Bitcoin maintained stability above the $109,000 mark on Wednesday, while altcoins displayed a mixed bag of minor gains and losses. Uniswap led the day’s rally with a sharp 16% surge, as global market sentiment hovered in ‘greed’ territory.
The global cryptocurrency market witnessed a relatively calm session on Wednesday, with Bitcoin (BTC) holding its ground above the $109,000 mark. Investors showed cautious optimism as altcoins fluctuated between gains and minor pullbacks, reflecting a balanced yet slightly bullish sentiment in the market.
According to CoinMarketCap, Bitcoin’s price hovered at $109,640.18, marking a modest 24-hour gain of 0.14 percent. Indian exchanges quoted the top cryptocurrency at approximately Rs 90.39 lakh. Meanwhile, the broader crypto market cap saw a slight uptick of 1.02 percent over 24 hours, standing at $3.45 trillion.
Ethereum: 2nd Largest Cryptocurrency
Ethereum (ETH), the second-largest cryptocurrency by market cap, outperformed Bitcoin during the session. ETH prices rose by nearly 4 percent, trading at $2,796.36 globally and Rs 2.13 lakh on Indian exchanges. Analysts point to rising confidence in Ethereum’s staking model, with 34.6 million ETH—representing almost 28% of the total supply—locked in its Proof-of-Stake contract. This staking volume, valued at nearly $90 billion, reflects growing investor conviction in the network’s long-term prospects.
Among other popular coins, Dogecoin (DOGE) advanced by 3.02 percent to $0.1980, while Litecoin (LTC) climbed 1.62 percent, settling at $91.69. Solana (SOL) also witnessed healthy gains, up 3.79 percent to trade at $165.13. In contrast, Ripple’s XRP edged lower by 0.17 percent, settling at $2.29.
Uniswap Leads the Day’s Rally
The day’s standout performer was Uniswap (UNI), which soared 16.61 percent in 24 hours to $8.27. Market participants attributed the surge to recent signals from the U.S. Securities and Exchange Commission (SEC), suggesting possible regulatory relief for decentralized finance (DeFi) platforms. This optimism around tailored exemptions appears to have sparked renewed buying interest in UNI.
Other notable gainers included Kaia (KAIA) with a 15.80 percent rise, Vaulta (A) climbing 15.44 percent, Jito (JITO) gaining 14.93 percent, and SPX6900 (SPX) up 12.35 percent.
Losers Remain Contained
While the market largely trended upwards, a few tokens faced minor corrections. UNUS SED LEO (LEO) led the day’s losers with a near 2 percent drop, settling at $8.90. Bittensor (TAO), Toncoin (TON), GateToken (GT), and Story (IP) also posted marginal declines ranging from 0.10 to 1.36 percent.
Market Sentiment Holds in ‘Greed’ Zone
According to CoinMarketCap’s Fear & Greed Index, sentiment continues to lean towards ‘greed,’ with a score of 65 out of 100. Despite global regulatory uncertainties, investors appear willing to maintain their positions, especially as Bitcoin edges back towards its all-time highs.
In another positive development, stablecoin activity saw an uptick, with PayPal’s PYUSD stablecoin returning to its $1 billion circulation peak. The move suggests renewed confidence in digital dollar-pegged assets amid the ongoing market recovery.
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