The total cryptocurrency market capitalization climbed nearly 8% in 24 hours, driven by U.S. Treasury debt news.
The cryptocurrency market capitalization rose nearly 8% over the past day to $2.37 trillion, marking its highest level since early June. The rally followed reports of U.S. Treasury support for debt measures, providing initial momentum.
Prior to this surge, the market had been consolidating for weeks, with limited volatility. The last comparable rally occurred in late May, when capitalization briefly exceeded $2.4 trillion before retracing.
No immediate market reaction details were provided, but the breakout suggests renewed investor interest in digital assets.