Crypto Market Cap Surges $190 Billion in 24 Hours
Summary
- The global cryptocurrency market capitalization increased by about $190 billion over the past 24 hours.
- Ethereum (ETH) surged more than 18% to around $2,200, while Bitcoin (BTC) rose nearly 8% to trade near $69,000.
- The sharp gains in major cryptocurrencies increased bullish pressure in the derivatives market as large short-position liquidations unfolded.
Forecast Trend Report by Period
The global cryptocurrency market mounted a sharp rebound, adding $190 billion in market value in a single day.
Watcher.Guru reported on Aug. 19 that the total market capitalization of the global crypto market increased by about $190 billion over the past 24 hours.
The market's total value recovered quickly as major cryptocurrencies rebounded across the board. Ethereum (ETH) jumped more than 18% over the past 24 hours in Binance's USDT market and was trading around $2,200. Bitcoin (BTC) also rose nearly 8% to trade near $69,000.
The surge in major cryptocurrencies also increased bullish pressure in the derivatives market, with large short positions liquidated during the rally. CoinGlass data showed total liquidations across the crypto market exceeded $250 million over the past four hours.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.