An appetite for riskier asset classes is proving net positive for the crypto markets this week, with global market capitalisation heading above US$1tn for the first time in six weeks. Despite supposedly correlated tech stocks floundering in an underwhelming earnings season, bitcoin continued to rally another 2.6% today, bringing it up to US$20,690.
As is typical, Ethereum (ETH) extended the trend by jumping 4%, and looks to be stabilising around the US$1,550 price point as the day progresses.
Dogecoin (DOGE) is today’s top dog though - the meme coin soared nearly 20% to break through the US$10bn market cap ceiling.
The rally comes as DOGE’s most (in)famous proponent Elon Musk’s Twitter takeover nears completion.
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