Cryptos market cap down to $2.27trn amid investors’ volatile trading

by Motolani Oseni

The total cryptos market volume on the last trading for last week stood at $91.24 billion after the market sheds 1.33 per cent to close at $2.2 trillion due to volatile trading.

Market volume traded makes a 15.21 per cent increase while the total volume in DeFi is currently $16.51 billion, 18.10 per cent of the total crypto market 24-hour volume.

According to data from Coinmarketcap.com, the volume of all stable coins is now $71.25 billion early on Thursday, which is 78.09 per cent of the total crypto market 24-hour volume. Bitcoin’s price is trading at $48,322.69 with a dominance of 40.33 per cent, a decrease of 0.23 per cent over the day.

Meanwhile, all of the top cryptocurrencies climbed during the late New York trading day on Wednesday while the United States dollar trades low following Fed’s plan to double down bond-buying tempering.

Cosmos (ATOM-USD) was the biggest gainer, with a 22.5 per cent increase to $28.30 over the past 24 hours.

Polygon (MATIC-USD), the tenth-largest cryptocurrency by market value, rallied more than 13 per cent to $2.61, while Polkadot (DOT-USD), the eighth largest, advanced nearly 11% to $21.83.

Ethereum (ETH-USD), the second top cryptocurrency by market value, fluctuated between a day low of $3,945 and a day high of $4,073 and was recently trading down 0.7 per cent at $3,997.

Bitcoin (BTC-USD) was up 0.4 per cent at $48,958 in recent trading. The oldest and largest cryptocurrency has more than doubled over the past 52 weeks, compared with a nearly 27 per cent increase for the S&P 500 Index.

US 5-Year TIPS Auction High Yield Rises from Previous Auction.

Elsewhere, the US Treasury’s 5-year TIPS auction hit a high yield of -1.508 per cent on Thursday, up from the -1.685 per cent high in the previous auction.

The bid to cover ratio for the auction was 2.42, slightly below the 2.45 ratio in the previous auction. Dealers represented 54.74 per cent of the bids, with direct bidders at 8.05 per cent and indirect bidders at 37.22 per cent.

For takedown, bidders took 13.98 per cent, with direct bidders at 14.82 per cent, and indirect bidders were awarded 71.19 per cent # Cryptos Market Cap Drops to $2.27trn as Investors Take Profit.