The global cryptocurrency market cap on Monday soared by 0.7 percent to around $2.45 trillion.
The market cap of Bitcoin, the world’s largest cryptocurrency accounted for $1.327 trillion.
As a result, Bitcoin surpassed Visa and Mastercard in terms of daily transaction volume, hitting a new milestone.
According to data from Glassnode, the leading crypto asset recorded a volume of $46.4 billion, compared to $6.5 billion for filtered economic transactions, adding that the surge was due to increasing adoption and innovations such as the Runes protocol.
Bitcoin (BTC) reached $68,450, eyeing $70,000, supported by Ethereum ETFs launch.
Bitcoin, Solana, and Dogecoin led a positive crypto market movement among the scores of cryptocurrency assets.
President Biden’s re-election decision influenced the market. According to the XEO of Mudrex Edul Patel, “Bitcoin has bounced back to the $68,000 mark as market participants show optimism about Donald Trump’s potential election win.
He said BTC is “now eyeing the $70,000 level, signaling a continued positive sentiment.”
However, bears are likely to challenge this advance in the $70,000 to $73,000 range.
“Bitcoin’s strength has also led to a recovery in several altcoins. Additionally, the market may get another boost from the launch of Ethereum ETFs, which are expected to start trading on July 23.”
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