XRP Surges as Ethereum Encounters Selling Pressure: Market Overview
Hey there, crypto enthusiasts! Let’s dive into the latest updates from the crypto market.
Overall, the market is seeing some growth, with a total cap of $3.32 trillion, up by 0.5% in the last 24 hours. Bitcoin is holding steady around $97K, while Ethereum is down 3% from its recent peak. On the other hand, XRP is up about 9% after reaching its highest level since 2021.
There’s been talk about bitcoin possibly hitting $146K in the near future, according to indicators from CryptoQuant. Ethereum is making moves as well, reaching around $3,700 and showing signs of capital flowing from BTC to altcoins. Bloomberg reports that stablecoins have hit a record high of $191.5 billion, with a growing role in global trade.
In other news, MARA Holdings, a major mining company, recently purchased 6,474 BTC for approximately $618 million, adding to their growing bitcoin reserves. The mayor of Vancouver, Canada, is exploring the use of BTC to diversify the city’s financial standing. And Ethereum co-founder Jeffrey Wilke made a significant sale of 20,000 ETH to the Kraken exchange.
Exciting stuff happening in the crypto world, stay tuned for more updates!
