Bitcoin Back Above $27,000 – Crypto Market Rises as Investor Confidence Soars
Bitcoin, Ethereum, and other top cryptocurrencies gained in Asia after successful negotiations on raising the U.S. debt ceiling.
Bitcoin rose 1.08% to $27,158 in 24 hours, with Ethereum surging to $1,904.
Litecoin showed one of the highest gains among the top 15 cryptocurrencies, climbing 2.25% to $96.75 in 24 hours and strengthening by more than 10% throughout the week. On-chain activities for Litecoin increased in May.
The global crypto market capitalization strengthened to $1.15x trillion, while the total market volume decreased to $29.94 billion.
First Digital introduced a new stablecoin called First Digital USD (FDUSD), which is pegged to the U.S. dollar.
NFT Ethereum network sales rose 6.41% to $24.33 million in 24 hours. Azuki and Bored Ape Yacht Club led in sales. NFT sales on the Bitcoin network increased by 204.53% to $7.29 million.
ANA Group launched ANA GranWhale NFT MarketPlace, an NFT trading platform.
READ MORE: Bitcoin’s Bumpy Road Ahead: Insights from Bloomberg Analyst Mike McGlone
Asian stock markets gained after the U.S. Senate passed a bill suspending the country’s debt limit. U.S. stock futures and European bourses also strengthened following the debt ceiling bill’s passage.
Concerns about using the debt ceiling as a political weapon and its impact on investor confidence and future borrowing rates were raised.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
