Bitcoin and Ethereum Rise as the Crypto Market Cap Surges by 4.04% Worldwide to $2.33 Trillion

The crypto market cap has surged by 4.04% worldwide to $2.33 trillion. The FGI shows neutral sentiments amid concerns about the resurgence of inflation.

The global crypto market cap has increased by 4.04% to reach $2.33 trillion, as shown by the Fear and Greed Index (FGI), indicating neutral sentiments amid concerns about a resurgence of inflation. However, digital tokens have ventured out to take the risk of a rebound, and it remains to be seen how they perform in the coming days.

Bitcoin and Ethereum both rise

Bitcoin ($BTC) and Ethereum ($ETH) have both seen a significant gain, with both tokens marking notable upticks.

BTC, for starters, is up by 4.37% in the last 24 hours and has breached the mark of $63,000. More specifically, it is listed at $63,338.71, which is also up by 1.88% in the last 7 days. Most trades have been in green in the previous single day, with the lowest being approximately $60,754.41.

Sentiments are also evident in market cap and 24-hour trading volume, suggesting a phase of collecting tokens before it fuels the growing trajectory. Ether is reportedly waiting for its ETF, which should not take a long time.

The digital asset is above $3,400, up 3.86% in the last 24 hours and 3.48% in the last 7 days. It could defy the previous prediction of hovering around $3,500 by the end of July 2024, for it is likely to touch the base at $3,600 per the prevailing trends.

Meme sector mirrors the trend

PEPE has made heavy gains to the extent that it has outperformed BTC and ETH. The frog-themed meme coin has jumped by 8.58% in a single day and is up by 13.80% in the last 7 days. It is exchanging hands at $0.00001187 while writing this article.

The entire meme coin segment is, in fact, up by 6.58% in terms of market cap. The trading volume has surged by 27.73%.

Shiba Inu ($SHIB) has yet to surpass $11 billion in the market. Dogecoin ($DOGE), however, is sustaining a level of more than $18 billion, broadening the gap to around $8 billion. SHIB and DOGE are trading at $0.00001738 and $0.1265, applicable in the same order.

Other gainers and losers

The last 24 hours have been remarkable for the meme coin, with almost every token being up.

DOG has gained 17.74%, while TRUMP has lost 4.09%. ANDY is up by 32.45%, and PROK has shed 0.04%. Other cryptos have also made gains, except TRX with a loss of 0.12%, and so is LEO, which has plummeted by 0.21%. The fact that these losses are not as heavy keeps the situation under control.

Ether could drive the near future if the US Securities & Exchange Commission approves S-1 registration forms by July 04, 2024.

Conclusion

Cryptocurrencies are subject to volatility and may not necessarily maintain consistency in their values. This article only serves as a reference and should not be considered investment advice or an investment guide. It is recommended that you conduct thorough research and risk assessment.

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