Cryptocurrency Market Cap Surges to US$3.36T, Bitcoin (BTC) Price Climbs 0.90%

The global cryptocurrency market cap stands at US$3.36 trillion, edging 0.20% higher over the past 24 hours, with trading volume surging 14.74% to US$117.62 billion.

The global cryptocurrency market cap now stands at US$3.36 trillion, showing a slight increase of 0.20% over the past 24 hours. The cryptocurrency market, however, saw a significant surge in trading volume, which went up by 14.74% to reach US$117.62 billion.

Among the major cryptocurrencies, Bitcoin (BTC) continues to hold the dominant position with a market share of 63.1%, followed by Ethereum (ETH) at 9.1%.

The market sentiment remains optimistic and is currently in “Greed” territory with an index reading of 69.

Here are some of today’s top crypto news:

World’s biggest crypto saw a 0.90% gain over the past 24 hours as Bitcoin price edged up to US$106,932.31 by 08:08 ET (13:08 GMT). The token also saw a weekly gain of about 3.15%.

Among the top 20 cryptocurrencies, Ethereum (ETH) also saw gains as the second-biggest token rose 1.33% over the past 24 hours to US$2,542.56.

Among the top gainers over the past seven days was XRP which saw a weekly gain of 7.48% as the token scaled up to US$2.36.

Among the top 10 cryptocurrencies, a modest gain was also seen in BNB as the token rose 1.05% over the past 24 hours to US$653.77.

Among stablecoins, Tether (USDT) remained pegged to the dollar at US$1.00 with minimal price movement but contributed largely to liquidity with a 24-hour volume of US$78.58 billion.

On trending tokens, several meme and AI-themed tokens saw gains. TRUMP token rose 10.42% to US$14.25 while SXT soared 20.90% to US$0.1314.

BTRUMP/SOL also drew attention on DexScan for an explosive 1,702% spike.

Despite the broader uptrend in major tokens, the Altcoin Season Index stands at 23 out of 100 which indicates the market is still largely Bitcoin-driven.

In other news, legal pressure is mounting on Strategy (formerly MicroStrategy) after it revealed a purchase of another 7,390 Bitcoin for US$764.9 million.

With the latest purchase, the firm’s total Bitcoin stash now stands at 576,230—valued at over US$40 billion in today’s market.

However, the firm is also facing a class action lawsuit over allegedly misrepresenting its crypto investment disclosures to deceive investors.

Earlier this year, Strategy (NASDAQ:MSFT) announced plans to launch an NFT platform using the Mina protocol for minting and an advanced web3 technology stack developed in partnership with Chaincode Labs.

Meanwhile, JPMorgan (NYSE:JPM) has reportedly begun allowing clients to purchase Bitcoin through a dedicated fund despite CEO Jamie Dimon’s known scepticism toward digital assets.

According to a report by The Block, the move marks a significant shift for the banking giant, which has previously maintained a largely indifferent stance toward cryptocurrencies.