Top cryptocurrencies were trading up to 7 percent higher in Wednesday’s trade, with Polkadot and Cardano leading the gainers in the last 24 hours.
Bitcoin is followed by Ethereum (ETH) at $3001, Tether ($1), Binance Coin (BNB) at $401, and USD Coin (USDC) at $1 in the list of top 5 cryptocurrencies by market capitalization on March 22, according to CoinMarketCap data at the time of writing this report.
In the last seven days, the prices of several top crypto assets have increased by over 10%.
While Bitcoin has seen a 9% jump in price in the last 7 days, the price of Avalanche (AVAX) has surged by 32% in a week. AVAX is currently ranked 10th in terms of market capitalization.
The price of Cardano (ADA) has witnessed an 18% jump in the last seven days while prices of Solana and XRP have increased by 14% and 12% respectively.
The performance of other digital tokens also mixed as Polygon, Litecoin, Stellar, Terra, Solana declined while Polygon, Uniswap, Polkadot, Cardano gained slightly over the last 24 hours.
Meanwhile, the global cryptocurrency market capitalization rose to the $2 trillion mark, about a percent change in the last 24 hours, as per CoinGecko.
Cryptocurrency investment products and funds showed net outflows for a second straight week, a report from digital asset manager CoinShares showed on Monday. The sector posted net outflows of $47 million in the week ended March 18, after experiencing outflows of $110 million the previous week.
The world’s biggest crypto asset bitcoin saw the largest outflows, totaling $33 million, half the amount saw the previous week. These last two weeks of outflows now total $101 million but year-to-date flows remain positive at $64 million. In other news, Goldman Sachs recently became the first major US bank to have made an over-the-counter (OTC) cryptocurrency transaction. Notably, the Wall Street giant bought an OTC Bitcoin non-deliverable option (NDO) from Galaxy Digital, a New York-based cryptocurrency investment firm, run by billionaire Mike Novogratz.
Essentially, it means that Goldman Sachs bought a contract betting on the future price of Bitcoin—rather than actually buying the digital asset itself.
In other news, Goldman Sachs recently became the first major US bank to have made an over-the-counter (OTC) cryptocurrency transaction. Notably, the Wall Street giant bought an OTC Bitcoin non-deliverable option (NDO) from Galaxy Digital, a New York-based cryptocurrency investment firm, run by billionaire Mike Novogratz.
Essentially, it means that Goldman Sachs bought a contract betting on the future price of Bitcoin—rather than actually buying the digital asset itself.
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