The overall cryptocurrency market cap rose slightly to hit $2.53 trillion. On the other side, the overall market volume dropped more than 10% to $89.3 billion.
The crypto spectrum extends its mixed reactions on Wednesday even when Bitcoin records slow by steady uptrends. Most of the top ten digital currencies traded high early today as only four of them hovered in the red region. Bitcoin saw its value increasing by 2%, whereas Dogecoin lost 4%.
Meanwhile, the total crypto market cap hit $2.53 trillion after a marginal surge yesterday. However, the crypto volume stands at $89.28 billion after dropping 10%. Though most tokens trade in the green area, crypto enthusiasts and investors have seen a momentous week so far. Meanwhile, everyone awaits Bitcoin to record a new historic high.
The crypto world celebrated as the asset class made history, launching the first Bitcoin ETF on NYSE on Tuesday. That was when the futures exchange-traded funds rumors dominated the capital markets.
Also read:The previous 24 hours have also been eventful for the crypto space. BTC investors monitored the leading coin as it rose beyond the $63,000 level. Mudrex founder Edu Patel trusts that market volatility will surge in the days to come with the significant plummet in trading volumes.
Tech View
BNB is a utility token by the leading cryptocurrency exchange Binance. The crypto-token saw impressive rallies this week, increasing by nearly 12%. Such actions followed the $1 billion funding to enhance DApps development on BSC (Binance Smart Chain).
For now, Binance Coin ranks 3rd, with its market cap standing at $80 billion. The move shows that large investors remain bullish on BNB regardless of the regulatory clampdown. The crypto secured support near $330 before surging by nearly 50.5%. However, the crypto encountered a massive resistance at $450. Meanwhile, the alt breakout during last week’s sessions and rose towards $497. For now, Binance Coin faces an obstacle around the psychological area at $500 – $518.5.
While writing this content, BNB consolidated around the $500 level. A breakout past this area with enough volumes can take the altcoin high to $600.
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