Crypto Market Rises, Trading Volume Surges 82%, Bitcoin Soars Above $80,000

The global crypto market increased marginally on Monday. The total market cap was up by 2.08 per cent to $2.72 trillion, while the total trading volume was up by 82.05 per cent to $214.18 billion.

Bitcoin BTC was the most trending cryptocurrency. It was up by 3.48 per cent to $81,489.61. Its 24-hour trading volume was $81.56 billion. Cronos CRO was the top gainer. It was up by 30.13 per cent. Its 24-hour trading volume was $310.12 million. Lido DAO LDO was the top loser. It was down by 10.60 per cent. Its 24-hour trading volume was $288.70 million.

DeFi was down by 3.79 per cent to $7.31 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, co-founder and CEO, Unocoin, said: “The price of Bitcoin jumped above $80,000 for the first time after Donald Trump’s decisive victory in the US Presidential Election. The rise is partly driven by expectations that Trump will deregulate the crypto industry and create a more favourable environment for digital assets. His promise to make the US the “crypto capital of the planet” and appoint crypto-friendly regulators, including replacing SEC Chairman Gary Gensler, has fuelled optimism. Other cryptocurrencies like Dogecoin are also gaining. Trump’s broader economic agenda, including tax cuts and deregulation, has boosted various markets, including stocks, bonds and the dollar.”

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 3.48 per cent to $81,489.61. Its 24-hour trading volume was $81.56 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 57.5 per cent.

Ethereum: Ethereum ETH was up by 0.32 per cent to $3,180.11 from the previous day. Its 24-hour trading volume was $46.38 billion. Ethereum’s market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $1. It was up by 0.04 per cent. Its 24-hour trading volume was $183.05 billion. It was ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 1.57 per cent to $208.07. Its 24-hour trading volume was $8.62 billion.

Avalanche AVAX was trading at $31.96, up by 0.70 per cent. Its 24-hour trading volume was $942.64 million.

Cardano ADA was up by 5.18 per cent to $0.595 from the previous day. Its 24-hour trading volume was $4.89 billion.

Meme Coins

Dogecoin DOGE was up by 28.33 per cent, with a 24-hour price of $0.2956.

Shiba Inu SHIB was up by 14.74 per cent to $0.00002616.

Decentralised Finance

DeFi coin was trading at $0.0192, up by 2.60 per cent.

Yearn Finance YFI was up by 22.80 per cent to $6,942.71 in the last 24 hours. Its 24-hour trading volume was $333.20 million.