Thursday saw a positive resurgence in the cryptocurrency market, as it reclaimed its position at $2.55 trillion, marking a 2.13% gain against the U.S. dollar. Although trading activity decreased, with volumes at $90.78 billion over the past day, bitcoin rose by 2.3% and surpassed the $68,000 threshold, while ether experienced a 0.9% increase throughout the day.
The cryptocurrency market displayed signs of improvement during the week’s trading, with many coins posting gains against the U.S. dollar on Thursday. Despite this positive trend, the global trade volume decreased by 11.92% to $90.78 billion compared to the previous day.
Bitcoin (BTC) showed resilience and registered a 2.13% increase against the U.S. dollar, bouncing back from earlier declines in the week.
Ethereum (ETH) experienced moderate growth, with a 0.9% uptick. Among the top ten cryptocurrencies, the standout performer was BNB, which surged by 6.2% in the last day. Another notable performer was mantle (MNT), which soared by 11.7%, closely followed by bitcoin cash (BCH) with a respectable 7.9% rise. Additionally, CHZ, MKR, ETC, and XEC all showcased significant gains of 6.5% or more throughout the day.
However, the newcomers in the crypto realm, W, CORE, and ENA, faced losses against the U.S. dollar within the 24-hour timeframe. Wormhole’s latest token, W, experienced a substantial 22% downturn, while CORE and ENA faced losses of 18.7% and 14.3% respectively. JUP, FLR, and GT also grappled with notable declines during Thursday’s trading sessions.
Excluding BTC, ETH, and stablecoins, SOL, DOGE, BNB, and XRP emerged as the focal points of the day’s trading activities among the top coins by 24-hour trade volume. Other top-volume coins included BCH, ENA, W, LTC, and SHIB. Presently in South Korea, BCH is the top coin by volume, trading at $687, while the weighted global average is $640 per unit.
What are your thoughts on the crypto market action on Thursday? Share your opinions in the comments section below.
