Bitcoin reaches $98.5K with 58% market dominance
Bitcoin (CRYPTO:BTC) has surged to $98,515, maintaining its top position with a 58.1% market dominance.
The cryptocurrency’s Total Value Locked (TVL) stands at $189.51 billion, underlining its strength in decentralised finance.
A 24-hour trading volume of $224.27 billion shows high activity despite fluctuations in asset prices.
The overall crypto market cap has reached $3.35 trillion, with Bitcoin and Ethereum holding strong positions amidst a mix of bullish and bearish trends.
Ethereum (CRYPTO:ETH) is trading at $3,371 with a 12.1% market dominance, supported by improved network efficiency and lower gas fees of just 9 gwei.
Ethereum’s efficient infrastructure continues to make it an attractive choice for decentralised applications and smart contracts.
Altcoins demonstrated mixed performance, with Stellar (CRYPTO:XLM) rising by 54.35%, reflecting renewed interest in blockchain-based payment systems.
VeChain (CRYPTO:VET) increased by 37.26%, showcasing resilience in supply chain blockchain solutions.
Other notable gains include ALGO (CRYPTO:ALGO) (+28.6%), DOT (CRYPTO:DOT) (+27.18%), and FTM (CRYPTO:FTM) (+26.76%), indicating diverse investor sentiment across the altcoin space.
Liquidations remain high, with Bitcoin leading at $77.9 million, followed by Ethereum at $51.8 million.
Dogecoin (CRYPTO:DOGE), XRP CRYPTO:XRP), and Solana (CRYPTO:SOL) also recorded significant liquidations at $40.26 million, $37.81 million, and $21.88 million, respectively.
These figures highlight the market’s high volatility and leverage-driven trading environment.
The Fear and Greed Index currently sits at 84, signaling extreme greed among investors.
This sentiment is driving increased market activity but also aligns with heightened price volatility and sharp fluctuations.
At the time of reporting, Bitcoin price was $98,304.91.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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