Crypto Rally Unabated; Market Cap Inches Close To $1 Trillion

Crypto market continued its bullish stance, as the euphoria following the steady decline in inflation erased fears of a hawkish Fed. Market capitalization inched close to the $1 trillion level, for the first time after the FTX induced market crash in early November. Overall crypto market capitalization is currently at $993 billion, gaining 1.4 percent in the past 24 hours.

Market leader Bitcoin touched a high of $21,360.87 in the past 24 hours and is currently trading at $21,351.38. BTC has surged 2.6 percent overnight. 59 percent of BTC holders are in the money at current prices versus 54 percent early on Friday.

Rival contender Ethereum has also touched a high of $1,594.04 in the past 24 hours. Ethereum has gained 2.9 percent in the past 24 hours, trading consistently above $1,500 in the past 24 hours. At its current price of $1,584.38, 61 percent of ETH holders are in the money, versus 57 percent early on Friday.

On a year-to-date basis, Bitcoin has gained 28 percent in 2023, whereas Ether has gained 31 percent during the same period.

40th ranked Aave (AAVE) is the top gainer with a 14.6 percent overnight rally, closely followed by 90th ranked Gala (GALA) and 87th ranked Casper (CSPR) which have both added more than 13 percent. 59th ranked Frax Share (FXS) gained more than 12 percent whereas 94th ranked Holo (HOT) and 95th ranked Kava (KAVA) rallied more than 10 percent overnight.

99th ranked Celo (CELO) is the greatest laggard with a 3.3 percent overnight decline. 100th ranked XDC Network (XDC) also declined more than 3 percent overnight.

90th ranked Gala (GALA), 39th ranked Decentraland (MANA), 11th ranked Solana (SOL), 46th ranked Aptos (APT), 59th ranked Frax Share (FXS) and 79th ranked Helium (HNT) are the top performers of 2023, gaining more than 100 percent during the period. GALA has rallied 222 percent whereas MANA, SOL and APT have added more than 130 percent.

22nd ranked UNUS SED LEO (LEO) continues to trade in the red zone on a year-to date basis.

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