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Crypto Market Cap Returns Above $3 Trillion as Leveraged Bets Rise
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The total market capitalization of cryptocurrencies has surpassed $3 trillion for the first time since January, driven by a remarkable rebound in Bitcoin, according to a report from 财联社 citing CoinGecko data. The market has added over $740 billion since the U.S. Treasury announced last month it would increase long-term bond buybacks. However, the rally has been accompanied by a surge in leveraged trading, raising the risk of rapid price swings. Data from Coinglass shows that open interest in perpetual futures across various tokens has climbed to nearly $160 billion, the highest level since late October. The report notes that traders are increasingly entering leveraged positions in perpetual futures, which could amplify volatility.
Source report
The total market capitalization of digital assets has returned to above $3 trillion for the first time since January, driven by a remarkable rebound in Bitcoin. However, the rally has also prompted a surge in leveraged trading through perpetual futures, raising the risk of rapid price swings.
According to data from CoinGecko, the cryptocurrency market has added more than $740 billion in value since the U.S. Treasury announced last month that it would increase its buybacks of long-term bonds.
Leveraged bets have also climbed. Coinglass data shows that open interest in perpetual futures across various tokens has risen to nearly $160 billion, the highest level since late October last year.
Source
财联社Eastern
Part of this Story
Crypto market reclaims $3 trillion on Treasury buybacks, short liquidations, and rising leverage risk