand. The market also saw a $13 billion whale investment, which bolsters long-term holder confidence. Bitcoin’s dominance in the crypto universe has risen to 60.79%, up by 0.30% from yesterday.
Mining Difficluty
The network’s mining difficulty increased by 1.43%, to 113.76 trillion at block height 889,056, indicating increased competition among miners.
Ethereum, however, dropped by a marginal 0.6%, while XRP and Solana increased by 1.8% and 3.1%, respectively. Ethereum’s price is at $1,990.25, with a market capitalization of $240.09 billion and a 39.34% surge in trading volume to $8.16 billion.
Tether is stable at $1, with a market cap of $143.49 billion and trading volume of $41.85 billion. Solana is at $134.75 after a 4.59% rise, with a market cap of $68.9 billion.
Dogecoin, which is Elon Musk’s favorite, rose 2.35% to $0.1715, with a market cap of $25.48 billion and trading volume of $608.38 million.
The overall crypto market volume in the last 24 hours amounted to $52.02 billion, an increase of 23.89%.
DeFi market volume is represented by $6.22 billion, or 11.96% of the total, with stablecoins taking the lead with $48.69 billion, or 93.59% of the market volume. While Bitcoin remains strong above major levels, investors expect further increases in the market.
Also Read: SEC Confirms PoW Mining Is Not Subject to Securities Laws
