Today's Cryptocurrency Market Overview: BTC Holds Steady Above $80K, While TIA, TAO, and KAS Have Surged by Over 10%

Today, the broader digital asset market has remained resilient and avoided downtrend. Its global market capitalization rose by 0.58% to $2.67 trillion.

Today, the broader digital asset market experienced a slight uptick, with its global market capitalization rising by 0.58% to reach $2.67 trillion. However, its transaction volume decreased significantly by 24.17% to $119.11 billion.

The fear and greed index also underwent a change, surging to 34 from yesterday’s 24, indicating that market sentiment is easing, shifting from extreme fear to fear.

These positive figures show that the crypto market is eventually experiencing some relief after this week’s difficult beginning, which was caused by worries about macroeconomic shifts.

One of the key catalyst for this bullish movement is Ukraine’s approval of a temporary ceasefire in the war with Russia following US’ intervention. This agreement has helped decreasing global economic turmoil, calming traders who recently were concerned about geopolitical instability. Also, another positive news is that Canada has withdrawn a 25% tariff on electrify exports to the US, a move that helped ease trade tensions.

As the 25% tariff on steel and aluminum imports took effect, the crypto market remains resilient, avoiding a downturn.$BTC holds steady above $80K, while $TIA, $TAO, and $KAS have surged by over 10%.

Market Cap: $2.78T

BTC dominance: 58.26%

Fear & Greed: 34 (Fear)

— TokenInsight (TokenInsight_CI) July 11, 2024

How is the market performing today?

Most cryptocurrencies are seeing green today, triggered by positive market sentiment fuelled by favorable economic events.

As a result, Bitcoin and multiple altcoins saw price jumps. BTC’s price rose by 1.10% over the past 24 hours, currently standing at $82,477. Other altcoins like Celestia (TIA), Bittensor (TAO), and Kaspa (KAS) gained visibility as their values surged by over 10%.

Other major tokens like XRP, Solana, Cardano, and Dogecoin are also up 2.73%, 0.24%, 0.17%, and 3.54%. Ethereum experienced a decrease by 1.64%, currently trading at $1,888.

Top news today

First, Offchain Labs, the firm that powers the Arbitrum network, unveiled a plan to buy back ARB tokens to help reinforce the asset’s value. This buyback plan means the company will add ARB coins to its treasury through a strategic buy program to help bolster the ecosystem’s stability.

Elsewhere, Pell Network announced the tokenomics of its upcoming native token, PELL, scheduled to launch later part of this small cap cryptocurrencieszoom.

Lastly, Starknet announced that is making moves that would make its protocol become the first Layer 1 network to settle both Ether and Bitcoin transactions. The company plans to connect the two major chains and widen its DeFi abilities.

Small cap gainers today

Saros (SAROS) emerged as the top performer in the small-cap crypto market, with price growth of 51.9% over the past 24 hours. Next is a new cryptocurrency called, DebtReliefBot (DRB), which recorded a remarkable rise of 48.4% over the stated period.

While Viction (VIC) took the third position with a price surge of 46.1%, it was closely followed by MON (MON), which registered a slight increase of 46.0%. Lastly, ARSIQ (PRQ) wrapped up this top five small-cap gainers’ list with a slight jump of 42.9%.