American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Crypto market update: Bitcoin, Ethereum, Solana, XRP rise ahead of Trump’s crypto summit

by admin March 6, 2025
March 6, 2025
Crypto market update: Bitcoin, Ethereum, Solana, XRP rise ahead of Trump’s crypto summit

The cryptocurrency market surged on March 6, adding nearly 4% in value as investor sentiment improved following US President Donald Trump’s announcement of a national crypto reserve.

This initiative, which includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP, has fuelled optimism after February’s sharp decline triggered by trade war concerns.

With the total market capitalisation approaching $3 trillion, traders are closely watching Trump’s upcoming crypto summit at the White House.

The event, set for Friday, is expected to provide insights into the government’s evolving stance on digital assets.

Meanwhile, market indicators show increased participation, with rising futures open interest (OI) across major cryptocurrencies.

Bitcoin price climbs

Bitcoin’s price jumped nearly 5% in the past 24 hours, trading at $91,678. The leading cryptocurrency briefly peaked at $91,996.45 before stabilising.

Source: CoinMarketCap

The surge coincided with a 6.5% rise in BTC futures OI, reaching $50.83 billion, highlighting growing market confidence.

Bitcoin’s dominance in the market also climbed by 0.43% to 60.67%, outpacing altcoins and reaffirming its position as the primary driver of market momentum.

The recent rally suggests strong institutional and retail investor interest ahead of Trump’s summit, where regulatory clarity on crypto assets is anticipated.

Ethereum rises 5%

Ethereum followed Bitcoin’s upward trajectory, gaining over 5% over the past day to trade at $2,299. The asset fluctuated between $2,159.01 and $2,293.55, mirroring increased investor activity.

Source: CoinMarketCap

Ethereum’s futures OI rose by 6% to $20.03 billion, reflecting renewed market interest in the blockchain’s upcoming upgrades.

Ethereum’s recent performance has been bolstered by developers resolving key issues on the Sepolia testnet, paving the way for the highly anticipated Pectra upgrade.

With Ethereum’s market dominance at 9.2%, traders are closely monitoring its next move, particularly as broader bullish sentiment continues to influence prices.

Altcoins gain

XRP recorded a modest 1% gain, trading at $2.50, with an intraday range of $2.42 to $2.54. The token’s futures OI increased by 3.5% to $3.42 billion.

Source: CoinMarketCap

The rally comes amid reports of rising whale activity and an increase in active addresses on the XRP network. Speculation regarding the conclusion of Ripple’s lawsuit with the US Securities and Exchange Commission (SEC) has also contributed to market confidence.

Solana, another major altcoin, saw a 4% increase, reaching $149. The token’s price fluctuated between $140.60 and $149.64, driven by a 4% rise in futures OI.

Source: CoinMarketCap

With broader market trends favouring bullish activity, Solana continues to attract significant trader interest.

Meme coins and top movers

Meme coins also saw gains in line with broader market sentiment. Dogecoin (DOGE) climbed 5% to $0.2086, Shiba Inu (SHIB) gained 4% to $0.00001348, and Pepe Coin (PEPE) rose 3% to $0.000007152.

Meanwhile, several smaller altcoins recorded double-digit gains, highlighting increased speculation in the market.

Among the top gainers, Ondo (ONDO) and Cronos (CRO) both jumped 20%, trading at $1.18 and $0.08784, respectively. Movement (MOVE) rose 16% to $0.4677.

On the losing side, Story (IP) dropped 6% to $5.22, while Toncoin (TON) and Ethena (ENA) declined by 3% each.

As the market continues to navigate regulatory and macroeconomic developments, investor sentiment remains cautiously optimistic.

The fear and greed index still indicates ‘fear’ in the market, which some traders interpret as a potential buying opportunity. All eyes now turn to Trump’s crypto summit, where key policy announcements could shape the next phase of the market’s trajectory.

The post Crypto market update: Bitcoin, Ethereum, Solana, XRP rise ahead of Trump’s crypto summit appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
How AI and underground markets fuel a $70 billion cybercrime industry
next post
Trump’s WLFI $336M crypto holdings spark concerns ahead of White House summit

Related Posts

Long-predicted consumer pullback finally hits restaurants like Starbucks,...

May 3, 2024

Marvell stock price risky pattern points to a...

May 29, 2025

Could TSMC lose US funding under Trump 2.0?

January 21, 2025

Bitcoin mutual funds to launch in Israel next...

December 26, 2024

Top CAC 40 Index shares to watch next...

April 25, 2025

Eli Lilly pulls ahead of Novo in obesity...

May 17, 2025

AMD stock price forecast after crashing to a...

March 25, 2025

Why Nike’s CEO believes turnaround efforts could hurt...

December 21, 2024

Adobe CEO defends AI strategy, rejects claims of...

March 14, 2025

Dow closes at record high above 40,000 to...

May 20, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved