Crypto Market Cap Surges 3% as Mt. Gox Repayments, Ether ETF Listings Trigger Altcoin Awakening
- WBOYOriginal
- 2024-07-18 18:13:02619browse
The recent crypto capitulation presented an opportunity for long traders to buy more. The Mt.Gox crypto repayments have been described as overestimated
Crypto prices today continued their rally with a gain of nearly 3 percent in the past 24 hours to hover around $2.52 trillion on Wednesday.
The recent crypto capitulation appeared to present an opportunity for long traders to buy more. Coinpedia reported that the ongoing Mt.Gox crypto repayments have become a buy-the-news event. Moreover, about 65 percent of Mt.Gox creditors have already been repaid through the Kraken exchange.
Earlier this week, the US SEC issued preliminary approval for three spot Ether ETFs to begin trading on Tuesday next week. With the recent rising demand for spot Bitcoin ETFs and nearly $2 billion in cash inflows over the last two weeks, speculation about altcoin adoption has drastically increased.
Meanwhile, Bitcoin's fear and greed index also jumped to around 69 percent, indicating greed, up from 25 percent, extreme fear, last week.
Here are the top crypto price movements today:
1. BTC price rallied above $65k as crypto market cap surged nearly 3 percent
2. XRP price approached all-time high with over 50% rally in two weeks
3. ADA price set to begin second bull run phase towards all-time high
4. DOT price surged over 25% as Polkadot won Parachain slot auction
5. SHIB price rallied nearly 20% as Elon Musk shared Dogecoin meme
6. LINK price approached all-time high as Chainlink 2.0 nears launch
7. UNI price surged over 15% as crypto exchange Coinbase listed ApeCoin
8. BCH price approached $400 as Bitcoin Cash prepared for halving
9. LTC price approached $120 as Litecoin prepared for halving
10. XTZ price approached $5 as Tezos prepared for upgrade
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