There has been a notable rally in the cryptocurrency markets today. The price of Bitcoin (BTC) briefly surpassed $58,000 again, while Ethereum (ETH), Solana (SOL) and other leading cryptocurrencies also made significant gains. XRP, in particular, was among the day’s biggest gainers, with an increase of nearly 9 percent. The global crypto market capitalization also increased by 1.10 percent to $2.14 trillion. However, the global crypto market volume was recorded as 56.45 billion dollars, down 18.06 percent compared to the previous day. Here are the details…
The Impact of ETFs in Cryptocurrency Markets and Bitcoin Price
The price of Bitcoin is on the rise again today, largely driven by continued inflows into Bitcoin ETFs. The price of BTC reached $57,859.88 today, up 1.31 percent from the previous day. Its lows and highs during the day were recorded at $56,740.53 and $58,532.55, respectively. According to Soso Value data, as of July 12, Bitcoin ETFs had inflows of $ 190.17 million. This week, Bitcoin exchange-traded products recorded inflows of almost $1 billion. Today, Bitcoin’s market capitalization is set at $1.14 trillion.
Ethereum and Solana Price Movements
The Ethereum (ETH) price increased by 1.21 percent today, reaching $ 3,124.31. Ethereum’s 24-hour lows and highs were recorded at $3,048.51 and $3,157.56, respectively. Gas fees on the Ethereum network fell to the lowest level since May 2024, an indication of low activity on the network and the upcoming ETF launch. Ethereum’s market capitalization was recorded as 375.91 billion dollars today. Solana (SOL) price, on the other hand, reached $139.23, an increase of 1.55 percent, and its lows and highs during the day were $134.16 and $140.47, respectively.
XRP and Other Cryptocurrency
XRP price rose 9.01 percent in the last 24 hours, reaching $ 0.4982. The 24-hour lows and highs of the Ripple-backed asset were recorded at $0.4489 and $0.4945, respectively. Dogecoin (DOGE) traded at $0.108, up 1.74 percent, while Shiba Inu (SHIB) reached $0.00001667, up 3.36 percent. Pepe coin, however, fell 0.34 percent to $0.000008785.
Top Gainers and Losers of the Day
Today, Ronin (RON) rose 10.50 percent to $2.15. The ORDI price rose 11.65 percent to $33.90. Bitcoin Cash (BCH) rose 7.40 percent to $ 376.98. XRP was also among the day’s biggest winners. However, the Safe (SAFE) price fell 5 percent to $1.42. Sei (SEI) price fell 3.94 percent to $0.3117, while Ethereum Name Service (ENS) price fell 2.91 percent to $25.75. Arweave (AR) price fell 2.76 percent to $23.88.
As a result, Bitcoin and Ethereum prices were down 0.21 percent and 0.23 percent on the hourly charts. These tokens are still battling market bears, signaling that price fluctuations are likely in the coming period. Overall, however, crypto prices remain in the green zone today, giving market participants hope. As we at Kriptokoin.com have reported, it is important for investors to carefully analyze projects and evaluate their investments.
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