On Wednesday, the global cryptocurrency market remained relatively steady, with Bitcoin (BTC) holding above the $109,000 mark. Meanwhile, altcoins showed mixed performance, reflecting a cautious but slightly optimistic market sentiment.
According to CoinMarketCap data, Bitcoin was trading around $109,640.18, marking a modest 0.14% increase over the past 24 hours. On Indian exchanges, Bitcoin was quoted at approximately ₹9.039 million. The overall cryptocurrency market capitalization also saw a mild uptick of 1.02% within 24 hours, reaching $3.45 trillion.
Ethereum Maintains Second Spot by Market Capitalization
Ethereum (ETH), the second largest cryptocurrency by market cap, outperformed Bitcoin on this trading day. ETH’s price rose nearly 4%, trading globally at $2,796.36, while on Indian exchanges it was priced around ₹213,000. Analysts highlight growing confidence in Ethereum’s staking model, with approximately 34.6 million ETH — nearly 28% of its total supply — locked in its Proof of Stake (PoS) contracts. This staked amount is valued at nearly $90 billion, signaling investors’ strong belief in Ethereum’s long-term prospects.
Other notable cryptocurrencies also saw gains: Dogecoin (DOGE) rose 3.02% to $0.1980, Litecoin (LTC) increased 1.62% to $91.69, and Solana (SOL) climbed 3.79% to $165.13. In contrast, Ripple (XRP) edged down 0.17% to $2.29.
Uniswap Leads Gains for the Day
The day’s most significant winner was Uniswap (UNI), surging 16.61% within 24 hours to $8.27. Market observers attribute this rally to recent signals from the U.S. Securities and Exchange Commission (SEC), suggesting potential easing of regulations on decentralized finance (DeFi) platforms. Optimism around tailored regulatory exemptions appears to have rekindled buying interest in UNI.
Other notable gainers included Kaia (KAIA) up 15.80%, Vaulta (A) rising 15.44%, Jito (JITO) increasing 14.93%, and SPX6900 (SPX) up 12.35%.
Minor Declines Seen Among Select Tokens
Despite the general upward trend, some tokens experienced slight pullbacks. UNUS SED LEO (LEO) led the decliners with a nearly 2% drop, closing at $8.90. Other minor losers included Bittensor (TAO), Toncoin (TON), GateToken (GT), and Story (IP), which slipped between 0.10% and 1.36%.
Market Sentiment Remains in “Greed” Zone
The Fear and Greed Index from CoinMarketCap shows that overall market sentiment continues to lean toward “greed,” scoring 65 out of 100. Despite ongoing regulatory uncertainties worldwide, investors seem willing to maintain their positions, particularly as Bitcoin approaches historic highs.
An additional positive sign is the rebound in stablecoin transactions, with PayPal’s PYUSD stablecoin circulation surpassing $1 billion again. This indicates renewed confidence in dollar-pegged digital assets amid the ongoing market recovery.
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