The Global Crypto Market Cap Breaches $2.37 Trillion, with Bitcoin ($BTC) Dominating over Half the Share

That is an uptick of 3.36%, and chances are that the market will carry forward the momentum for a while.

Bitcoin price saw a slight uptick on Wednesday, gaining 3.24% over the last 24 hours to trade at $64,556.95 by press time. ETH, on the other hand, rose by 3.79% during the same period, currently priced at $3,461.45.

The global crypto market cap stood at $2.37 trillion, up by 3.36% in the last 24 hours. The total crypto market volume over the last 24 hours was $146.16 billion, showing a 12.13% gain.

Bitcoin price saw a slight uptick on Wednesday, gaining 3.24% over the last 24 hours to trade at $64,556.95 by press time. ETH, on the other hand, rose by 3.79% during the same period, currently priced at $3,461.45.

The global crypto market cap stood at $2.37 trillion, up by 3.36% in the last 24 hours. The total crypto market volume over the last 24 hours was $146.16 billion, showing a 12.13% gain.

Bitcoin price reacted positively after clocking in at around $62,000, failing to clock any significant drops below that level to turn trades red. Experts speculate that the German government’s selling may have largely contributed to the market’s lows.

After hitting new lows on Tuesday, top meme coins showed signs of recovery on Wednesday, collectively up by 12.13% in market cap and clocking in a 70.53% gain on trading volume. Out of the meme coins, Dogecoin price fetched more than $18 billion of the market in the segment, and Shiba Inu stood second with over $11.62 billion. Their respective token values were $0.1251 and $0.00001972 at the time of writing.

PEPE showed the highest gains, clocking in a 28.93% uptick in a single day to outpace both DOGE and SHIB, which clocked in gains of 6.47% and 9.97% during the same time frame. However, it is not safe to assume that PEPE is the better token. Ideally, one should wait and see how the top two meme coins fare in the coming days, especially in reaction to the approval of Spot Ether ETF.

Among other gainers, XRP rose by 4.98%, trading at $0.5559. Toncoin ($TON) might be low on market cap, but it caught up fairly well with a token value of $7.56 and an uptick of 0.83% in the last 24 hours. Notably, TON appears steady because it lost only 0.29% in the last hour, while XRP shed 1.73% of its weight.

Cardano ($ADA) clocked in gains of 2.36% over the last 24 hours and rose by 19.81% in the last 7 days. Notably, WIF from the meme coin segment clocked in a heavier gain with a bullish run of 27.40% in the last 24 hours and 29.31% in the last 7 days, currently trading at $2.24. The token competed with FLOKI, as their comparable performance suggested a potential synchronization between them.

Interestingly, the entire crypto market appeared to be moving in sync with Bitcoin and Ethereum price movements. Considering that Bitcoin price clocked in the stronger connection to the market, the German government’s sale of a portion of its seized BTC caused significant disruption. Similarly, Mt. Gox’s announcement created a tough situation for token holders.

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