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The cryptocurrency market is off to a strong start in 2024, buoyed by the optimism around Bitcoin exchange-traded funds. The top 3 cryptocurrencies by market cap were trading in the green on Saturday morning, with Bitcoin hovering near $44,000 levels.
After months of anticipation, spot Bitcoin ETFs are set to become a reality. CoinGape earlier reported that all 11 ETF applicants filed their 19b-4 amendments with the US Securities and Exchange Commission (SEC). Bloomberg Intelligence analyst Eric Balchunas said the SEC could green-light the Bitcoin ETFs as early as Jan 11.
Amid expectations that SEC approval is imminent, US institutional investors stepped up buying into Bitcoin. Bitcoin Price (BTC) went up nearly 1% over the last 24 hours to $43,945. The OG cryptocurrency has surged 4.5% in the last 7 days, with its market cap standing at $861 billion. However, trading volumes fell 22% to $26.8 billion over the last 24 hours.
Ethereum was also trading in the green on Saturday morning, up 0.2% over the last 24 hours. As of writing, ETH Price stood at $2,249, while its market capitalization stood at $271 billion. Trading volumes over the last 24 hours dropped over 18% to $9.5 billion.
Tether (USDT) — the third largest crypto — stayed flat and was trading at $1 at press time. Other digital assets took a beating, with BNB down 5% to $307, Solana (SOL) off over 3% to $98, XRP down 0.7% to $0.573, and Cardano (ADA) off 3.9%.
Popular meme coins — Dogecoin and Shiba Inu — were also trading in the red, falling over 1% each. The global crypto market rose marginally 0.07% over the last 24 hours to $1.66 trillion The fear and greed index level stood at 70, indicating investors were cautious.
Top 3 Cryptos For Today
Pepe Price Drops Over 3%
The price of Pepe Coin fell over 3.5% over the last 24 hours to $0.000001173, sending its market cap tumbling to $492.6 million. Its trading volume over the last 24 hours went down 21% to $72.5 million.
Aptos (APT) Sheds Over 12%
The Aptos blockchain’s native token APT tanked over 12% over the last 24 hours. The altcoin last changed hands at $9.34, with its market cap falling to $2.9 billion. Trading volumes over the last 24 hours plummetted over 43% to $404 million.
Lido DAO (LDO) Price Rallies Nearly 14%
The price of Lido DAO rallied almost 14% over the last 24 hours to $3.47. At press time, its market cap stood at $3.09 billion while trading volumes over the last 24 hours surged nearly 17% 50% to $253.6 million.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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