In the last 24 hours, the total market capitalisation of cryptocurrencies rose by 2.94 per cent to $2.84 trillion.
Early trading on Monday saw notable increases in Bitcoin and other major cryptocurrencies, with Bitcoin hitting about $87,480. This is an increase of 3.712 per cent
Ethereum had a significant increase as well, rising 4.05 per cent to $2,093.
Despite looming worries over impending U.S. tariffs and the expected publication of important economic data later in the week, the market’s upward momentum remained, indicating strong investor confidence in the cryptocurrency sector.
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Other cryptocurrencies performance
With gains of three percent, two percent and 3.8 percent, respectively, XRP, Cardano, and Dogecoin were other noteworthy performers.
Growth rates for Chainlink, Avalanche, Hedera, and Stellar ranged from three per cent to 10 per cent.
“Bitcoin is holding above $86,000, registering a three per cent gain today. The key resistance level to watch is $86,700; a breakout could pave the way for $90,000,” said Vikram Subburaj, CEO of Giottus.
Market value of Bitcoin jumped to $1.727 trillion
The market value of Bitcoin jumped to $1.727 trillion, while its market share increased to 60.73 per cent.
According to CoinMarketCap, stablecoin transactions made up 94.74 per cent of all cryptocurrency trade, amounting to $57.58 billion, while its 24-hour trading volume increased by 93 per cent to $18.2 billion.
Solana leads with 7%
Solana was a remarkable performer, rising more than seven per cent on the last day to trade above $139.
Reports indicating that President Trump’s tariffs on April 2 would be more targeted than first thought, allaying market fears, drove the rally.
The momentum behind Solana coincides with previously unheard-of acceptance rates.
Solana’s total value locked (TVL) hit 54.87 million SOL, the most since June 2022, according to DeFiLlama.
A record 11.09 million addresses currently have SOL, according to Ali Charts, highlighting the rising use.
Ethereum and Solana bridged assets totalling over $72 million
Furthermore, Ethereum and Solana have just bridged assets totalling more than $72 million.
Ethereum’s weekly active addresses (1.8 million) are greatly outnumbered by Solana’s (17 million), and Binance’s increasing SOL wallet balances suggest new stockpiling after previous selling activity.
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Institutional adoption of Solana
Volatility Shares launched two Solana futures ETFs (SOLZ and SOLT) on the Nasdaq on March 21 as evidence of the growing institutional adoption of Solana.
Significant asset managers have also expressed interest in the cryptocurrency by applying for spot Solana ETFs, including VanEck and Franklin Templeton.
Bitcoin’s trajectory is encouraging, according to BitMEX co-founder Arthur Hayes, who said, “The Fed’s policy orientation could help Bitcoin achieve $110k before it retests $76.5k.”