Global cryptocurrency market capitalization rises to $2.21 trillion

The global cryptocurrency market capitalization increased by 0.11% over the past 24 hours to $2.21 trillion, Anews.az reported, citing market data.

According to the agency, Bitcoin, the world’s largest cryptocurrency, rose 0.29% to $64,816.81, while Ethereum gained 0.65% to $1,876.97 and BNB added 0.12% to trade at $569.45.

Among gold-backed digital assets, Tether Gold (XAUt) advanced 0.23% to $4,020.89, while PAX Gold (PAXG) also rose 0.23% to $4,018.74.

Meanwhile, Zcash fell 3.51%, Monero declined 0.39%, and Bitcoin Cash dropped 2.46%.

The positive market sentiment was driven by growing expectations that the U.S. Federal Reserve could begin cutting interest rates in the coming months, supporting demand for risk assets. At the same time, the Fear & Greed Index remained at 35, indicating that investors continue to take a cautious approach.

N. Tebrizli