The global cryptocurrency market posted solid gains in the past 24 hours, with the total market capitalization advancing to nearly $4.2 trillion, News.Az reports.
Investor confidence was boosted by a combination of monetary easing, regulatory developments, and fresh institutional products entering the market.
Fed Rate Cut Sparks Renewed Optimism
The biggest macro driver came from the United States, where the Federal Reserve cut interest rates by 25 basis points for the first time this year. The long-anticipated move injected optimism across risk markets, including digital assets, as investors interpreted the decision as a signal that borrowing costs will gradually ease.
While Bitcoin (BTC) saw heightened volatility around the announcement, it has since stabilized near $117,000, maintaining dominance of around 55% of the market. Analysts suggest that if BTC can break through resistance around $117,500, a rally toward $124,000 is likely in the near term.
Regulatory Advances in the U.S. and U.K.
The regulatory front also added momentum. The U.S. Securities and Exchange Commission (SEC) approved a new framework to speed up the listing of crypto exchange-traded products, a move widely viewed as a green light for faster ETF launches. Meanwhile, lawmakers advanced the Digital Asset Market Clarity Act, which Coinbase CEO Brian Armstrong described as a “freight train leaving the station,” highlighting the bipartisan push toward clearer rules.
Across the Atlantic, the UK’s Financial Conduct Authority (FCA) opened consultations on applying traditional financial oversight to crypto companies, aiming to balance innovation with consumer protection.
In New York, regulators urged banks to adopt blockchain analytics to strengthen risk monitoring around crypto-related transactions, further indicating that regulators are looking for practical solutions rather than blanket restrictions.
Institutional Expansion: CME and Protocol Updates
Institutional adoption continues to grow. The CME Group, the world’s largest derivatives exchange, announced plans to launch options trading for Solana (SOL) and XRP next month, following strong demand for futures contracts. This marks another step in bringing crypto assets deeper into mainstream financial markets.
On the protocol side, Wormhole, a leading cross-chain bridge, introduced a major update to its tokenomics. The new system features a 4% base staking yield, biweekly token unlocks instead of bulk releases, and a reserve mechanism funded from protocol revenue. The announcement pushed the Wormhole token (W) up by more than 6% in a single day.
Performance of Top 10 Cryptocurrencies
The top 10 digital assets reflected the broader market’s positive tone:
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Bitcoin (BTC): Trading flat at $117,070, holding near resistance; potential breakout levels closely watched.
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Ethereum (ETH): Added nearly 1%, reaching $4,561, supported by steady altcoin flows.
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XRP: Up 1.6% to $3.07, with excitement building around ETFs and CME’s upcoming options listing.
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Tether (USDT): Stable at $1.00, maintaining its peg without notable fluctuations.
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BNB: Jumped 4.2% to $992, leading gains among majors amid stronger demand for exchange-native tokens.
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Solana (SOL): Rose 3.7% to $244, bolstered by CME’s institutional product announcement.
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USD Coin (USDC): Trading steady at $0.9997, reflecting continued investor reliance on dollar-backed stablecoins.
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Dogecoin (DOGE): Advanced 4.1% to $0.2785, extending momentum among meme tokens.
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TRON (TRX): Posted a modest 1.2% gain to $0.3446, underscoring its steady growth trajectory.
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Cardano (ADA): Climbed 3% to $0.9066, with technical analysts projecting a possible move above the $1.00 mark.
Winners and Sentiment
Among the majors, BNB, Dogecoin, Solana, and Cardano stood out as top performers, each notching gains of more than 3–4%. The winners reflect a mix of institutional interest (SOL, BNB) and retail-driven enthusiasm (DOGE, ADA).
Investor sentiment appears to be improving, with traders more confident that the combination of monetary easing, regulatory progress, and institutional adoption is laying the foundation for a sustained rally. However, caution remains as markets await confirmation that Bitcoin can break through key resistance levels, which could set the tone for the next leg higher.
