24 Hrs Crypto Update, Jan 09: Global Crypto Market Remains Bullish

The broader crypto market remains bullish and shows

Gains in the last 24 hours due to macroeconomic circumstances. As a result, the prices of Bitcoin, Ethereum, and Cardano are trading with bullish momentum.

At the time of writing, the global cryptocurrency market cap has surged 1.4% in the last 24 hours to $0.886 trillion. As per CoinGabbar data, the total crypto market volume over the last 24 hours was $61.47 billion.

The crypto market leader, Bitcoin price is currently trading at $17,226. This follows a 0.59% increase in the last 24 hours. As a result, its market capitalization stands at $331.44 billion. 

As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,327, which increased by 2.54% in the last 24 hours. 

Cryptocurrencies Price Action

The price of Binance (BNB) has increased by 1.21% in the last 24 hours. BNB is currently ranked 4th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of BNB was trading at $275.2. 

In addition, the price of Solana increased by 9.5% in the last 24 hours. SOL is currently ranked 13th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of SOL was trading at $16.39.

However, Shiba Inu (SHIB) continues to lose momentum and is currently trading at $0.00000877. It decreased by 1.05% in the last 24 hours.

What Turns the Crypto Market bullish?

The global crypto market has turned bullish because of the massive movement of large whales. As per reports, the whales remain active and continue buying assets at market prices, assisting the market in continuing a bullish momentum.

Meanwhile, the US equity market shows stable momentum in its yesterday’s (Jan 09) trading session, indicating a breaking correlation between the two markets. 

Major Events Around the World

• As per Hong Kong's local media outlets, the government intends to issue tokenized green bonds for institutional investors. Several authorities spoke about upcoming plans related to technology, digital assets, and the economy, with a focus on these green bonds.

• An address linked to the $190 million Nomad exploit transferred $1.57 million in Ether to the authorized cryptocurrency mixer Tornado Cash.

• Crypto exchange AEX is working on a payback plan to compensate users. This includes selling assets such as television and film box office earning rights.

COINGABBAR Views: If the current trend continues, the market will remain bullish. The bullish trend in the market has persisted for some time and appears to be continuing, as indicated by the current influx.