Market Overview

The crypto market capitalisation rose by a further 1.7% to $2.95T, briefly exceeding the $3T mark. Altcoins remain the driving force, but the wave of growth has now spread to smaller coins, while BTC, ETH, and BNB have gained less than 0.5% over this period. Bitcoin Cash (+34%), Uniswap (+15%) and The Graph (+12.8%) have surged over the past day. The worst performers over the same period were Tron (−1.4%), Tezos (−0.1%) and Algorand (−0.1%).

Bitcoin is trading at around $86.2K on Wednesday morning, having matched Monday’s intraday highs of $87.3K, but facing similar selling pressure. Optimism in the altcoin market and in equities suggests that we are witnessing a temporary shift of speculative capital from the…