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The global cryptocurrency market has seen a significant rise, with the total market capitalization reaching around $1.68 trillion. Leading the way, Bitcoin maintained a stable position, hovering around the $42,890 mark, while Ethereum also enjoyed gains, climbing as high as $2,406. Notably, Bitcoin SV saw a dramatic rise, with its value increasing by around 45% overnight.
Investor interest in digital assets has shown a clear preference for the more established cryptocurrencies. According to a recent report from CoinShares, investment flows were primarily directed towards Bitcoin and Ethereum, totaling $102.7 million over the past week. This trend underlines the great confidence of investors in these digital currencies.
The United States has emerged as a dominant force in the digital assets space, boasting the largest share of total global assets under management (AUM) at $37.9 billion. This figure represents a significant portion of global assets under management, indicating the country’s central role in the cryptocurrency market.
Unlike the meteoric success of Bitcoin SV, the altcoin Bonk has fallen on hard times, with its value declining by more than 15%. This decline highlights the volatile nature of the cryptocurrency market, where fortunes can change quickly and investor sentiment can change in an instant.
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