• The cryptocurrency market cap experienced minor net inflows of around $740 million over the past 24 hours and currently stands at $807.70 billion — up 0.07%.
• Bitcoin and Ethereum’s market caps decreased by 0.01% to $322.15 billion and 0.15% to $148.80 billion, respectively.
• The top 10 cryptocurrencies traded flat during the last 24 hours, with the majority posting gains of less than 1%.
The cryptocurrency market has seen a positive start to the new year, with overall market cap increasing slightly in the past 24 hours. According to CryptoSlate, the market cap of the entire cryptocurrency market was up 0.07% over the reporting period, with net inflows of around $740 million.
Leading the market were Bitcoin and Ethereum, which experienced slight drops in their market caps. Bitcoin’s market cap decreased by 0.01%, while Ethereum’s decreased by 0.15%. Despite this, both digital assets maintained their respective prices of around $16,735 and $1,215.
The top 10 cryptocurrencies traded flat during the last 24 hours, with the majority posting gains of less than 1%. Tether’s market cap remained flat at $66.24 billion, while USD Coin (USDC) marginally increased to $44.72 billion. BinanceUSD (BUSD) dropped to $16.43 billion.
The positive start to the new year is indicative of the bullish sentiment of the market as investors look ahead to the 2021 bull run. Bitcoin, Ethereum and other digital assets are expected to see significant price growth over the coming months as institutional investors continue to enter the market and increase demand.
Overall, the cryptocurrency market appears to be on a positive trajectory heading into the new year. With institutional investors increasing their exposure to the market, it is likely that the market cap and prices of digital assets will continue to grow throughout 2021.