Major virtual assets are on the rise.
As of 12:48 PM on November 11, based on Bithumb, Bitcoin (BTC) rose 4.05% from the previous day to 114,073,000 won. Ethereum (ETH) rose 1.43% to 4,466,000 won, Solana (SOL) rose 3.41% to 2,442,000 won, Binance Coin (BNB) rose 1.54% to 8,880,000 won, and Ripple (XRP) rose 0.61% to 830 won.
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The international market is also on the rise.
At the same time, on CoinMarketCap, BTC recorded $81,445.59, up 5.33% from the previous day. ETH rose 1.54% to $3,190.31, SOL rose 3.62% to $209.92, BNB rose 1% to $636.23, and XRP rose 3.76% to $0.593.
The total market capitalization of virtual assets increased by 2.25% from the previous day to about $2.73 trillion (about 381.48 trillion won). The Crypto Fear and Greed Index of alternative.me fell 2 points from the previous day to 76 points, indicating 'extreme greed'.
The market capitalization of virtual assets has surged as former President Donald Trump was elected the next US president.
According to CoinTelegraph on the 10th (local time), the market capitalization of ETH surpassed that of the major US bank Bank of America (BoA). The market capitalization of ETH increased by about 5% in a day, reaching $383 billion (534.17 trillion won). It is about $40 billion higher than BoA. This is analyzed as reflecting the expectation of DeFi activation as former President Trump was re-elected and the US Securities and Exchange Commission (SEC) is reviewing the listing of ETH-linked ETF products.
The price of SOL also hit a 3-year high.
According to CoinDesk on the 11th (local time), the price of SOL rose 34% over a week to $214. As a result, it has also joined the 'Trillion Dollar Club', which refers to virtual assets with a market capitalization of over $100 billion. In addition to SOL, BTC, Tether (USDT), and ETH are virtual assets with a market capitalization of over $100 billion. Liang Vitell, head of global macro investor macro research at Allianz, said, "The case of SOL suggests that the cryptocurrency bull market has entered the 'banana zone', the strongest stage." Famous cryptocurrency trader Bob Lucas predicted that "SOL will reach an all-time high in a few weeks."
- Reporter Hae-yeon Kang
- haeyeon41@rni.kr
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