The total cryptocurrency market valuation hit $3.54 trillion on Tuesday, a new all-time high. The crypto market is now on course for its sixth consecutive positive daily trading session. Bull seized control in the derivatives markets as bears booked 51% of the $343.14 million liquidations recorded on Tuesday. Altcoin market updates: Ethereum breaches $3.
This suggests that the crypto market rally has not only been driven by speculative demand for key assets but also by inflows from fresh investments in core yield-bearish DeFi services and the dovish macro economic landscape. Unsurprisingly, prominent DeFi-focused Layer-1 projects such as BinanceCoin , Solana , Tron and Cardano have recorded gains in excess of 100% during this period. The next Fed rate decision is slated for December 17.