ยฉ Reuters
On Tuesday, Ether, the world's two largest cryptocurrencies, posted modest gains, while other top 10 non-stable cryptocurrencies traded mixed. The native token of Binance, the world's largest cryptocurrency exchange, led the gains, according to data from CoinMarketCap.
Bitcoin rose 0.24% to $26,260 in the last 24 hours, although it lost 2.26% over the past week. This comes amid declines in global stock markets and a strong dollar putting pressure on risk assets. Last week, Bitcoin saw minor outflows for the third consecutive week totaling $6 million, European cryptocurrency investment firm CoinShares reported.
Ether, on the other hand, gained 0.43% to $1,588 in the last 24 hours, but is down 2.97% for the week. โIt continues to suffer, with outflows for the sixth consecutive week totaling $2.2 million,โ CoinShares said in an email.
Unlike Bitcoin and Ether outflows, investors showed more interest in altcoins such as and with inflows totaling $0.66 million and $0.31 million respectively. Last week saw a $16 million inflow into Europe, where investors see the recent regulatory disappointment as an opportunity. American investors withdrew $14 million, apparently still reeling from recent events.
Binance's native token BNB was the biggest gainer among cryptocurrencies on Tuesday, rising 1.41% to $212 in the last 24 hours, despite losing 2.13% for the week. Binance Japan and Mitsubishi UFJ (NYSE ๐ Trust and Banking Corporation are collaborating on the issuance of fiat-pegged stablecoins using Mitsubishi's trust bank platform "Progmat Coin", which was initially announced in February 2022.
The total cryptocurrency market capitalization increased by 0.32% to $1.05 trillion, while market volume fell by 0.1% to $22.25 billion in the last 24 hours.
In other developments, the performance of the global NFT market was mixed. The Forkast 500 NFT Index fell 1.27% to 1,929.64 in the last 24 hours and posted a loss of 4.33% for the week. However, the total NFT sales volume increased by 12.14% to $10,801,539, while the number of NFT buyers increased by 5.93% to 48,312, according to data from CryptoSlam.
Among blockchains, Ethereum topped the rankings as its sales volume increased by 27.25% to $5.82 million. The Solana and Mythos networks took second and third place respectively. Among collections, Mythos-based DMarket topped the rankings by sales volume, rising 6.17% to $992,740 in the last 24 hours.
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