Cryptocurrency News: Bitcoin and Ethereum are rising fast; Cardano is up over 5%.
The global crypto market value increased 4.41 percent to $1.26 trillion over the previous day, putting major cryptocurrencies in the green early on June 8. Over the previous 24 hours, the entire cryptocurrency market volume increased by 3.49 percent to $84.24 billion.
The overall volume in Defi was $8.56 billion, accounting for 10.17 percent of the entire 24-hour activity in the crypto market. All stable currencies had a volume of $74.26 billion, accounting for 84.18 percent of the whole crypto market’s 24-hour volume.
According to CoinMarketCap statistics, Bitcoin’s price was hovering around Rs 24.60 lakh with a 46.83 percent dominance, up 0.50 percent from the previous day.
On the other side, Ether, the second-largest cryptocurrency and the coin tied to the Ethereum blockchain, increased by nearly 5% to $1,830. Meanwhile, the price of dogecoin was up 3% to $0.08 today, while the price of Shiba Inu was down nearly 4% to $0.000011. The market capitalization of all cryptocurrencies is at $1.32 trillion, up around 2% in the previous 24 hours.
Other digital tokens’ performance increased as well, with Cardano, Stellar, Uniswap, XRP, Litecoin, Tron, Tether, Solana, Polkadot, Avalanche, Polygon, and Chainlink all seeing increases in the previous 24 hours. Terra Luna Classic, on the other hand, dropped nearly 15%.
According to a study by digital asset data source CryptoCompare, total assets under management (AUM) across digital asset investment products plummeted 28.6% sequentially to $34.2 billion as of 26 May, owing to a large drop in the values of various cryptocurrencies.
In terms of individual assets, Bitcoin’s AUM declined 26.8% to $24.0 billion in May, but it gained market share, now accounting for 70% of total AUM, up from 68 percent in April. Furthermore, Ethereum’s market capitalization decreased 33.9 percent to $8.52 billion. Despite massive losses in AUM, total daily volumes across all crypto funds increased by 5% on average from April to May. (till 26 May). This is the first gain in a month since October 2021.
