On Tuesday, Bitcoin and Ether, the world’s two largest cryptocurrencies, saw modest gains, while other top 10 non-stablecoin cryptocurrencies traded mixed. The native token of Binance, the world’s largest crypto exchange, led the gains, according to CoinMarketCap data.
Bitcoin rose 0.24% to $26,260 in the last 24 hours, though it has lost 2.26% over the past week. This comes amid declines in global stock markets and a strong dollar exerting pressure on risk assets. Last week, Bitcoin saw minor outflows for the third consecutive week totaling $6 million, as reported by European cryptocurrency investment firm CoinShares.
Ether, on the other hand, gained 0.43% to $1,588 in the past 24 hours but is down 2.97% on the week. “Ethereum continues to suffer, with outflows for the sixth consecutive week totaling $2.2 million,” CoinShares stated in an email.
In contrast to Bitcoin and Ether’s outflows, investors showed more interest in altcoins like XRP and Solana with inflows totaling $0.66 million and $0.31 million respectively. Last week saw an inflow of $16 million into Europe where investors see recent regulatory disappointment as an opportunity. U.S. investors pulled out $14 million, seemingly still affected by recent events.
Binance’s native token BNB gained the most among cryptocurrencies on Tuesday, rising 1.41% to $212 in the past 24 hours, despite losing 2.13% on the week. Binance Japan and Mitsubishi UFJ (NYSE:MUFG) Trust and Banking Corporation are collaborating on the issuance of fiat-pegged stablecoins using Mitsubishi’s trust bank platform “Progmat Coin,” which was initially announced in February 2022.
The total crypto market capitalization rose 0.32% to $1.05 trillion, while market volume dropped 0.1% to $22.25 billion in the last 24 hours.
In other developments, the performance of the global NFT market was mixed. The Forkast 500 NFT index dropped 1.27% to 1,929.64 in the past 24 hours and posted a loss of 4.33% on the week. However, total NFT sales volume gained 12.14% to $10,801,539 while the number of NFT buyers increased 5.93% to 48,312, according to CryptoSlam data.
Among blockchains, Ethereum topped rankings as its sales volume rose 27.25% to $5.82 million. Solana and Mythos networks ranked second and third respectively. Among collections, Mythos-based DMarket topped rankings by sales volume, rising 6.17% to $992,740 in the past 24 hours.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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