In a remarkable continuation of the recent crypto rally, the global cryptocurrency market cap soared to the $1.41 trillion mark on Saturday, marking a 0.51% increase in the last 24 hours. Bitcoin, the leading cryptocurrency, exhibited resilience by trading above $37,000, with a 0.69% uptick and a current market capitalization of $725.05 billion, according to CoinMarketCap data.
The total 24-hour crypto market volume stood at $69.25 billion, experiencing a 28.90% decrease. Within the decentralized finance (DeFi) sector, the volume was $7.32 billion, constituting 10.57% of the total crypto market volume. Stablecoins contributed significantly, with a total volume of $60.02 billion, representing 86.67% of the 24-hour market volume.
However, Ethereum, the second-largest cryptocurrency, faced a slight setback, observing a 3.56% decline and trading at $2,047.46 per token. Nevertheless, Ethereum's market cap remained impressive at $246,241,381,865.
November has proven to be a lucrative month for Ethereum, witnessing a substantial surge of 12.3% in a single day, triggered by news that BlackRock, the world's largest asset management company, filed for a spot Ethereum ETF. This development propelled Ethereum to a seven-month high, reaching the $2,130 mark.
Turning to meme coins, the performance was mixed. Dogecoin rose by 2.12%, reaching $0.07583 per token, boasting a market cap of $10.75 billion. Shiba Inu gained 3.56% at $0.000008771 per token, with a market cap of $5.17 billion. In contrast, Pepe Coin (PEPE) faced a 6% dip, trading at $0.0000000003208 per token.
As for other altcoins, XRP (Ripple) experienced a 2.13% decline, settling at $0.6542 on Saturday. Cardano, on the other hand, witnessed a 1.33% increase, reaching $0.3792 per token. Solana surged impressively with a 17% gain, trading at $55.04 per token and holding the 7th position in market cap at $23,173,990,280. Polkadot also demonstrated growth, with a 1.98% increase, trading at $5.28 per token.
The crypto market continues to be dynamic, with various factors influencing the prices of different cryptocurrencies. Investors and enthusiasts are closely monitoring these developments as the market evolves.