Crypto Market Value Hits US$599 Billion after Jumping by 6 Percent

The total value of cryptocurrency market rose by 5.98 percent in the last 24 hours to $598.49 billion following growing institutional interest in the unregulated market.

In the last 24 hours, investors traded $147.27 billion worth of cryptocurrencies, representing a 37.79 percent increase from the previous session.

Also, read Nigeria’s Securities and Exchange Commission Moves to Regulate Cryptocurrencies

The total volume of DeFi traded rose to $4.80 billion, representing 3.26 percent of the volume of total crypto market traded in the last 24 hours. While the volume of all stable coins is now $56.71 billion, accounting for 38.51 percent of the total volume traded in the last 24 hours.

Bitcoin accounts for 64.19 percent of the entire cryptocurrency market and rose by 7 percent to $20,695 per coin after breaking the US$20,000 psychological level.