Major cryptocurrency tokens saw increases in trading on Tuesday as the market was encouraged by optimism and bullish sentiments. In the past day, the value of the worldwide cryptocurrency market cap increased by almost 1% to approximately $1.33 trillion.
At 12:10 p.m., Bitcoin was up 0.16% at $34,930, while Ethereum was barely above $1,900.
A rise of more than 6% was seen in several well-known altcoins, such as Dogecoin and Toncoin. Litecoin, Cardano, Solana, Polygon, Polkadot, and BNB all saw increases.
As a result of Ripple’s involvement in notable projects, such as the recently announced CBDC pilot in Georgia and its inclusion in Dubai’s virtual asset regime, XRP increased by 3%.
Between $34,800 and $35,200, there is a narrow area in which bitcoin is consolidating. This suggests that investors are eagerly awaiting the market’s next significant move, either forward or downward. For Bitcoin to be able to continue rising in the coming weeks, it must maintain its support at $34,200.
At $4.89 billion, the overall volume in DeFi represents 11.98% of the 24-hour volume in the cryptocurrency market. At $36.08 billion, the total value of all stablecoins represents 88.44% of the 24-hour volume of the cryptocurrency market.
The largest cryptocurrency in the world, Bitcoin, saw a 682 billion increase in market capitalization in the last day. Currently, 51.45% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 4.01% to $13.02 billion in the previous day.
With small daily fluctuations, Bitcoin is currently trading at $34,918 in the current trading environment, with a pivotal point around $34,662. It encounters immediate resistance at $35,352, which might lead to higher goals like $36,834 and $37,722. Support levels at $34,112 provide support, and if necessary, there are more cushions at $33,425 and $32,432.