What happened?
The cryptocurrency market saw an uptick with 90 out of the top 100 coins turning green over the past 24 hours. The overall market capitalization had a 1.3% increase, standing at $3.96 trillion. Moreover, Bitcoin (BTC) and Ethereum (ETH) appreciated by 1.9% and 0.3% respectively.
Who does this affect?
This development affects all cryptocurrency market participants, including investors, traders, and institutions. The most notable impact is on holders of the top 10 coins, most of which have seen minor increases in value. However, Tron (TRX) experienced a minor drop of 0.4%.
Why does this matter?
This upward trend in the crypto market indicates positive sentiment among investors, potentially leading to increased trading volume and investor participation. It also suggests a potential correlation with the stock market, which has also seen increases over the past day. However, with mixed expectations for future financial reports, the sustainability of this rally remains uncertain.