The global cryptocurrency market continued its bullish momentum because of large whale movements.
The prices of BTC, ETH, DOGE, and ADA showed gains in the last 24 hours.
At the time of writing, the global cryptocurrency market cap has surged 2.4% in the last 24 hours to $1.07 trillion. As per CoinGabbar data, the total crypto market volume in the last 24 hours was $78.12 billion.
The crypto market leader, Bitcoin price is currently trading at $22,615. This follows a 7.4% increase in the last 24 hours. As a result, its market capitalization stands at $434.78 million.
As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,656, which increased by 7.12% in the last 24 hours.
The price of Polygon (MATIC) has increased by 8.6% in the last 24 hours. MATIC is currently ranked 11th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of MATIC was trading at $1.02.
In addition, the price of Solana increased by 17.6% in the last 24 hours. SOL is currently ranked 10th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the SOL price was trading at $24.97.
Furthermore, Shiba Inu (SHIB) continues to gain momentum and is currently trading at $0.00001205. It increased by 6% in the last 24 hours.
The global crypto market remained bullish because of the massive movement of large whales. As per reports, the whales continue buying assets at market prices, assisting the market in regaining a bullish momentum.
Moreover, the US equity market also showed bullish sentiment in its yesterday’s (Jan 20) trading session, indicating a strong correlation between the two markets.
As per recent reports, the floor price of Donald Trump's NFTs has increased by more than 120% in the last 24 hours. In addition, the trading volumes of the NFTs also witnessed a spike of 800%.
Crypto Lender Genesis Global officially filed for Chapter 11 bankruptcy in Manhattan federal court. Genesis is the latest in a string of bankruptcies triggered by the FTX collapse.
The Polygon Network is well-known for its multiple strategic partnerships, which have grown throughout the crypto winter. It recently announced a partnership with crypto custody provider BitGo to provide staking services to ERC-20 MATIC holders.
COINGABBAR Views: If the current trend continues, the market will surge further. The bullish trend in the market has persisted for some time and appears to be continuing, as indicated by the current influx.
Also read: Shiba Inu Developer Again Teases Shibarium Beta Release Date
