- By Aditya Pratap Singh
- Wed, 21 May 2025 11:16 AM (IST)
- Source:JND
The global cryptocurrency market cap stands at approximately $3.49 trillion, reflecting a 1.14% decrease over the past 24 hours as of May 21, 2025. The surge is buoyed by positive trading sentiment in heavyweights like Bitcoin, Ethereum and others. Meanwhile, the total amount of cryptocurrency traded in the last day was $115 billion. The dominance of Ethereum is 8.79%, and that of Bitcoin is 60.9%.
Top Cryptocurrencies Today
- At the time of writing, Bitcoin (BTC) was trading at $107,592, inching closer to its all-time high of $109,114.88 set in January. The bullish momentum is further evidenced by a 10.65% increase in BTC futures open interest from last week, reaching $74.35 billion, with Binance leading at $12.28 billion.
- Ethereum (ETH) was priced at $2,572.53, maintaining levels above its 50- and 100-day moving averages. The recent surge is attributed to increased investor confidence and positive market sentiment.
- XRP was trading at $2.38, showing resilience amid market fluctuations.
- Solana (SOL) has risen to $171.45, supported by institutional interest and the upcoming Alpenglow upgrade aimed at increasing transaction speeds.
- Cardano (ADA) was at $0.759, with recent reports indicating significant outflows from centralised exchanges, reminiscent of patterns before previous all-time highs.
In the DeFi sector, Aave continues to lead with a total value locked (TVL) surpassing $24 billion, accounting for 20% of the entire DeFi market.
What Experts Predict
Vikram Subburaj, CEO, Giottus Crypto, says, "Bitcoin is fighting to break through its upper resistance channel above $107,000 and may have one move down towards $102,000 before it rallies to new highs. A correction in the US stock indices may pull down Bitcoin on sentiment this week. However, a new high is likely before the end of May if this consolidation continues Altcoins have lost their strength and are struggling to hold on to their monthly gains. XRP, Solana, Caradano and Chainlink are all down 5-8% on the weekly with Hyperliquid the only stand out performer with a 3% gain. Bitcoin dominance is hovering around 64% and may rise if Bitcoin dips further."
"BTC surged to $107K for the first time since January, 2% away from its all-time high, as bullish momentum intensified. BTC futures open interest rose by 10.65% from last week to $74.35B, led by Binance with $12.28B, signaling growing leverage in the market. Institutional demand also played a role, with U.S. spot BTC ETFs recording net inflows of $41.7M yesterday, marking their fifth consecutive day of inflows. Meanwhile, Ethereum is holding near the $2,500 level and trading above both its 50- and 100-day moving averages," said CoinSwitch Markets Desk.