Cryptocurrencies experienced a strong rally in the last 24 hours, fueled by optimism surrounding a potential U.S.-China trade agreement. Bitcoin reached a high of $99,882 during this period, contributing to a 3% overnight jump in overall crypto market capitalization, reaching $3.1 trillion, according to RTTNews.com.
Bitcoin itself rose 2.4% to trade at $99,611, while Ethereum surged 8.7% to $1,988 in the past 24 hours. XRP also saw gains, increasing by 3.5% to $2.21.
CoinShares' Digital Asset Fund Flows Weekly report, for the week ending May 3, indicated inflows of $2 billion, with Bitcoin-based products leading at $1.8 billion. Year-to-date inflows have reached $5.6 billion, boosting assets under management to $156.3 billion, with the United States leading in inflows by country.
Bitcoin products account for $136.5 billion of the total $156.3 billion AUM. The United States holds $120.1 billion, or 76.8%, of the cumulative AUM.
Pudgy Penguins (PENGU) saw the largest gains among the top 100 cryptocurrencies with a 26% surge. Four (FORM) experienced the biggest decline, dropping 3.2% overnight.
This article is based on our author's analysis of materials taken from the following resource: www.rttnews.com.