Bitcoin Gains Up To 12% To Near $48000

The global crypto market cap has again reclaimed $2.07 trillion levels and is up over 8 percent over the previous day as per Coinmarket.com. The total crypto market volume has also surged by 17.62 percent over the last 24 hours and stands at $107.97 billion.

Bitcoin Gains Up To 12% To Near $48000

Bitcoin-the oldest and largest crypto by market cap is up over 9.89% at the time of writing this copy at $47,283. Likewise other top digital assets also traded with significant gains of between 7-15 percent. Say for instance Ethereum was up over 9 percent at $3262 while Solana traded with gains of nearly 15 percent at $157.07.

Other notable cryptos such as Dogecoin and Polkadot, were up 7.58 percent and 12 percent, respectively.

Bitcoin even jumped 12 percent to clock levels close to $48000 per token. However it later gave up some of the gains.

Joseph Edwards, head of research at Enigma Securities in London, told Reuters that spiking volumes on crypto derivatives exchanges could be one trigger for the latest strength in crypto assets. Derivatives trading often influences spot prices in bitcoin markets.

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